Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TOKYO-After months of speculation, American International Group Inc. has agreed to sell its Japanese headquarters for $1.2 billion to Nippon Life Insurance Co. The deal is expected to close before the end of the second quarter.

As GlobeSt.com reported last week, AIG was in talks with at least two companies.

The 15-story property is located in the Otemachi section of Tokyo across from the Imperial Palace. It is thought that when the deal is made public the HQ will go to a Japanese insurance company. The 35-year-old building was put on the market in February and Merrill Lynch in reported to be handling the transaction. There are 25 tenants located in the class-A building, 1,000 employees in total. Every lease in the property expires in 2010.

The deal is part of AIG’s attempt to begin repaying the federal government the $45 billion it was loaned in the the rescue package.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.