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Chicago & Midwest  + Greater Chicagoland  + Finance  | 
NewMark Merrill completed a recapitalization of Winston Park, a 410,000-square-foot community center in Melrose Park, IL

NewMark Merrill Recapitalizes Melrose Park Shopping Center 

NewMark Merrill Companies completed a recapitalization totaling $31.2 million at Winston Plaza, a 410,000-square-foot community center located on North Avenue and 9th Street in Melrose Park, IL. The financing includes funds for additional improvements and the addition of several new tenants. 

Chairman and CEO Sandy Sigal, COO Susan Rorison, SVP James Patton, CFO Sandra Kist and EVP Brad Pearl, comprised the refinance team. Bryan Gortikov of Gortikov Enterprises arranged the financing with Wells Fargo Bank.   

“Winston Plaza has been a core asset for us since we acquired it over 15 years ago,” said Sigal. “It plays a key role as the premier shopping destination in Melrose Park community, and we felt it was important to continue to reinvest in the center post-COVID. We have seen an amazing amount of leasing activity over the last few quarters bringing in further national, regional and local tenants.” 


Inside The Story

NewMark MerrillGortikov Enterprises' Gortikov

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing