Ben Ashkenazy Emerges as Beverly Hills’ Largest Retail Landlord Following Newest Acquisition of Iconic Neiman Marcus Site

BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Ashkenazy Acquisition Corp., a private real estate investment firm owned by Ben Ashkenazy, today announced a major retail acquisition of the two-city block Neiman Marcus site in the Beverly Hills Golden Triangle. The new acquisition positions the firm as the largest owner of premier retail space in one of the most coveted shopping districts in the world.

The portfolio, which now includes the former Barneys building on Wilshire Boulevard, the Neiman Marcus site, and other holdings in the Golden Triangle, totals 350,000 square feet of high-end retail in the district.

This strategic acquisition significantly expands Ashkenazy’s presence in Beverly Hills and reinforces the firm’s focus on irreplaceable, best-in-class retail assets located in globally recognized luxury corridors.

Recent comparable sales in the immediate area underscore the long-term value of assets of this scale. Recent transactions include the approximately $220 million acquisition of the Wilshire/Rodeo site by the Mateen Family and the approximately $100 million purchase of an 80,000-square-foot Wilshire Boulevard property by Alo for its new headquarters.

“Ashkenazy continues to demonstrate an uncanny ability to close on iconic assets with unparalleled speed,” said Jay Luchs, Executive Vice Chairman at Newmark. Sources familiar with the transaction confirmed that the entire acquisition happened in seven days, from start to finish.

About Ashkenazy Acquisition Corporation
Headquartered in New York City, Ashkenazy Acquisition Corporation is a private real estate investment firm focusing on retail, hotel, and office assets. Ashkenazy Acquisition has acquired over 15 million square feet of real estate, located throughout the United States and Canada. With a portfolio containing more than 100 buildings valued at $12 billion, Ashkenazy Acquisition has a superior performance history in purchasing and managing premier assets countrywide. For more information, visit [www.aacrealty.com].