AIG Trades Seoul Mega-Complex to Brookfield

Construction on the IFC Seoul mixed-use complex was completed in 2012.

SEOUL—AIG Global Real Estate has sold the International Finance Centre Seoul, which it developed in partnership with the Seoul Metropolitan Government, to Brookfield. Deal terms were not disclosed; industry data put the sale of the mixed-use complex at north of US$1.5 billion.

“We are grateful to the investors and partners, including the Seoul Metropolitan Government, who contributed to the creation of IFC Seoul over the past 13 years,” says Douglas Tymins, president and CEO of AIG Global Real Estate. “We firmly believe that Brookfield, with a successful diversified international portfolio, will further enhance the value of IFC Seoul, and serve as an invaluable partner to the Seoul Metropolitan Government.”