Associated Bank has closed $67.534 million in financing for Greystar to build Summerwell Maple Grove. The community of two-story townhomes will be located at 15400 105th Avenue North in Maple Grove, Minnesota.
The property is now unimproved agricultural land.
Summerwell Maple Grove will consist of 220 two-story luxury rental townhomes ranging in size from 1,187 to 1,996 square feet. Units will be available in two-, three- and four-bedroom configurations, all with a dedicated two-car garage.
Amenities will include a clubhouse with fitness center, yoga room, business center, clubroom with kitchen, outdoor pool and grilling station, dog park, walking trails, children’s playground and putting green.
Construction is expected to be complete by late summer of 2022.
Edward Notz, a senior vice president with Associated Bank’s commercial real estate division, handled the loan arrangements and closing.
