Mizuho Provides $289M Financing for Queens Retail Acquisition
Acadia Realty Trust and TPG Real Estate purchased The Shops at Skyview from Blackstone and Perform Properties
By Brian Pascus January 12, 2026 2:50 pm
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Acadia Realty Trust and TPG Real Estate have secured $289 million in acquisition financing to finalize their recent purchase of The Shops at Skyview Center, a 555,000-square-foot grocery-anchored retail center in Flushing, Queens, Commercial Observer can first report.
Acadia and TPG purchased the asset from Blackstone and Perform Properties in a $425 million deal that closed this month.
Mizuho provided the acquisition financing, while Newmark’s Jordan Roeschlaub, Nick Scribani, John Caraviello and Tim Polglase arranged the debt. Newmark’s Adam Spies, Adam Doneger, Conor Lalor and Ben Lushing arranged the sale.
CO first reported in July that the retail complex was up for grabs and expected to sell for $450 million. Blackstone made only a small profit in the deal, however, as the private equity firm acquired the retail center from Onex Real Estate Partners in 2015 for $400 million.
Located at 40-24 College Point Boulevard in Flushing — among the largest and most diverse neighborhoods in New York City — The Shops at Skyview is a multilevel shopping center that opened in 2010. The property is currently 97 percent leased and features a nearly 2,700-spot parking garage.
Approximately 12 million people visit the complex annually, according to The Real Deal.
The Shops at Skyview is connected to a larger 3 million-square-foot residential development that includes 1,200 multifamily units and 50,000 square feet of medical office space. Moreover, the complex sits about a mile from Citi Field and the site of where New York Mets owner Steve Cohen and Hard Rock are building a new casino and mixed-use entertainment complex, a project that won city and state approval in December.
The site is currently anchored by BJ’s Wholesale Club and Sky Foods, but past and present tenants have included Target, Old Navy, Skyfood Grocery, as well as Marshalls, Restoration Hardware Outlet, and Best Buy.
Acadia Realty Trust and TPG Real Estate did not respond to requests for comment.
Brian Pascus can be reached at bpascus@commercialobserver.com.
