Simpson Thacher represented KKR in connection with a joint venture with PAG to acquire 100% of the shares of Sapporo Real Estate Co., Ltd. from Sapporo Holdings (TYO: 2501). Sapporo Real Estate owns, operates, and develops a diverse portfolio of commercial, office, hotel, and residential assets primarily located in Tokyo and Sapporo, Japan. The acquisition will close in stages over three years, with the acquisition of the first tranche, representing a 51% stake, expected to close on June 1, 2026.
The Simpson Thacher team working on the transaction includes Jonathan Hwang, Raymond Kim, Jiang Zhao and Timothy Magarry (Real Estate); Jonathan Stradling (M&A); Étienne Renaudeau, Luke Cowdell (Anti-trust); Jacob Millikin (Funds); and Meredith Jones (Tax).