Associated Bank has announced the 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.