Associated Bank and MB Financial Bank closed a $44 million construction loan for HRB Louisville, LLC for student housing near the University of Louisville.
Associated Bank arranged the financing and will act as administrative agent. MB Financial Bank, acting as the co-agent bank in the transaction, was allocated half of the commitment, with Associated retaining the other half.
The project is a 271-unit 758-bed student-housing facility located immediately east of the University of Louisville on Crittendon Drive and Warnock Streets. HRB demolished more than 20 empty structures on the property. The company recently began construction of the student housing.
Senior vice president Edward Notz from the commercial real estate division of Associated Bank in Chicago originated and managed the loan closing.
