CHICAGO – February 2, 2016 – Associated Bank has closed a $10,600,000 acquisition and bridge loan for Molto Properties to acquire a 246,446 sf cross-dock industrial building in the Randall Crossings Business Park located at 2770 Alft Court in Elgin, Ill.
Molto Properties, founded in 2008, is a privately held, entrepreneurial industrial real estate firm that currently has four million square feet of industrial properties under management. The company’s focus is the acquisition, development and operation of quality industrial real estate.
“We are excited about the opportunity to help Molto Properties acquire the 2770 Alft property and hope this is the first of many projects we’ll collaborate on together,” said Craig Przygoda, senior vice president with the Commercial Real Estate division of Associated Bank who managed the loan.
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.