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Report: AIG's real estate investment arm to buy $175M Boston office portfolio

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Report: AIG's real estate investment arm to buy $175M Boston office portfolio

American International Group Inc.'s global real estate investment arm is acquiring The Hive in Boston from DivcoWest Properties, IPE Real Estate reported, citing sources with knowledge of the matter.

AIG Global Real Estate Investment is paying $175 million for the five-building office portfolio. The buildings span 342,000 square feet of space at 38 Chauncy, and 55, 71, 77 and 87 Summer in the Downtown Crossing submarket.

Upon acquisition, AIG will retain the services of Synergy Investments, which has been advising DivcoWest on the properties.

Neither DivcoWest nor AIG commented on the matter, according to the publication.