AIG 2015 Annual Report Download - page 124
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ITEM 7 / INVESTMENTS
124
The following table presents our CMBS available for sale investments by geographic region:
Fair Value at Fair Value at
December 31, December 31,
(in millions) 2015 2014
Geographic region:
New York $3,149 $ 2,759
California 1,244 1,305
Texas 791 831
Florida 520 562
New Jersey 433 457
Virginia 362 389
Illinois 323 344
Pennsylvania 295 291
Georgia 253 286
Massachusetts 231 247
Maryland 229 222
North Carolina 218 222
All Other* 5,523 4,970
Total $13,571 $ 12,885
* Includes Non-U.S. locations.
The following table presents our CMBS available for sale investments by industry:
Fair Value at
Fair Value at
December 31, December 31,
(in millions) 2015 2014
Industry:
Retail $3,978 $ 3,700
Office 3,896 3,652
Multi-family* 3,036 2,889
Lodging 1,005 1,127
Industrial 868 679
Other 788 838
Total $13,571 $ 12,885
* Includes Agency-backed CMBS.
The fair value of CMBS holdings remained stable throughout 2015. The majority of our investments in CMBS are in tranches
that contain substantial protection features through collateral subordination. The majority of CMBS holdings are traditional
conduit transactions, broadly diversified across property types and geographical areas.