Melrose Park, Ill. — Pacific Southwest Realty has arranged $36 million in refinancing for Winston Plaza, a 400,000-square-foot shopping center located in the Chicago suburb of Melrose Park. Kostas Kavayiotidis of Pacific Southwest Realty and Bryan Gortikov of Gortikov Enterprises arranged the loan through Wells Fargo on behalf of the borrower, NewMark Merrill. Sandra Kist and Josh Ginsborg internally represented NewMark Merrill in the transaction.
NewMark Merrill acquired Winston Plaza in 2008, and shortly thereafter completed an extensive remodeling and repositioning of the property. The center has added more than 100,000 square feet of new retailers in the years since, including Ross Dress for Less, JD Sports, Sistar Beauty, an expanded Five Below and a Cermak Fresh Market.