NEW YORK--(BUSINESS WIRE)--Jul 31, 2025--
Ashkenazy Acquisition Corporation, a private real estate investment firm owned by Ben Ashkenazy, today announced that it has acquired The Shops at Atlas Park in Queens, NY from Macerich and a partner. The acquisition represents Ashkenazy’s format of acquiring and renovating best-in-class retail assets throughout the United States.
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Located in the heart of Queens on 12 acres of land with 1,400 parking spaces, the 374,000-square-foot open-air lifestyle center is a unique destination for shoppers in Queens.
Additional Ashkenazy retail assets include Bayside Marketplace in Miami, Shops at Rivercenter in San Antonio, Shops at the Bravern in Seattle, Beverly Connection in Los Angeles, Cross County Mall in Yonkers, NY, Vernon Hills in Westchester, NY, and others.
“We are excited to enhance and upgrade this extraordinary property into a best-in-class lifestyle center, similar to many lifestyle centers Ashkenazy owns, including Vernon Hills Center in Westchester County,” said Joe Press, COO of Ashkenazy Acquisition Corporation.
More than 15 lenders aggressively bid on the acquisition financing of The Shops at Atlas Park. ACORE CAPITAL was the ultimate winner and supplied the financing.
“We’re proud to be involved in financing this acquisition and have strong conviction in the asset’s potential with Ashkenazy as the sponsor,” said Tony Fineman, Senior Managing Director and Head of Originations at ACORE CAPITAL. “I’ve had the pleasure of financing Ben’s projects for over 20 years and have complete confidence in both his capabilities and those of his team.”
The Shops at Atlas Park is located at the intersection of Cooper Avenue and 80 th Street, just a stone’s throw away from Woodhaven Boulevard, Metropolitan Avenue, and the Jackie Robinson Parkway, and is easily accessible by public transportation.
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. Comprised of an experienced team of in-house, seasoned professionals, with deep experience in acquisitions, finance, construction, leasing, development and marketing, the firm boasts a portfolio containing approximately 100 buildings valued at $12 billion, with a superior performance history in purchasing and managing premier assets worldwide. The integrated team of real estate professionals offers exceptional expertise at all levels of the transaction and subsequent management.
About ACORE CAPITAL
ACORE CAPITAL, LP is one of the leading U.S. commercial real estate investment managers with approximately $19 billion of assets under management. With offices in New York, Los Angeles, Miami, San Francisco and Dallas, ACORE CAPITAL originates, acquires and manages first mortgages, B-notes, mezzanine debt and preferred equity. ACORE CAPITAL’s success has been fueled by its long-standing industry relationships and access to a consistent pipeline of origination opportunities. For more information, please visit WWW.ACORECAPITAL.COM.
Ashkenazy Acquires The Shops at Atlas Park in Queens, NY From Macerich
A federal appeals panel on Thursday reversed a lower court decision that released former Columbia University graduate student Mahmoud Khalil from an immigration jail, bringing the government one step closer to detaining and ultimately deporting the Palestinian activist.
The three-judge panel of the 3rd U.S. Circuit Court of Appeals didn’t decide the key issue in Khalil’s case: whether the Trump administration’s effort to throw Khalil out of the U.S. over his campus activism and criticism of Israel is unconstitutional.
But in its 2-1 decision, the panel ruled a federal judge in New Jersey didn’t have jurisdiction to decide the matter at this time. Federal law requires the case to fully move through the immigration courts first, before Khalil can challenge the decision, they wrote.
“That scheme ensures that petitioners get just one bite at the apple — not zero or two,” the panel wrote. “But it also means that some petitioners, like Khalil, will have to wait to seek relief for allegedly unlawful government conduct.”
Thursday’s decision marked a major win for the Trump administration’s sweeping campaign to detain and deport noncitizens who joined protests against Israel.
Tricia McLaughlin, a Homeland Security Department spokesperson, called the ruling “a vindication of the rule of law.”
In a statement, she said the department will “work to enforce his lawful removal order” and encouraged Khalil to “self-deport now before he is arrested, deported, and never given a chance to return.”
It was not clear whether the government would seek to detain Khalil, a legal permanent resident, again while his legal challenges continue.
In a statement distributed by the American Civil Liberties Union, Khalil called the appeals ruling “deeply disappointing."
“The door may have been opened for potential re-detainment down the line, but it has not closed our commitment to Palestine and to justice and accountability," he said. "I will continue to fight, through every legal avenue and with every ounce of determination, until my rights, and the rights of others like me, are fully protected.”
Baher Azmy, one of Khalil's lawyers, said the ruling was “contrary to rulings of other federal courts."
“Our legal options are by no means concluded, and we will fight with every available avenue,” he said.
The ACLU said the Trump administration cannot lawfully re-detain Khalil until the order takes formal effect, which won't happen while he can still immediately appeal.
Khalil’s lawyers can request that the panel's decision be set aside and the matter reconsidered by a larger group of judges on the 3rd Circuit Court of Appeals, or they can go to the U.S. Supreme Court.
An outspoken leader of the pro-Palestinian movement at Columbia, Khalil was arrested last March. He then spent three months detained in a Louisiana immigration jail, missing the birth of his first child.
Federal officials have accused Khalil of leading activities “aligned to Hamas,” though they have not presented evidence to support the claim and have not accused him of criminal conduct. They also accused Khalil, 31, of failing to disclose information on his green card application.
The government justified the arrest under a seldom-used statute that allows for the expulsion of noncitizens whose beliefs are deemed to pose a threat to U.S. foreign policy interests.
In June, a federal judge in New Jersey ruled that justification would likely be declared unconstitutional and ordered Khalil released.
President Donald Trump's administration appealed that ruling, arguing the deportation decision should fall to an immigration judge, rather than a federal court.
Khalil has dismissed the allegations as “baseless and ridiculous,” framing his arrest and detention as a “direct consequence of exercising my right to free speech as I advocated for a free Palestine and an end to the genocide in Gaza.”
New York City’s new mayor, Zohran Mamdani, said on social media Thursday that Khalil should remain free.
“Last year’s arrest of Mahmoud Khalil was more than just a chilling act of political repression, it was an attack on all of our constitutional rights,” Mamdani wrote on X. “Now, as the crackdown on pro-Palestinian free speech continues, Mahmoud is being threatened with rearrest. Mahmoud is free — and must remain free.”
Judge Arianna Freeman dissented Thursday, writing that her colleagues were holding Khalil to the wrong legal standard. Khalil, she wrote, is raising “now-or-never claims” that can be handled at the district court level, even though his immigration case isn't complete.
Both judges who ruled against Khalil, Thomas Hardiman and Stephanos Bibas, were Republican appointees. President George W. Bush appointed Hardiman to the 3rd Circuit, while Trump appointed Bibas. President Joe Biden, a Democrat, appointed Freeman.
The two-judge majority rejected Freeman's worry that their decision would leave Khalil with no remedy for unconstitutional immigration detention, even if he later can appeal.
“But our legal system routinely forces petitioners — even those with meritorious claims — to wait to raise their arguments," the judges wrote.
The decision comes as an appeals board in the immigration court system weighs a previous order that found Khalil could be deported to Algeria, where he maintains citizenship through a distant relative, or Syria, where he was born in a refugee camp to a Palestinian family.
His attorneys have said he faces mortal danger if forced to return to either country.
Associated Press writers Larry Neumeister and Anthony Izaguirre contributed to this story.
FILE - Palestinian activist Mahmoud Khalil holds a news conference outside Federal Court on Tuesday, Oct. 21, 2025 in Philadelphia (AP Photo/Matt Rourke, File)
