Bain, KKR Said to Be Second-Round Bidders for Sapporo Unit (2)

Bain Capital, KKR & Co. and Lone Star are among investment firms that have advanced to the second round of bidding for the real estate unit of Sapporo Holdings Ltd., according to people familiar with the matter.

Bidding will end in August and the sale price is expected to exceed ¥400 billion ($2.8 billion), said the people, who asked not to be identified discussing non-public information. The aim is to reach an agreement by the end of this year, they said.

Sapporo Real Estate Co. owns and operates Yebisu Garden Place, one of Tokyo’s biggest mixed-use developments, housing ...