Ashkenazy acquires 374,000 s/f The Shops at Atlas Park from Macerich
Queens, NY Ashkenazy Acquisition Corp. has acquired The Shops at Atlas Park from Macerich and a partner. The acquisition represents Ashkenazy’s format of acquiring and renovating best-in-class retail assets throughout the U.S.
Located on 12 acres with 1,400 parking spaces, the 374,000 s/f open-air lifestyle center is a unique destination for shoppers.
Additional Ashkenazy retail assets include Bayside Marketplace in Miami, Shops at Rivercenter in San Antonio, Shops at the Bravern in Seattle, and Beverly Connection in Los Angeles, Cross County Mall in Yonkers, NY, Vernon Hills in Westchester, NY, and others.
“We are excited to enhance and upgrade this extraordinary property into a best-in-class lifestyle center, similar to many lifestyle centers Ashkenazy owns, including Vernon Hills Center in Westchester County,” said Joe Press, COO of Ashkenazy Acquisition.
More than 15 lenders aggressively bid on the acquisition financing of The Shops at Atlas Park. ACORE CAPITAL was the ultimate winner and supplied the financing.
“We’re proud to be involved in financing this acquisition and have strong conviction in the asset’s potential with Ashkenazy as the sponsor,” said Tony Fineman, senior managing director and head of originations at ACORE CAPITAL. “I’ve had the pleasure of financing Ben’s projects for over 20 years and have complete confidence in both his capabilities and those of his team.”
The Shops at Atlas Park is located at the intersection of Cooper Avenue and 80th St.,near Woodhaven Blvd., Metropolitan Ave., and the Jackie Robinson Pkwy., and is easily accessible by public transportation.