AIG Global Real Estate Completes Sale of International Finance Centre Seoul
November 17 2016 - 7:00PM
Business Wire
AIG Global Real Estate announced today the completed sale of the
International Finance Centre Seoul (IFC Seoul) to Brookfield. Terms
of the transaction were not disclosed.
International Finance Centre Seoul (IFC Seoul), the first
international, Class A development in the heart of Seoul’s
financial district, Yeouido, is a large-scale, mixed-use commercial
complex. The complex includes three high-rise office towers, a
three-level retail mall, and a five-star Conrad Seoul hotel – all
of which is connected to the Yeouido subway station. The complex
provides modern space for tenants, workers, shoppers, and visitors
to Yeouido, and is a destination for international finance and
business.
AIG Global Real Estate and the Seoul Metropolitan Government
joined together to make the IFC Seoul project a success. The
project is owned by an AIG Global Real Estate sponsored fund.
Douglas Tymins, President and CEO of AIG Global Real Estate
said, “We are grateful to the investors and partners, including the
Seoul Metropolitan Government, who contributed to the creation of
IFC Seoul over the past 13 years. We firmly believe that
Brookfield, with a successful diversified international portfolio,
will further enhance the value of IFC Seoul, and serve as an
invaluable partner to the Seoul Metropolitan Government.”
About AIG Global Real Estate
AIG Global Real Estate, founded in 1987, comprises a group of
international companies within AIG that invests in and actively
manages approximately $18.8 billion of real estate for clients and
AIG member companies in various countries. The business includes
AIG Affordable Housing (representing over 102,000 multi-family
units across the United States), and the investment management of
Stowe Mountain Resort. More information can be found at
http://www.aig.com/aig-global-real-estate.
About American International Group, Inc.
American International Group, Inc. (AIG) is a leading global
insurance organization. Founded in 1919, today AIG member companies
provide a wide range of property casualty insurance, life
insurance, retirement products, mortgage insurance and other
financial services to customers in more than 100 countries and
jurisdictions. These diverse offerings include products and
services that help businesses and individuals protect their assets,
manage risks and provide for retirement security. AIG common stock
is listed on the New York Stock Exchange and the Tokyo Stock
Exchange.
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Twitter: @AIGinsurance | LinkedIn:
http://www.linkedin.com/company/aig. These references with
additional information about AIG have been provided as a
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incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty,
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International Group, Inc. For additional information, please visit
our website at www.aig.com. All products and services are written
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version on businesswire.com: http://www.businesswire.com/news/home/20161117005433/en/
AIGInvestors:Liz Werner,
212-770-7074elizabeth.werner@aig.comorMedia:Jennifer Hendricks
Sullivan, 212-770-3141jennifer.sullivan@aig.comorMi Jeong Han, +82
2-6360-7081mijeong.han@aig.com
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