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Chicago & Midwest  + Midwest  + Apartments  |  September 30, 2024
Jasmine Kilman
By: Jasmine Kilman

Associated Bank Closes $55M for Minnesota MF

Associated Bank has completed a $55 million financing package for Greystar for the construction of a 269-unit apartment building at 10702 Red Circle Drive in Minnetonka, Minnesota. Associated Bank is the lead arranger and administrative agent.

Edward (Ted) Notz, a senior vice president with Associated Bank’s Commercial Real Estate Division, originated the loan. The project, Marlowe Opus Station, will include in-unit Wi-Fi, stainless steel appliances, quartz kitchen countertops, luxury vinyl plank flooring and tile showers. Common amenities will include a pool, courtyard, fitness room, clubroom, sauna, pet wash, private work-from-home offices, bike storage, structured parking, EV charging stations and storage units.

Demolition is currently underway on the vacant office building on the site. Occupancy is anticipated by fall of 2026. The project is in the 550-acre Opus 2 Parkway, a mixture of office, industrial, commercial and residential uses.

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Associated BankGraystar

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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