AIG returns to real estate, in talks with Durst Fetner

TRD New York /
Apr.April 11, 2012 11:00 AM

American International Group, usually known as AIG, is jumping back into the real estate investment game after years of trying to minimize its real estate business in the wake of the firm’s near collapse and bailout in 2008, the Wall Street Journal reported. AIG, which received more than $90 billion from the government to keep it afloat during the financial crisis, had been selling off the assets in its $24 billion real estate portfolio, which features trophy properties from around the world.

But the firm has changed direction, a source told the Journal, and the real estate division is reaching out to developers of new apartment buildings in major metropolitan areas, looking to invest in the second half of 2012.

Among the developers contacted by AIG was Hal Fetner, CEO of Durst Fetner Residential. “We’ve done multi-family deals with them before, and we’re interested in working with them again,” he told the Journal. [WSJ]


Related Articles

arrow_forward_ios
Durst, Fetner divided $740M worth of properties in split

Durst, Fetner divided $740M worth of properties in split

1212 Fifth pad is priciest condo listing in northern Manhattan

1212 Fifth pad is priciest condo listing in northern Manhattan

Durst, Fetner split ways

Durst, Fetner split ways

855 Sixth Avenue

New renderings available for 855 Sixth Avenue

Durst Fetner changes course at Herald Square tower

Durst Fetner changes course at Herald Square tower

Placeholder image

Real estate heir Durst goes to court to get prosecutors to turn over missing wife’s case files

Placeholder image

Land Use Committee gives nod to Durst Fetner’s West 57th Street project

A rendering of 625 West 57th Street

Affordability dispute delays W. 57th St. project

arrow_forward_ios