ITK

Ashkenazy Acquisition Corporation At A Glance


PROJECT STATUS
Construction Complete: 1 |
Acquired by Proponent: 1

WORK BY SECTOR
Retail: 1 |
Hotel/Lodging: 1

PROJECT SIZES
$0 - $10M: 2 | $10M - $100M: 0 | $100M+: 0

Totals

Total Square Footage Free

General

Established 1987
Website Free
Phone Number ITK

 

Headquartered in New York City, Ashkenazy Acquisition Corporation is a private real estate investment firm focusing on retail and office assets. Ashkenazy Acquisition has acquired 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 in excess of $10 billion, Ashkenazy Acquisition has a superior performance history in purchasing and managing premier assets.

Ashkenazy Acquisition is made of an experienced team of in-house, seasoned professionals, including 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.

 

Updates

Fairmont Copley Plaza Hotel
- Mar 10, 2020

Fairmont Copley Plaza Refinanced for $95 Million The Fairmont Copley Plaza Hotel in Boston's Back Bay has been refinanced by Ashkenazy Acquisition Corporation via Crédit Agricole Corporate and Investment Bank for $95 million. The 383-room luxury hotel is prominently located overlooking Boston's landmark Copley Square. Built in 1912, the historic building is surrounded by other landmarks such as the Boston Public Library, Old South Church and Trinity Church.


Fairmont Copley Plaza Hotel
- Dec 19, 2017

Ashkenazy acquires Fairmont Copley Plaza hotel for $163 millionJust days after seller RLJ Lodging Trust's announcement of the sale of the 383-room Fairmont Copley Plaza hotel in the Back Bay, Ashkenazy Acquisition Corporation, owner of the leaseholds for South Station and Faneuil Hall, has closed on the hotel's acquisition for $163 million. The sale amounts to over $425,000 per key; the selling party acquired the hotel in August 2010 for $98.5 million, approximately $257,180 per key. Deutsche Bank provided $95 million in mortgage financing towards Ashkenazy's acquisition. The Fairmont Copley Plaza hotel features amenities such as a restaurant, OAK Long Bar + Kitchen, and 3,000-square-foot rooftop health club. Ashkenazy acquired the 98-year leasehold interest on the 205,165-square-foot office and retail component of Boston's South Station from longtime owner Equity Office Management for $119 million last August and has owned the Faneuil Hall long-term leasehold since 2011.


Fairmont Copley Plaza Hotel
- Dec 17, 2017

Fairmont Copley Plaza hotel in Back Bay acquired for $170 million RLJ Lodging Trust has announced the sale of its’ 383-room Fairmont Copley Plaza hotel in the Back Bay for $170 million. The sale amounts to approximately $444,000 per key; the hotel also features amenities such as a restaurant, OAK Long Bar + Kitchen, and 3,000-square-foot rooftop health club. The name of the hotel’s buyer has not yet been disclosed; the sale is expected to close in the coming weeks. FelCor Lodging Trust, which was acquired by RLJ in April 2017, acquired the hotel in August 2010 for $98.5 million, approximately $257,180 per key, from Fairmont Hotels with a long-term management contract. FleCor performed a $30 million capital improvement program between 2011 and 2012 on the hotel that renovated all guest rooms and the hotel's restaurant and health club. The Fairmont Copley Plaza hotel is located steps from two upcoming major development projects, the 31-story 40 Trinity Place condominium and hotel tower and the $1 billion Back Bay/South End Gateway development atop Back Bay Station.


Faneuil Hall Marketplace Pavilion
- Jun 27, 2017

Sephora opens in Boston’s Faneuil Hall Marketplace Pavilion, Helical Drilling provides helical pile geotechnical design/build solution The replacement of an aging 1970s retail structure at Faneuil Hall Marketplace downtown with a gleaming new pavilion featuring a sweeping glass curtain wall is now complete, with a new Sephora high-end cosmetics store now open. The project presented a unique construction challenge given its’ small footprint and location in a popular historic neighborhood constantly bustling with tourists and office workers. Furthermore, the site is located in an area of Boston created with urban fill, which can be unstable if not properly reinforced. The associated transportation needs to replace existing urban fill would have been unsuitable for Faneuil Hall Marketplace’s tight, busy urban location. Accordingly, it was deemed necessary to install piles on the site in order to strengthen the soil. Traditional pile driving, which is very loud and requires large equipment to perform, not to mention very long individual piles, would not have been ideal for Faneuil Hall Marketplace. Accordingly, geotechnical design/build specialist Helical Drilling was brought in to install helical piles, smaller, more space-efficient foundation elements that can be very cost-effective in a tight urban environment such as Faneuil Hall Marketplace. Helical Drilling performed the helical pile installation in just eight days, allowing the project to proceed quickly, on budget and on schedule. The result is a new modern landmark for Quincy Market that will serve the district for years to come. The following is a photograph of the new Faneuil Hall Marketplace Pavilion, courtesy Helical Drilling: The following are photographs of helical pile installation underway at Faneuil Hall Marketplace Pavilion, courtesy Helical Drilling:


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Ashkenazy Acquisition Corporation's Recent Projects

Fairmont Copley Plaza Hotel
Acquired By Proponent
138 Saint James Avenue, Boston, MA, 02116
Faneuil Hall Marketplace Pavilion
Construction Complete