MINNEAPOLIS – January 12, 2024 – Associated Bank announced completion of a $145,175,000 financing package for the Ryan Companies US, Inc., for construction of a three-story, single-tenant Class A office and laboratory building in Maple Grove, Minnesota. The syndicated deal included a total of four lenders. Associated Bank acted as Joint Lead Arranger and Administrative Agent, holding $50 million of the total financing package. The other three participants are: First National Bank of Omaha, a national banking association; Alerus Financial, N.A., a national banking association; and Johnson Bank, a Wisconsin banking corporation.


The new build-to-suit facility will be constructed on a roughly 38-acre parcel within the Arbor Lakes neighborhood of Maple Grove, north of Interstate 94 and just west of Highway 169. Maple Grove is approximately 25 miles northwest of Minneapolis/St. Paul.


Upon completion, the 400,000 square foot-building will include approximately 320,000 square feet of office and 80,000 square feet of state-of-the-art laboratory space featuring high-end design and finishes. Employee amenities will include a conference center, credit union/bank, cafeteria, coffee shop, fitness center, bike room, e-Bar, game room, and greenspace with outdoor walking paths and cafeteria seating. Construction has begun and is expected to be completed in late 2025. 


Founded in 1938, Ryan offers comprehensive commercial real estate services as a national real estate developer, designer, builder, capital markets advisor, and real estate manager with 17 offices and completed projects in nearly every state. Their market depth includes life sciences, healthcare, industrial, multifamily, retail and senior living.


Steve Clifford, a senior vice president with Associated Bank’s Commercial Real Estate Division, handled the loan arrangements and closing.


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. The division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Texas and Wisconsin.


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Associated Banc-Corp (NYSE: ASB) has total assets of $41 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from nearly 200 banking locations serving over 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan production offices in Indiana, Michigan, Missouri, New York, 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 http://www.AssociatedBank.com/.