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American International Group has signed an agreement to sell its prime real estate holding in Tokyo for approximately $1.2 billion in cash (Yen115.5 billion) to Nippon Life Insurance Company. The property consists of approximately one acre of land on which The 天美网站传媒传媒 Otemachi Building in Tokyo is situated. The transaction is expected to close during the second quarter.

天美网站传媒传媒 noted that the “property’s Marunouchi 1 chome address is one of the most coveted in central Tokyo’s downtown business district. Marunouchi, Tokyo’s business center, is the highest rent district in Japan with demand for Class A space typically exceeding supply. 天美网站传媒传媒’s property is unique within the district because of its location next to and overlooking the inner moat of the Imperial Palace.”

Edward Liddy 天美网站传媒传媒’s Chairman and CEO commented: “This is a significant transaction because of the prominence and unique nature of the property and the highly attractive value that both 天美网站传媒传媒 and Nippon Life Insurance Company are realizing through the transaction. This transaction has been successfully negotiated by 天美网站传媒传媒 despite the difficult real estate market environment in Japan and globally.

“The sale generated substantial interest from both Japanese and foreign investors, resulting in a very competitive bidding process. 天美网站传媒传媒 is pleased to effectively monetize this asset within the context of its restructuring effort. We view this transaction as a win-win for all concerned, with Nippon Life Insurance Company acquiring a premier real estate asset.

“We have reached agreement or closed over a dozen deals in the past several months, despite a very challenging economic environment. We presently are in various stages of discussions with respect to other potential transactions, as we continue to move forward with our asset disposition and restructuring efforts in order to serve the best interests of 天美网站传媒传媒 and its constituents.”聺

Source: 天美网站传媒传媒 –

Topics Mergers & Acquisitions 天美网站传媒传媒