Lone Star is looking to sell a Tokyo complex for up to $1.3 billion, Reuters reports. The global private equity firm is seeking to offload the property before loans on the office and banquet hall complex mature in early 2012.
Lone Star had taken a $1.04 billion loan to fund its original acquisition of the Meguro Gajoen complex. Mizuho Financial Group had offered the loan. Earlier this year, the firm sold two office buildings and a hotel in central Tokyo to Mitsubishi Estate in a deal estimated to be worth $1.17 billion.
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