CHICAGO – July 10, 2013 – Associated Bank recently announced the closing of more than $20 million in commercial real estate loans to Chicago developers.
- DRW Holdings, LLC – $15,000,000 to refinance three retail properties located at 1900 N. Clybourn, 1627 N. Damen and 1727 N. Damen in Chicago, with existing tenants that include Arhaus Furniture, Lululemon, Lush, Intermix, and Club Monaco. DRW Holdings was founded in 1992 by Donald R. Wilson, Jr. as a proprietary trading firm specializing in market-making. DRW created the DRW Real Estate Group in 2009 and since then has invested in over 35 properties in Chicago, Aspen, Florida, South Carolina and Arizona. The group is led by David Nelson and under his leadership has deployed over $200 million in equity capital. Vice President, Krista Casper, from the Commercial Real Estate division of Associated Bank in Chicago, managed the loan closing.
- Value Industrial Partners – $1,912,500 for the acquisition of a fully leased 51,000 square foot industrial building at 1101-1133 N. Ellsworth Avenue in Villa Park, Ill. Value Industrial Partners, LLC, is a full-service real estate operator providing acquisition, development, brokerage and asset management services for industrial real estate throughout metropolitan Chicago. Senior Vice President, Craig Przygoda, Commercial Real Estate division of Associated Bank in Chicago, managed the loan closing.
- InSite Real Estate – $3,720,000 for the construction of a 16,068-square-foot build-to-suit pre-school facility for The Gardner School, located at 2390 Waterview Drive in Glenview, Ill. Based in suburban Chicago, InSite develops, owns and operates tenant-driven investment property nationwide. Privately held since its1988 formation, they have completed over 400 industrial, office and retail projects in over 30 states, ranging from 2,000 square feet to 2.6 million square feet in size, and $1 million to $250 million in value. Vice President, Krista Casper, from the Commercial Real Estate division of Associated Bank in Chicago, managed the loan closing.
“It’s rewarding to be able to support the many exciting projects that Chicago-area developers have underway,” said Greg Warsek, senior vice president and senior regional manager for the Chicago market at Associated Bank. “We look forward to providing creative financing solutions for projects that support continued economic growth in the greater Chicago area.”
Headquartered in Chicago, Associated Bank’s Commercial Real Estate division is committed to providing its clientele of developers/owners/operators of commercial real estate with financing solutions and an array of products and services that meet the unique demands of their business. The Commercial Real Estate division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio and Wisconsin.
