Pasternak-led firm buys NJ property from AIG

NEW YORK, June 3 (Reuters) - KABR Real Estate Investment Partners, a fund run by former Knight Trading CEO Kenneth Pasternak, said on Wednesday that it bought a New Jersey office building from American International Group. (AIG.N)

AIG is selling off assets, including real estate properties, to help repay federal loans that add up to about $85 billion. It also this week reached deals to sell two New York buildings, including its Pine Street headquarters.

The price for the properties were not disclosed. AIG also recently sold a prized Tokyo property for $1.2 billion.

The New Jersey property has 235,000-square-foot of commercial space and is located in Ridgefield Park.

KABR is a newly formed fund set up to buy commercial and residential properties within 150 miles of the New York metropolitan area. Current tenants in the New Jersey property purchased from AIG include Bank of America, Samsung and AGFA, according to to the firm. (Reporting by Lilla Zuill; Editing by Derek Caney)