[IMGCAP(1)]ATLANTA-After the federal government takeover of American International Group on Wednesday, questions were raised as to what effect the $85-billion bailout will have on the company’s real estate holdings. Locally, AIG’s 138-acre mixed-use development sprung to many brokers’ minds.

Atlantic Station, which the company has been involved with since 1999, has been in the works for more than a decade. AIG partnered with locally based developer Jacoby Development Inc. to build the initial stages and is now the sole developer of the master plan, which includes six million sf of class A office space, two million sf of retail and entertainment, 5,000 residences and 1,000 hotel rooms.

“When we talk about [Atlantic Station], it’s developed by AIG Global Real Estate,” says Brian Leary, VP of AIG Real Estate Investment Corp. AIG Global is a New York City-based entity that is comprised of a group of international companies within AIG Investments. “Atlantic Station is unaffected by any of the current AIG parent company issues. It is fully funded and construction is under way and will continue,” Leary tells GlobeSt.com.

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