Associated Bank has successfully secured a $55 million financing package for Graystar, to fund the construction of a 269-unit apartment building located at 10702 Red Circle Drive in Minnetonka, Minnesota. As the lead arranger and administrative agent, Associated Bank played a crucial role in facilitating this deal.
The loan was originated by Edward (Ted) Notz, who is a senior vice president with Associated Bank’s Commercial Real Estate Division. The project, known as Marlowe Opus Station, will offer top-of-the-line amenities such as in-unit Wi-Fi connectivity and modern appliances like stainless steel kitchen appliances. Other features include quartz countertops in the kitchen area and luxury vinyl plank flooring throughout each unit. Additionally, residents will have access to common amenities including a pool area for relaxation and recreation purposes; an outdoor courtyard; fitness room; clubroom for social gatherings; sauna facilities; pet wash station for convenience when caring for furry friends; private work-from-home offices ideal for remote workers or students studying from home ; bike storage options ; structured parking spaces ; EV charging stations ,and storage units.
Currently underway is demolition of an existing vacant office building on site . Occupancy of Marlowe Opus Station is expected by fall of 2026 . This development project falls within the larger Opus 2 Parkway which spans over550 acres , encompassing various typesof properties ranging from office buildings to industrial complexes , commercial establishments,and residential developments.
