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Lone Star looks to sell banquet complex in Tokyo

14 Feb 2014

japanese home_sqPrivate equity firm Lone Star Funds is reportedly looking for buyers for an office and banquet hall complex in Tokyo.

The Dallas, Texas-based firm has renewed its efforts to sell the assets by including land in the offer, said Bloomberg, citing two people familiar with the sale.

The added land has increased Lone Star’s asking price by JPY110bn ($1.1bn) and the bidding result will be released early next month, said the report.

This is Lone Star’s fourth attempts to sell the property, said the sources.

Earlier this week AltAssets reported that Lone Star has launched a new fund with a $7bn target.

Lone Star Fund IX is significantly larger than its previous general distressed asset-focused fund which was closed on $5.1bn last May.

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