CHICAGO – October 23, 2017 – Associated Bank was the Lead Arranger and Administrative Agent for a syndicated construction loan in the amount of $66,850,000 for SMASH Residential Chicago, LLC, an affiliate of ECD Company. The project, called 444 Social, is located at 444 Parkway Drive in Lincolnshire, Ill. It will be a Class A, 302-unit multifamily luxury apartment development with 127 one-bedroom, 126 two-bedroom, and 15 three-bedroom units. Leasing will begin in the fall of 2018 with completion is expected by spring of 2019.
Associated Bank provided $20 million of the loan package. Krista Casper, senior vice president in the Commercial Real Estate division of Associated Bank, originated the loan.
ECD Company, headquartered in Lincolnshire, Illinois, was established in Denver, Colorado in 1965. Their portfolio of hotels, apartments, condominiums, single family homes, industrial buildings, commercial spaces, and mixed use development has grown consistently since then, with a current value of $450 million. ECD is committed to building value through innovative products while also supporting economic growth within the communities where it develops projects.
Headquartered in Chicago, Associated Bank’s Commercial Real Estate division is committed to providing commercial real estate developers, owners and/or 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, Texas and Wisconsin.
ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $30 billion and is one of the top 50 publicly traded U.S. bank holding companies. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from over 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio, and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.
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