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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.

Source



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