AIG worldwide actual estate, a unit of yankee worldwide
group Inc., is seeking at the least $450 million from the sale of a luxury inn
in the South Korean capital, humans with expertise of the problem stated.
AIG’s Korean actual estate arm appointed Jones Lang LaSalle
Inc. to discover a consumer for the Conrad Seoul hotel, Michael Choi, a
Seoul-based totally spokesman for the AIG unit, stated in an e-mailed response
to questions. it's far being presented with a long-time period resort control
settlement or with vacant possession, giving the client an choice to run the
hotel after the sale, one of the humans stated, asking no longer to be named as
the problem is non-public.
The assets is placed inside IFC Seoul, a combined-use business
complex that AIG worldwide real estate helped develop within the metropolis’s
monetary hub. The five-superstar lodge, which turned into completed in 2012, is
presently operated by way of Hilton global Holdings Inc. beneath the Conrad
logo.
AIG, after being bailed out through U.S. taxpayers for the
duration of the financial crisis, has been selling property assets in recent
years to attention on its center coverage commercial enterprise. The employer
sold a Tokyo office belongings to Nippon existence coverage Co. for
approximately $1.2 billion in 2012.
Madeleine Little, a Singapore-based spokeswoman for Jones
Lang LaSalle, declined to comment. AIG’s Choi declined to comment on the asking
fee for the inn.
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