CHICAGO – January 4, 2016 – Associated Bank recently announced the completion of $36,300,000 in syndicated financing for MCZ Development for a new, 11-story mixed-use development at 165-171 North Aberdeen in Chicago.
The 11-story tower, being built by MCZ Development and marketed by @Properties, will have 13,895 sq. ft. of street-level retail space, and 43,438 sq. ft. of office space on the fourth and fifth floors. Floors six through 10 will contain 75 apartment units consisting of 10 studios, 50 one-bedroom units and 15 two-bedroom units. The second and third floors will provide parking for all tenants. The project is scheduled for completion in October 2017.
Founded in 1985, MCZ Development has become one of America’s premier real estate developers, leveraging its extensive experience in construction and general contracting to specialize in high-density infill development projects across the country. @Properties is the largest independent real estate brokerage firm in Illinois and one of the top 12 residential brokers in the U.S.
Associated Bank was the Lead Arranger / Administrative Agent with an $18,150,000 hold. The Private Bank was Co-Lead Arranger with a hold of $18,150,000. Vice President Michael Olson 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 $29 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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