NEW YORK CITY-Two years after it bought an 86-complex portfolio from the Kushner Cos. for roughly $1.9 billion, American International Group is considering shedding the package, according to Bloomberg News. The purchase was done in joint venture with Morgan Properties.
Now one of the options is that Morgan may pick up the entire portfolio, according to the report. Potential pricing was not revealed. The complexes are located mostly in New Jersey and Pennsylvania.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
