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Ashkenazy Acquires The Shops at Atlas Park in Queens, NY From Macerich

1. Ashkenazy Acquisition Corporation acquires The Shops at Atlas Park from Macerich. 2. This move may signify a strategic shift in Macerich's retail asset management.

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Why Neutral?

The acquisition could diversify Macerich's portfolio impact, yet does not promise immediate financial benefits; similar past acquisitions impacted stock prices momentarily but did not result in long-term trends.

How important is it?

While the acquisition suggests strategic repositioning, its impact on Macerich's share price will depend on execution and market conditions in the ensuing months.

Why Short Term?

The immediate focus is on the successful transfer and renovation of the asset; historical trends show initial stock price fluctuations following acquisitions lasting a few months.

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NEW YORK--(BUSINESS WIRE)--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. 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.

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