MINNEAPOLIS – October 19, 2022 – Associated Bank announced completion of a $30 million loan for Chase Real Estate to construct 175 upscale apartment units in Chaska, Minnesota. The four-story complex, The Gallery of Chaska, will be located on 5.72 acres at 3200 Clover Ridge Drive in Chaska.

 

Units will have condo-style finishes with underground parking for 182 vehicles. The project will feature 95 one-bedroom, 40 one-bedroom plus den, and 40 two-bedroom units with southern and western views of existing wetlands. Community amenities will include an expansive courtyard and pool. The project is in proximity to Chaska Community Park, Clover Ridge Elementary School, and a trail system connecting the area to other parts of Chaska, and was planned to complement the City of Chaska’s Clover Ridge Master Plan. Completion is scheduled for February 2024.

 

Chase Real Estate specializes in multi-family development, single-family land development and sales, construction and financing. The company has been involved in Twin Cities real estate for over 30 years and previously was one of the state's largest single-family home builders. As a multi-family developer and investor, they currently have over 2,000 apartment homes completed and under construction.

 

“We are pleased to partner with Chase Real Estate to deliver construction financing for The Gallery of Chaska, a project that reflects their development expertise by ensuring The Gallery complements the new housing diversity within the Clover Ridge neighborhood,” said Randy Stille, senior vice president with Associated Bank’s Commercial Real Estate division. Stille managed the loan 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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ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NYSE: ASB) has total assets of $37 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.