Toonen, Inc. Secures $32.75M Construction Loan From Associated Bank For Strata Apartments Project

The asset involved in this transaction is a development site located at 2101 North McCarthy Road and 2431 North McCarthy Road, Appleton, WI. This site is set to host the 236-unit Strata Apartments project, which spans over a 30-acre area near a growing retail corridor. The project has a construction loan amount of $32,750,000 with completion expected by February 2028.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $32,750,000
• Lender: Associated Bank
• Landlord: Toonen, Inc
• Loan Type: Construction
• Market: Appleton, WI
• Project Units: 236
• Completion Date: February 2028

This transaction was facilitated by Associated Bank, which provided the construction loan to Toonen, Inc. for the development of the Strata Apartments project. The transaction highlights Toonen, Inc.'s commitment to expanding residential options in the area through this significant development. The project aims to address increasing demand in the local housing market.