Filed Pursuant to Rule 424(b)(3)

Registration No. 333-286625

APOLLO REALTY INCOME SOLUTIONS, INC.

SUPPLEMENT NO. 10 DATED APRIL 17, 2026

TO THE PROSPECTUS DATED JUNE 26, 2025

This prospectus supplement (this "Supplement") is part of and should be read in conjunction with the prospectus of Apollo Realty Income Solutions, Inc., dated June 26, 2025 (as supplemented to date, the "Prospectus"). Unless otherwise defined herein, capitalized terms used in this Supplement shall have the same meaning as in the Prospectus. References herein to "we", "us", or "our" refer to Apollo Realty Income Solutions, Inc. and its consolidated subsidiaries unless the context specifically requires otherwise.

The purposes of this Supplement are as follows:

May 1, 2026 Transaction Price

The transaction price for each share class of our common stock for subscriptions accepted as of May 1, 2026 (and repurchases, if applicable, as of April 30, 2026) is as follows:

 

		Transaction Price  (per share)
Class S		$	21.1746
Class D		$	21.2521
Class I		$	21.0372
Class F-I		$	20.9697
Class A-I		$	21.5595
Class A-III		$	21.5029

The transaction price for each of our Class S shares, Class D shares, Class I shares, Class F-I shares, Class A-I shares and Class A-III shares is equal to such class's NAV per share as of March 31, 2026. A detailed presentation of the NAV per share/unit is set forth below. The purchase price of our common stock for each share class equals the transaction price of such class, plus applicable upfront selling commissions and dealer manager fees. The repurchase price, if applicable, for each share class equals the transaction price of such class.

March 31, 2026 NAV Per Share

NAV per share is calculated in accordance with the valuation guidelines approved by our board of directors. Our NAV per share is posted on our website at https://gwms.apollo.com/realtyincomesolutions and is made available on our toll-free, automated telephone line at 888-926-2688. Please refer to "Net Asset Value Calculation and Valuation Guidelines" in the Prospectus for important information about how our NAV is determined. The Adviser is ultimately responsible for determining our NAV.

Our total NAV presented in the following tables includes the NAV of our Class S shares, Class D shares, Class I shares, Class F-I shares, Class A-I shares, Class A-III shares, Class E shares and units of ARIS Operating Partnership L.P. (the "Operating Partnership") held by parties other

than the Company. The following table provides a breakdown of the major components of our total NAV as of March 31, 2026 ($ and shares/units in thousands):

 

Components of NAV		March 31, 2026
Investments in real estate		$	857,843
Investments in real estate debt			1,189,658
Cash and cash equivalents			84,463
Restricted cash			3,076
Other assets			7,273
Mortgage notes at fair value, net of deferred financing costs			(154,285	)
Secured debt arrangements, net			(329,861	)
Other liabilities			(28,291	)
Accrued performance participation allocation			(93	)
Management fee payable			(1,227	)
Net asset value		$	1,628,556
Number of outstanding shares/units			75,724

The following table provides a breakdown of our total NAV and NAV per share/unit by class as of March 31, 2026 ($ and shares/units in thousands, except per share/unit data):

NAV Per Share/Unit		Class S Shares				Class D Shares				Class I Shares				Class F-I Shares				Class A-I Shares				Class A-III Shares				Class E Shares(1)				Third-party Operating Partnership Class A-I Units(2)				Third-party Operating Partnership Class E Units(2)				Total
Net asset value		$	283			$	106			$	31,799			$	31,162			$	471,082			$	938,910			$	25,879			$	124,001			$	5,334			$	1,628,556
Number of outstanding shares/units			13				5				1,512				1,486				21,851				43,664				1,195				5,752				246				75,724
NAV per share/unit as of March 31, 2026		$	21.1746			$	21.2521			$	21.0372			$	20.9697			$	21.5595			$	21.5029			$	21.6478			$	21.5595			$	21.6478			$	21.5064

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Consistent with our disclosure in the Prospectus regarding our NAV calculation, our investments in real estate and real estate debt are initially valued at cost. Once we establish new values for our real estate investments, we provide information on key assumptions used in the discounted cash flow methodology and a sensitivity analysis related thereto. The valuations of our real properties as of March 31, 2026, excluding certain newly acquired properties that are held at cost which we believe reflects the fair value of such properties, were provided by the independent valuation advisor in accordance with our valuation procedures. Certain key assumptions that were used by the independent valuation advisor in the discounted cash flow analysis are set forth in the following table based on weighted-averages by property types where we have multiple real estate investments. Once we own more than one retail property, provided that each has been subject to an independent valuation by the independent valuation advisor, we will include the key assumptions for such property type.

 

Property Type		Discount Rate		Exit Capitalization Rate
Industrial		7.6%		6.3%
Multifamily		7.2%		5.3%

A change in these assumptions or factors would impact the calculation of the value of our property investments. For example, assuming all other factors remain unchanged, the changes listed below would result in the following effects on our investment values:

 

Input		Hypothetical Change		Industrial Investment Values		Multifamily Investment Values
Discount rate		0.25% Decrease		+1.99%		+1.95%
(weighted average)		0.25% Increase		(1.94)%		(1.91)%
Exit Capitalization Rate		0.25% Decrease		+2.31%		+3.12%
(weighted average)		0.25% Increase		(2.14)%		(2.84)%

 

Our total NAV presented in the following tables includes the NAV of our Class S shares, Class D shares, Class I shares, Class F-I shares, Class A-I shares, Class A-III shares, Class E shares and units of the Operating Partnership held by parties other than the Company. The following table provides a breakdown of the major components of our total NAV as of February 28, 2026 ($ and shares/units in thousands):

 

Components of NAV		February 28, 2026
Investments in real estate		$	855,760
Investments in real estate debt			1,224,296
Cash and cash equivalents			41,206
Restricted cash			2,541
Other assets			8,301
Mortgage notes at fair value, net of deferred financing costs			(154,244	)
Secured debt arrangements, net			(346,745	)
Other liabilities			(24,130	)
Accrued performance participation allocation			(59	)
Management fee payable			(1,211	)
Net asset value		$	1,605,715
Number of outstanding shares/units			74,706

The following table provides a breakdown of our total NAV and NAV per share/unit by class as of February 28, 2026 ($ and shares/units in thousands, except per share/unit data):

 

NAV Per Share/Unit		Class S Shares				Class D Shares				Class I Shares				Class F-I Shares				Class A-I Shares				Class A-III Shares				Class E Shares(1)				Third-party Operating Partnership Class A-I Units(2)				Third-party Operating Partnership Class E Units(2)				Total
Net asset value		$	282			$	106			$	31,418			$	31,199			$	469,668			$	919,921			$	24,535			$	123,386			$	5,200			$	1,605,715
Number of outstanding shares/units			13				5				1,493				1,488				21,799				42,807				1,134				5,727				240				74,706
NAV per share/unit as of February 28, 2026		$	21.1631			$	21.2498			$	21.0397			$	20.9692			$	21.5463			$	21.4899			$	21.6341			$	21.5463			$	21.6341			$	21.4939

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Status of Our Current Public Offering

We are currently offering on a continuous basis up to $5.0 billion in shares of common stock, consisting of up to $4.0 billion in shares in our primary offering and up to $1.0 billion in shares pursuant to our distribution reinvestment plan. As of the date hereof, we have issued in the Offering approximately (i) 16,191,874 shares of our common stock (consisting of approximately 12,593,532 Class A-III shares, 3,189,267 Class A-I shares, 401,573 Class I shares, and 7,502 Class S shares) in our primary offering for total proceeds of approximately $347.0 million and (ii) 460,030 shares of our common stock (consisting of approximately 100,185 Class A-III shares, 334,664 Class A-I shares, 10,183 Class F-I shares, 14,704 Class I shares, 178 Class D shares and 116 Class S shares) pursuant to our distribution reinvestment plan for a total value of approximately $9.9 million. No other classes of shares were issued or sold in the Offering as of the date hereof. As of March 31, 2026, our aggregate NAV was approximately $1.6 billion. We intend to continue selling shares in the Offering on a monthly basis.