CHICAGO – February 24, 2015 – Associated Bank announced the completion of a $6,675,000 loan to David Israel / Learsi & Co for the refinancing for Westland Plaza, a 141,148 SF retail shopping center located at 6733 Odana Road, in Madison, Wis. The property is across Gammon Blvd. from West Towne Mall, a major regional mall. Burlington Coat Factory and Jo-Ann Fabrics are the anchor tenants at Westland; other tenants include Rogan Shoes, Burger King, and Hand & Stone Massage and Day Spa. The second project was $1,430,000 to Penny Racine, LLC for the acquisition of the 150,580 SF JC Penney store at Regency Mall in Racine, Wis.
“David Israel is a long-time client of Associated Bank and has a track record of success re-tenanting older retail centers. We were pleased to work with him on these two opportunities. Associated Bank actually provided the original construction loan for Westland Plaza more than 10 years ago,” said Rosemary Kehr, a senior vice president at Associated Bank.
Senior Vice President Rosemary C. Kehr, from the Commercial Real Estate division of Associated Bank in Chicago, originated and managed the closings for all four loans.
Headquartered in Chicago, Associated Bank’s Commercial Real Estate division is committed to providing its clientele of developers/owners/operators of commercial real estate with financing solutions and an array of products and services catering to the unique demands of their business. The Commercial Real Estate division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio and Wisconsin.