Associated Bank announces $17.7M loan for townhome community acquisition in suburban Des Moines, Iowa

CHICAGO - June 22, 2026 - Associated Bank announced completion of a $17,700,000 term loan to Tricap Investments for the phased acquisition of the Townhomes at Magnolia Heights, located at 5641 155th Street in Urbandale, Iowa, a suburb of Des Moines, Iowa.

The 105 two-Edit Anchorstory townhome rental units are adjacent to the 240 for-sale, single-family and townhome community of Magnolia Heights. Magnolia Heights is located in the Waukee School District and convenient to parks, trails and a variety of dining and recreational options.

Tricap Investments focuses on the acquisition of low-density multifamily housing in suburban, school-district-driven markets. Investments are aligned with long-duration household demand, and risk and return are clearly defined to support stable, durable cash flow for investors.

Elizabeth Hozian, a senior vice president with Associated Bank's Commercial Real Estate division in Chicago, managed the loan arrangements and closing.

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.

ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NYSE: ASB) has total assets of approximately $50 billion and is the largest bank holding company based in Wisconsin. 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 throughout Wisconsin, Illinois, Iowa, Minnesota, Missouri and Nebraska. The Company also operates loan production offices in Indiana, Kansas, Michigan, New York, 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 https://www.associatedbank.com.