NEW YORK & SEOUL, South Korea--(BUSINESS WIRE)--Nov. 17, 2016--
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
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
Additional information about AIG can be found at www.aig.com
| YouTube: www.youtube.com/aig
| Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig.
These references with additional information about AIG have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
All products and services are written or provided by subsidiaries or
affiliates of American International Group, Inc. Products or services
may not be available in all countries, and coverage is subject to actual
policy language. Non-insurance products and services may be provided by
independent third parties. Certain property-casualty coverages may be
provided by a surplus lines insurer. Surplus lines insurers do not
generally participate in state guaranty funds, and insureds are
therefore not protected by such funds.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161117005433/en/
Source: American International Group, Inc.
Liz Werner, 212-770-7074
Hendricks Sullivan, 212-770-3141
Jeong Han, +82 2-6360-7081