Associated Bank closed a $10.5 million construction loan for WRP New Berlin II to build a 192,800-square-foot rentable warehouse/distribution center near the intersection of West Small and Moorland Roads in the Milwaukee suburb of New Berlin, Wisconsin.
Completion of the project is expected for the fall of 2021.
Westminster Realty Partners III LP is a private real estate equity fund managed by Lake Forest, Illinois-based Westminster Capital. Founded in 1988 by Rob Lansing, the firm has raised more than $900 million in capital across 15 private real estate equity funds. It has also invested in more than $3 billion of real estate projects.
Senior vice president Edward “Ted” Notz of the Commercial Real Estate division of Associated Bank managed the loan and closing.
