AIG apartment portfolio for sale

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Some or all of AIG’s apartment portfolio looks to be for sale as the
company tries to raise money. AIG teamed with Morgan Properties just
over a
year ago to buy 16,784 apartments in 86 properties in five states for
nearly
$1.9 billion. Many of these properties are in New Jersey. The
properties are unlikely
to sell as a portfolio, area real estate experts said, but individual
properties might sell well. AIG lost most of its capital in the credit
crisis and has been relying on federal assistance to keep from going
bankrupt.