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Carlyle reduces US apartment holdings

[SEATTLE] Carlyle Group LP, the private-equity firm with more than a third of its US$2.3 billion US real estate fund in apartments, is reducing holdings of multi-family housing as rent growth slows from a post-recession surge.

The company is considering apartment sales as rising construction reduces multi-family housing shortages and price gains for rental properties make them less attractive for private-equity firms that seek returns of 20 per cent or more, said Robert Stuckey, the Washington-based...

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