Chicago & Midwest + Midwest + Finance | August 12, 2022

Associated Bank closed on $67,534,926 of construction financing to Greystar for a community of luxury townhomes in Maple Grove, Minnesota

Associated Bank Provides Greystar with Financing for Twin Cities Townhomes

Associated Bank closed on $67,534,926 in financing for Greystar to construct Summerwell Maple Grove, a community of two-story luxury townhomes located at 15400 105th Ave. North in Maple Grove, MN, approximately 17 miles northwest of Minneapolis. SVP Edward “Ted” Notz with Associated’s commercial real estate division arranged the financing.

The property formerly was unimproved agricultural land. Summerwell Maple Grove will consist of 220 two-story luxury rental townhomes, ranging in size from 1,187 to 1,996 square feet. Units will be available in two, three and four-bedroom configurations, all with a dedicated two-car garage.

Amenities will include a luxury clubhouse with fitness center, yoga room, business center, clubroom with kitchen, outdoor pool with patio & lounge area and grilling station, dog park, walking trails, children’s playground and putting green. Construction will begin shortly and completion is expected the same time next year.

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About Paul Bubny

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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