Associated Bank Provides $67.5M Construction Loan for Rental Townhome Property in Minnesota

by Kristin Harlow

MAPLE GROVE, MINN. — Associated Bank has provided a $67.5 million loan for the construction of Summerwell Maple Grove. The project will consist of 220 luxury rental townhomes in the Minneapolis suburb of Maple Grove. The two-story units will range in size from 1,187 to 1,996 square feet. Amenities will include a clubhouse, fitness center, yoga room, business center, outdoor pool, dog walk, playground, putting green and walking trails. The borrower, Greystar, plans to begin construction shortly. Completion is slated for this time next year. Edward Notz of Associated Bank handled the loan arrangements and closing. Loan terms were not provided.

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