Associated Bank has successfully secured a $145,175,000 financing package for the construction of a three-story Class A office and laboratory building in Maple Grove, Minnesota. The project is being developed by Ryan Companies and is expected to be completed in late 2025.
The loan arrangements and closing were handled by Steve Clifford, Senior Vice President of Associated Bank’s Commercial Real Estate Division. The syndicated deal involved four lenders with Associated Bank holding $50 million of the total financing package. Other participants include First National Bank of Omaha, Alerus Financial, and Johnson Bank.
Situated on a 38-acre parcel just outside Minneapolis/St. Paul area, the new build-to-suit facility will span over 400,000 square feet with approximately 320
