CHICAGO – April 6, 2016 – Associated Bank recently approved two loans for more than $13.6 million to build state-of-the-art Veterans Administration Primary Care Clinic facilities in Nevada and Iowa. The two acquisition and construction loans were awarded to affiliates of W.D. Schorsch, LLC of Lake Forest, Ill.
The first loan, to Pahrump VA LLC for $7,100,000, will be used to build a clinic for veterans at 220 South Lola Lane in Pahrump, Nev., approximately 100 miles west of Las Vegas. The 14,574 sf single-story facility is a build-to-suit and will be constructed on a site immediately north of the Desert View Hospital in Pahrump. The clinic will be completed this fall. A second loan to Knoxville VA LLC for $6,570,000 will be used to construct a primary care VA clinic in Knoxville, Iowa, approximately 40 miles southeast of Des Moines. The 16,731 sf single-story build-to-suit clinic, scheduled for completion by the end of the year, will be located at 1607 N. Lincoln Street.
Founded in 1983, W.D. Schorsch specializes in the development and management of build-to-suit projects for the United States General Services Administration (GSA) throughout the continental United States, with a focus in the Midwest. The company has a long and successful history of government build-to-suits with Associated Bank.
Headquartered in Chicago, Associated Bank’s Commercial Real Estate division is committed to providing commercial real estate developers/owners/operators with an array of financing solutions, in addition to products and services that meet their unique needs. Associated’s Commercial Real Estate division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio and Wisconsin.