New York-based Ashkenazy Acquisition Corp. has closed on its acquisition of the leasing rights to Faneuil Hall Marketplace from troubled mall REIT General Growth Properties.

The 63-year lease comes with expectations from the city, which owns the four-building marketplace, to improve the property, as well as relations with its merchants, the Boston Globe reported.

The city approved the acquisition last month.

Ashkenazy hired commercial real estate firm Jones Lang LaSalle as property manager for the complex, the Globe reported.