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Report: Apollo to shed 1,400 rental homes for $400M

Private equity group Apollo Global Management LLC is selling a portfolio comprising 1,400 single-family rental homes in a deal which could fetch approximately $400 million, Bloomberg News reported, citing sources with knowledge of the matter.

The homes are located in Atlanta, Chicago, Las Vegas and California, with Haven Homes managing some of them, according to one of the sources, the Oct. 11 report added.

An Apollo spokesperson declined to comment, while a representative for Haven Homes did not respond to messages for comment, the news agency added.