KANSAS CITY, Mo. November 16, 2016 – Associated Bank recently provided debt financing and an equity investment for the historic renovation of two adjoining vacant office buildings located at 911 and 915 Broadway in the Historic Garment District of Kansas City, Mo.


Previously known as the McCarren Millinery and the Hershberger & Rosenthal buildings, the renovation will create 44 apartments with modern conveniences and amenities featuring condominium-quality finishes. Yarco Development  / 915 Broadway LLC, will maintain the historic brick façade and windows of the original buildings, which are listed on the National Register of Historic Places by the National Park Service. The new residential units are slated for completion in the summer of 2017.   


Associated Bank is providing both debt and equity solutions for the project: a $4,675,000 construction and mini-perm loan and an equity investment $1,600,754. Senior Vice President Nancy Pozo of the Commercial Real Estate division of Associated Bank managed the loan and closing, and Senior Vice President Michael McGovern arranged the equity investment through Associated Community Development, the bank’s community development arm.


Founded in 1923, Yarco Development is a Kansas City-based professional real estate firm specializing in multi-family housing. Over the past 50 years the company has developed more than 8,000 apartment homes valued in excess of $550 million in more than 70 communities. Today the company manages more than 11,000 apartment homes for over 38,000 residents across 11 states.


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. Associated’s Commercial Real Estate division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio and Wisconsin.



Associated Banc-Corp (NYSE: ASB) has total assets of $29 billion and is one of the top 50 publicly traded U.S. bank holding companies. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from over 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, 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

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