Industrial N Illinois

Associated Bank loans $25M for Illinois warehouse, distribution centers

Loans for more than $25M have been arranged by Associated Bank for the acquisition and construction of two Illinois warehouse and distribution centers.

Loans for more than $25M have been arranged by Associated Bank for the acquisition and construction of two Illinois warehouse and distribution centers.

The first loan of $13.6M to DPIF IL 3 University Park was for the acquisition of a 455,870-square-foot warehouse at 425 University Crossing Drive in University Park by Dermody Properties.

The second loan is $11.69M for Paulina South, a joint venture between Wanxiang America Real Estate Group and Clarius Partners, to build a 156,000-square-foot warehouse and distribution center for Vega Properties at 2420 S. Wood St. in Chicago.

Vice President Edward Notz of Associated Bank managed the loan and closing.