Carlyle raises US$4.2b for US real estate fund

Seattle

CARLYLE Group raised US$4.2 billion for its seventh US real estate fund, meeting the top end of its target range, in preparation for more property purchases at a time when prices are at record levels.

The firm will expand investments in apartment buildings, along with its other areas of focus: warehouses, offices and retail properties in major markets, said Rob Stuckey, managing director and head of US real estate. The Washington-based company also has backed senior housing, self-storage and mobile homes, along with two condominium projects on Manhattan's west side.