J. Safra Real Estate to Acquire Faneuil Hall Marketplace from Ashkenazy Acquisition Corporation

NEW YORK, Jan. 29, 2024 /PRNewswire/ -- J. Safra Real Estate ("JSRE"), the real estate arm of The J. Safra Group (the "Group"), announced today that it will acquire Faneuil Hall Marketplace in Boston, Massachusetts. JSRE's acquisition of this signature property from Ashkenazy Acquisition Corporation (AAC) will add to its existing global signature portfolio of high quality, iconic assets including the Gherkin Building in London and 660 Madison Avenue 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 Corporation (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 continuously vibrant mix of local business and life.  

JSRE stated: "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 Corporation.  

About J. Safra Group

The J. Safra Group (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. The Group's banking interests in 160 locations globally, are: Safra National Bank of New York, headquartered in New York City, USA; J. Safra Sarasin, headquartered in Basel, Switzerland; and Banco Safra, headquartered in Sao Paulo, Brazil; all independent from one another from a consolidated supervision standpoint.

The Group's real estate holdings, through its real estate arm, J. Safra Real Estate, consist of more than 200 premier commercial, residential, retail and farmland properties worldwide, such as 660 Madison Avenue in New York City and London's iconic Gherkin Building. Its investments in other sectors include, among others, agribusiness holdings in Brazil and Chiquita Brands International Inc. With deep relationships in markets worldwide, the Group is able to greatly enhance the value of businesses which are part of it. There are more than 34,000 employees associated with the Group.

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 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 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, 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.

MEDIA CONTACTS

J. Safra Group and J. Safra Real Estate
Ross Lovern
Kekst CNC
[email protected]
+1-212-521-4866

Ashkenazy Acquisition Corporation
Russ Colchamiro
Marino.
[email protected]  
+1-646-285-5137

SOURCE J. Safra Group