CHICAGO – February 16, 2023 – Associated Bank announced the closing of a $8,639,027 bridge loan to an affiliate of Metro Storage LLC for completion of 504 climate-controlled self-storage units (49,806 square feet), and 39 non-climate-controlled units (13,050 square feet), at 3286 Barclay Avenue in Spring Hill, Florida. The project also includes 83-covered and 31-uncovered RV and boat parking spaces. The property was previously vacant land.
Lake Forest, Illinois-based Metro Storage LLC manages over 6.1 million square feet of storage across 88 locations in 12 states and is among the largest private owners/operators/managers of self-storage in the United States.
Edward “Ted’ Notz, 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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ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $39 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.