January 24, 2009 / 9:15 PM / 8 years ago

UPDATE 1-Lehman's Japan real estate assets now on sale-WSJ

2 Min Read

(Adds Goldman Sachs comment, final paragraph)

CHICAGO, Jan 24 (Reuters) - Bidding began on Lehman Brothers Holdings Inc's LEHMQ.PK real-estate assets in Japan over the past week, The Wall Street Journal reported on Saturday, citing people familiar with the matter.

When Lehman filed for bankruptcy protection in September, so did its Lehman Brothers Japan Inc unit, which filed in Tokyo.

According to the Journal, two of Lehman Brothers Japan's real-estate loan units, Lehman Brothers Commercial Mortgage KK and Sunrise Finance Co, had liabilities totaling 748.4 billion yen ($8.44 billion).

While Japan's Nomura Holdings Inc (8604.T) bought Lehman's operations in Asia, Europe and the Middle East, it did not take any debt held by the failed U.S. bank, the Journal said.

The Journal said first-round bids for the assets were placed on Tuesday. Companies showing interest include funds at Lone Star, Cerberus Capital Management LP [CBS.UL], Goldman Sachs Group Inc's (GS.N) Goldman Sachs Japan Co., Blackstone Group LP (BX.N) and a Nomura Holdings (8604.T) unit, the people said, according to the report.

Lehman declined to comment and Goldman Sachs had no comment on Saturday. Lone Star, Cerberus, Blackstone and Nomura could not be immediately reached for comment. (Reporting by Jessica Wohl; Additional reporting by Megan Davies; Editing by Peter Cooney)

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