Associated Banc : Bank announces $12.2M financing for Chicago-area bus terminal and billboard site acquisitions
March 26, 2021 at 05:49 am EDT
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CHICAGO - Associated Bank announced completion of a $12,255,100 term loan for VK Industrial V, LP, an affiliate of Venture One Real Estate, for the acquisition of a Chicago-area logistics portfolio and billboard site. The portfolio includes four bus terminal sites and a separate billboard site. The properties are located in the Central DuPage and Fox Valley industrial submarkets of Chicago.
The four bus terminal sites, totaling 1,095,165 square feet, are located in Glen Ellyn, Westmont, Villa Park and Batavia. Each site averages 6 acres and, in aggregate, can accommodate over 667 trailers/buses, van storage and fleet maintenance/repair facilities. The sites have been fully leased for over two decades. The 12,849-square-foot billboard site is located in Franklin Park.
Venture One Real Estate is a real estate private equity fund manager, developer and operating company specializing in the industrial property sector. Headquartered in Chicago, Venture One manages a series of discretionary value-add investment funds that target opportunities throughout the greater Chicago and New Jersey regions.
Elizabeth Hozian, a senior vice president with Associated Bank's Commercial Real Estate, handled the loan arrangements and closing along with team members Paul Henning and Evelyn Turner.
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. The division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Texas and Wisconsin.
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ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $33 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 more than 220 banking locations serving more than 120 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
Associated Banc-Corp is a bank holding company. The Company, through Associated Bank and various nonbanking subsidiaries, provides a range of banking and nonbanking products and services to individuals and businesses. The Company is a banking franchise, offering a full range of financial products and services from more than 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment consists of lending and deposit solutions to larger businesses, developers, not-for-profits, municipalities, and financial institutions, and the support to deliver, fund, and manage such banking solutions. Its Community, Consumer, and Business segment consists of lending and deposit solutions to individuals and small to mid-sized businesses. Its Risk Management and Shared Services segment includes key shared corporate functions, parent company activity, intersegment eliminations, and residual revenues and expenses.
ASSOCIATED BANC-CORP 
