News: Retail
Posted: February 23, 2024
J. Safra Real Estate acquires Faneuil Hall Marketplace
Boston, MA J. Safra Real Estate (JSRE), the real estate arm of The J. Safra Group (The Group), will acquire Faneuil Hall Marketplace. JSRE’s acquisition of this signature property from Ashkenazy Acquisition Corporation (AAC) will add to its existing global signature portfolio of high quality assets including the Gherkin Building in London and 660 Madison Ave. in New York City, among others. Terms of the acquisition were not disclosed.
The Group, with total assets under management of over USD $300 billion, consists of privately-owned banks under the Safra name and investment holdings in asset-based business sectors such as real estate and agribusiness.
Ashkenazy Acquisition Corp. (AAC), a private real estate firm owned by Ben Ashkenazy, has, from time to time, been successful and strategic partners with JSRE on assets throughout their respective portfolios.
Faneuil Hall Marketplace has anchored downtown Boston since its construction in 1827, serving as a commercial hub of the city with a mix of local business and life.
JSRE said, “Faneuil Hall Marketplace is a tremendous asset and truly the heart of Boston. It is consistent with our real estate portfolio of signature assets. We look forward to working in lockstep with the Boston Planning & Development Agency, the City of Boston and other local constituents to continue the excitement, pride, and success of this world-class destination.”
“It has been our honor and privilege to have served Faneuil Hall Marketplace, the City of Boston, and the millions of visitors who have enjoyed their experiences at this historic asset,” said Joe Press, chief operating officer at Ashkenazy Acquisition Corp.
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