MINNETONKA, MINN. — Associated Bank has provided a $55 million construction financing package for Marlowe Opus Station, a 269-unit development located at 10702 Red Circle Drive in Minnetonka, approximately 13 miles west of Minneapolis. Greystar is the developer of the project. Edward Notz of Associated Bank originated the loan.
Demolition is currently underway on the vacant office building on the site. A at Marlowe Opus Station will include a pool, courtyard, fitness room, clubroom, sauna, pet wash, work-from-home offices, bike storage, structured parking, electric vehicle charging stations and storage units. The project is slated for completion in fall 2026.
Marlowe Opus Station is located within Opus 2 Parkway, a 550-acre mixed-use development that offers a mix of office, industrial, commercial and residential space.
Greystar is a global real estate firm based in Charleston, South Carolina. The company is focused on property and investment management, development and construction services. Greystar manages and operates more than $320 billion worth of assets across 250 markets.
Associated Bank is a subsidiary of Associated Banc-Corp, a bank holding company based in Green Bay, Wisconsin. Associated Banc-Corp has $42 billion in assets.