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Associated Bank Arranges $145M Loan for MN Office Building
Associated Bank completed a $145,175,000 financing package for the Ryan Companies, for the construction of a three-story, single-tenant Class A office and laboratory building in Maple Grove, Minnesota.
Steve Clifford, a senior vice president with Associated Bank’s Commercial Real Estate Division, handled the loan arrangements and closing. The syndicated deal included a total of four lenders, with Associated Bank holding $50 million of the total financing package. The other three participants are First National Bank of Omaha, Alerus Financial and Johnson Bank.
The new build-to-suit facility will be constructed on a roughly 38-acre parcel approximately 25 miles northwest of Minneapolis-St. Paul. The 400,000-square-foot building will include approximately 320,000 square feet of office and 80,000 square feet of state-of-the-art laboratory space. Construction has begun and is expected to be completed in late 2025.
