CHICAGO – November 19, 2018 – Associated Bank announces the completion of a $29,400,000 syndicated construction loan for the redevelopment of a former Sears building at Brookfield Square, 115 S. Moorland Road in the Milwaukee suburb of Brookfield, Wisconsin, into an 111,972-square-foot entertainment corridor.
Located at the intersection of Bluemound and Moorland Roads near Interstate 94, Brookfield Square, which opened in 1967, is owned by CBL Properties. The redevelopment will deliver new dining and entertainment options, including new-to-market entertainment concept, WhirlyBall, and BistroPlexSM from Marcus Theatres®, which combines dining with moviegoing in every auditorium. Outback Steakhouse and Uncle Julio's Mexican Restaurant will be located on nearby pad sites. Construction is underway and is estimated to be complete during the third quarter of 2019.
Headquartered in Chattanooga, Tennessee, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities.
As lead arranger and administrative agent, Associated Bank is holding $20,900,00 of the loan with the remainder syndicated to West Suburban Bank. Vice President Mitchell Vega of the Commercial Real Estate division of Associated Bank managed the loan and closing.
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, Texas and Wisconsin.
ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of over $33 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.