Associated Bank Closes on 10th Loan to Shorewood Development
Associated Bank has closed on an $11,245,000 loan to Shorewood Development Group to refinance an existing land acquisition loan, and provide funds for the construction of The Shops of Buffalo Grove in Buffalo Grove, IL. The 25-acre retail development will be shadow-anchored by the area’s newest Woodman’s Market and a standalone Chase Bank.
VP Daniel Barrins, with Associated Bank’s commercial real estate division, originated the loan. It represents the bank’s 10th loan to Shorewood.
The development, consisting of two buildings totaling 36,007 square feet, will serve the communities of Buffalo Grove, Riverwoods, Lincolnshire, Deerfield and Wheeling. Existing signed leases include Starbucks, T-Mobile, Mod Pizza, Panera Bread and Great Clips. Tenants are expected to be open for business in the spring.
Shorewood specializes in repositioning existing buildings and ground-up construction of retail projects. Partners Aaron Roth and Louis Schriber III founded Shorewood in 2007.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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