Associated Bank finances newest United Properties 55+ active adult rental community

MINNEAPOLIS - September 30, 2025 - Financing by Associated Bank made possible the recently opened Amira Lake Elmo, an independent living community located at 8695 Eagle Point Boulevard in Lake Elmo, Minnesota. The $33,000,000 loan to United Properties was for development of this new 55+ active-adult rental community.

Located near Woodbury, Minnesota, Amira Lake Elmo offers an array of options in their newest 55+ active-adult rental community that range from alcove studios to three-bedroom layouts, all featuring premium finishes and a wide array of lifestyle amenities. United Properties has been developing and investing in Amira senior communities since 2004, with more than two dozen best-in-class developments across Minnesota, Colorado and Florida.

United Properties has been a commercial real estate owner, investor and developer since the company was established in Minneapolis in 1916. The company provides market expertise for ground-up development, redevelopment, and acquisitions of value-add and stabilized investments including office, industrial, retail, mixed-use and senior-living properties. Headquartered in Minneapolis with offices in Denver and Austin, Texas, United Properties is owned by the Pohlad Companies.

John Rent, a senior vice president with Associated Bank's Commercial Real Estate division, handled the loan arrangements and closing. This is the fourth United Properties-developed Amira community the bank has financed, having also closed on financing for the Amira Bloomington and Amira Minnetonka communities within the last year.

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 $44 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 nearly 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois, Minnesota and Missouri. 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 www.associatedbank.com