The Parking Spot to build near-airport parking facility in Salt Lake City with Associated Bank loan
CHICAGO – October 17, 2018 – Associated Bank announces the completion of a construction loan to an affiliate of Green Courte Partners, LLC and The Parking Spot. The company is constructing 3,144 covered and uncovered parking spaces at 2255 West North Temple Street, Salt Lake City, near the entrance to Salt Lake City International Airport (SLC). The new parking facility will offer convenient and affordable short- and long-term parking for business and leisure customers traveling from the Salt Lake City / Provo / Ogden, Utah region and is expected to be open for business around the end of the year.
Since 1998, Chicago-based The Parking Spot has been a leading national provider of near-airport parking, with 39 properties and over 73,000 parking spaces located near 22 major U.S. airports in 15 states. The Parking Spot is owned by an affiliate of Green Courte Partners, a real estate private equity fund manager that actively invests in niche real estate asset classes, with an emphasis on near-airport parking, active adult/independent senior living and land-lease communities across the U.S.
Senior Vice President Edward (Ted) Notz of the Commercial Real Estate division of Associated Bank managed the loan and closing.
Headquartered in Chicago, 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. Associated’s Commercial Real Estate division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Texas and Wisconsin.
ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $34 billion and is one of the top 50 publicly traded U.S. bank holding companies. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from over 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.