Leon Black’s Apollo Global Management LLC plans to raise $600 million in a public offering of shares in its only commercial property investment fund.

Apollo Commercial Real Estate Finance Inc., organized as a real estate investment trust, will focus on properties in major cities, according to documents filed July 10 with the US Securities and Exchange Commission. The New York-based fund will also buy commercial mortgage-backed securities.

Apollo seeks to buy real estate from commercial property owners that are unable to refinance an estimated $1.2 trillion of loans expected to mature in the next three years, according to the filing.