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.”
- ◦Financing
