Newmark’s Fromm leads financing team
Atlantic City, NJ — Ashkenazy Acquisition Corporation (AAC), a private real estate investment firm, announced a year-end refinancing of $7.5M for Renaissance Plaza, a 76,000 s/f grocery anchored shopping center located in Atlantic City.
AAC received a 7-year fixed-rate loan from Provident Bank as part of the refinancing of an existing loan that was maturing. The financing was brokered by a team led by Daniel Fromm, a senior managing director of the debt & structured finance team at Newmark.
“Despite the challenges brought upon by the pandemic, this property has done exceptionally well,” said Joe Press, COO at Ashkenazy Acquisition Corporation. “Owning one-of-a-kind, irreplaceable assets will always be in demand.”
“This financing is a testament that strong sponsors like AAC continue to tap the debt capital markets even in these volatile times,” Fromm added.
Ashkenazy Acquisition Corporation is a NY-based private real estate investment firm.