Carlyle planning elderly housing portfolio in Japan

02/21/2008 | Reuters

Carlyle Group is planning to build a portfolio of homes for the elderly in Japan. The portfolio could be valued as much as $1 billion and may eventually be spun off into a real estate investment trust. "Once the portfolio reaches a size of around $500 million or $1 billion, there should be an opportunity for us to potentially transform it into a senior housing J-REIT," said Rio Minami, head of Carlyle Japan Real Estate.

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