NEW YORK–(BUSINESS WIRE)–Ashkenazy Acquisition Corporation (AAC), a private real estate investment firm, today announced a year-end refinancing of $7.5M for Renaissance Plaza, a 76,000-square-foot grocery anchored shopping center located in Atlantic City, New Jersey.
AAC received a 7-year fixed-rate loan from Provident Bank as part of the refinancing of an existing loan that was maturing. The financing was brokered by a team led by Daniel Fromm, a Senior Managing Director of the Debt & Structured Finance Team at Newmark.
“Despite the challenges brought upon by the pandemic, this property has done exceptionally well,” said Joe Press, Chief Operating Officer at Ashkenazy Acquisition Corporation. “Owning one-of-a-kind, irreplaceable assets will always be in demand.”
“This financing is a testament that strong sponsors like AAC continue to tap the debt capital markets even in these volatile times,” Fromm added.
Ashkenazy Acquisition Corporation is a New York-based private real estate investment firm focusing on retail, hotel and office assets located throughout the United States and Canada. Ashkenazy Acquisition has a superior performance history in purchasing and managing premier assets.
About Ashkenazy Acquisition Corporation
Headquartered in New York City, Ashkenazy Acquisition Corporation is a private real estate investment firm focusing on the acquisition, development, asset management and marketing of retail, hotel and office assets. Ashkenazy Acquisition’s portfolio boasts over 15 million square feet of retail, hospitality, office and residential properties, located throughout the United States, Canada and England. With a portfolio containing more than 100 buildings valued at approximately $12 billion, Ashkenazy Acquisition has a superior performance history in purchasing and managing premier assets worldwide. Ashkenazy Acquisition is comprised of an experienced team of in-house, seasoned professionals, with deep experience in acquisitions, finance, construction, leasing, development and marketing. The integrated team of real estate professionals offers exceptional expertise at all levels of the transaction and subsequent management.