Green Bay, Wis. – November 3, 2015 – Associated Bank announced the recent completion of a $6.9M loan for an affiliated entity of Westminster Capital. The loan will enable Westminster to acquire and reposition a 97,368-rsf office building at 6820 N. Wedgewood Road North in Maple Grove, Minn. The Class A building, built in 2005, was originally developed as a build-to-suit regional operations center with a commercial cafeteria and a 5.5:1,000 parking ratio for The Hartford company. Hartford consolidated operations at an existing office in Bloomington, Minn., and did not extend their lease on the Maple Grove building.
Founded in 1988, Westminster Capital has over 25 years of experience managing complex real estate matters for private investors and family offices, and is headquartered in Lake Forest, Ill.
Senior Vice President Edward (Ted) Notz of the Commercial Real Estate division of Associated Bank 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.