Wells Fargo Provides $31.2M Recapitalization Loan For Retail Property At 1254 Winston Plz In Melrose Park
1254 Winston Plz, Melrose Park, Illinois 60160, United States
$31,200,000
$76/SF
Building Size
410,000 SF
Asset Type
Retail
Closing
Jun 14, 2022
AI
The retail property located at 1254 Winston Plz in Melrose Park has been involved in a closed transaction. The property spans 410,000 square feet and is owned by NewMark Merrill Cos.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $31,200,000
- Market: Melrose Park
- Asset Size: 410,000 square feet
Bryan Gortikov of Gortikov Enterprises represented the buyer, acting as their broker in the deal.
Wells Fargo provided a recapitalization loan in the amount of $31,200,000 for the transaction.
Players
Melrose Park Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93