Home RSS
Real Estate

Kumho to Buy AIG Building in NY

Yoon Ja-young the korea times
AIG headquarters building in NY

AIG headquarters building in NY

A consortium led by Kumho Investment Bank has signed a contract to acquire the AIG headquarters building in New York. This is the first time for a Korean fund to buy a skyscraper in downtown New York.

Kumho Investment Bank said it would acquire the headquarters of American International Group (AIG) and an adjacent office building in New York, in partnership with Youngwoo & Associates (YWA), a U.S. real estate development company. 

The Kumho and YWA partnership competed with around 20 bidders in a sales process arranged by CB Richard Ellis. 

``The investment is based on our optimistic view on the future of Wall Street, New York City and the U.S. financial services industry,'' Kim Yong-chan, director of Kumho said in a statement.


Add your comment
  Anonymous comment
  Remember me on this computer

Send me by email any answer to my comment
Send me by email every new comment to this article

Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.