FT reported a crack in The Carlyle Group's 30% annual return meme from untimely real estate investing:
Carlyle told investors a few months ago that they should expect to receive no more than 40 cents on the dollar on its second €763m real estate fund focused on Europe.I expect journalist Henny Sender to pay the price for publishing anything negative about The Carlyle Group.
Consider the bizarre world Sender reveals, where PEU's invest in rental real estate:
Blackstone is moving on to apartment complexes, and in mid-August it bought a $2.7bn portfolio of them from a unit of General Electric.
To further lower Blackstone’s own cost of funds, it is looking at securitising the cash flows it receives from renting out the $6bn of single family homes it has bought, repaired and leased out.
Next up, PEU towns and regions. Will you live in Blackstone or Carlyle country?
Update 10-24-13: Carlyle recently announced investing in trailer parks and up to $1 million housing in Atlanta's north side.