Multifamily X Missouri

Associated Bank closes $8 million of financing for redevelopment of four Missouri apartment buildings

Associated Bank recently completed $8.04 million in financing to Draper Kramer, Incorporated/MV Two, LLC, for the redevelopment of four buildings in the former Manhasset Village Apartment complex at 1351 McCutcheon Avenue in Richmond Heights, Missouri.

Associated Bank recently completed $8.04 million in financing to Draper Kramer, Incorporated/MV Two, LLC, for the redevelopment of four buildings in the former Manhasset Village Apartment complex at 1351 McCutcheon Avenue in Richmond Heights, Missouri.

The project, the second phase of redevelopment at the community, will update a total of 46 apartments that will include a mix of one-, two- and three-bedroom floor plans ranging in size from 762 to 1,465 square feet.

Draper and Kramer is a privately held full-service real estate firm based in Chicago.

Senior vice president Edward (Ted) Notz of Associated Bank managed the loan and closing.