Ashkenazy Acquisition Corp. purchased Orland Park Place, a 600,000-square-foot regional power center in Orland Park, a Chicago suburb, for $60 million as part of its plan to deploy up to $750 million in acquisitions across retail, hospitality, and distressed debt in the U.S.

Orland Park Place sits about 25 miles southwest of downtown Chicago at the LaGrange Road and West 151st Street intersection, with easy access to multiple interstates and proximity to downtown Chicago.

The seller was PMAT Companies and Webster Bank provided financing; the deal was an all-cash, no-contingency close with a quick close, according to PMAT founder Bob Whelan.

The press release frames the deal as part of Ashkenazy’s broader expansion in the U.S. and Canada, highlighting its track record in acquiring and managing premier properties.

Orland Park Place includes tenants such as Nordstrom Rack, Dick’s, Marshalls, Ross, Planet Fitness, and Barnes & Noble, contributing to strong sales potential and an attractive merchandising mix.

This acquisition follows Ashkenazy’s recent purchase of The Shops at Atlas Park in Queens, NY and aligns with the firm’s strategy to invest in well-located, value-add retail centers in densely populated infill areas with strong merchandising.

The all-cash, no-contingency purchase with a quick close is part of Ashkenazy’s plan to deploy up to $750 million for premier retail, hospitality, and distressed debt nationwide.

Ashkenazy Acquisition Corporation is a New York City-based private real estate investment firm with more than 15 million square feet and a portfolio of over 100 buildings valued at about $12 billion.