MADISON, WIS. – December 7, 2022 – Associated Bank announced the completion of an $18,400,000 loan to an affiliate of Urban Land Interests (ULI) to refinance a Class A office building at 10 East Doty Street in Madison, Wisconsin.
The 194,000 square foot building is located on the Capitol Square in Madison as part of the Block 89 Development that was the foundation for revitalization of the Capitol Square. The address consists of two interconnected buildings: the Insurance Building, which was built around 1921 and extensively renovated in 1998, and the adjoining 10 East Doty building constructed in 1998. The buildings are currently leased to a variety of office and retail tenants, including legal and wealth management firms, ULI’s Capitol Executive Suites, Marigold Kitchen and Johnny Delmonico’s.
Associated Bank has partnered with Urban Land Interests on various projects since 1976. Founded by Brad Binkowski and Tom Neujahr, the firm specializes in the development and leasing of Class A urban office and multi-family apartment buildings in downtown Madison.
Steve Sosnowski and Rebecca Cummings of Associated Bank’s Commercial Real Estate division worked with Michael Leistensnider of Associated Bank Capital Markets to close the transaction. “As the largest Wisconsin based bank, we feel strongly about lending back into the communities we live and work in. This is a fantastic property in one of the more vibrant office markets in the country -- one that continually attracts top businesses and employees,” said Sosnowski.
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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ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $38 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 more than 200 banking locations serving more than 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 www.associatedbank.com.