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
About this deal
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.
The retail loan at 1254 Winston Plz, Melrose Park, Illinois 60160, United States in Melrose Park, Illinois financed for $31.2M in 2022. The building is 410,000 square feet, implying about 76 per square foot on the published price. Bryan Gortikov, Gortikov Capital appear on the loan alongside Gortikov Capital. This page is the Melrose Park, Illinois file for the 1254 Winston Plz, Melrose Park, Illinois 60160, United States retail financed: pricing, party profiles, and other closed retail comps from the same Melrose Park sit in the Market section below. Filter that Melrose Park retail set by closing date to see what else financed near 1254 Winston Plz, Melrose Park, Illinois 60160, United States around 2022. Published consideration for 1254 Winston Plz, Melrose Park, Illinois 60160, United States is $31.2M, dated 2022. Cite this Wells Fargo Provides $31.2M Recapitalization Loan For Retail Property At 1254 Winston Plz In Melrose Park loan when underwriting similar retail product around Melrose Park, Illinois.
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