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Wintrust’s Strategic Leap to Minneapolis: Navigating New Horizons in Commercial Banking
Wintrust’s Strategic Leap to Minneapolis: Navigating New Horizons in Commercial Banking
Minneapolis, MN – February 2024 – Wintrust is embarking on an exciting journey with continued expansion into Minneapolis through Wintrust Commercial Banking – Minneapolis. The Twin Cities, driven by a thriving job market, population growth, and robust real estate development, make it a logical next step for Wintrust’s continued success and a natural progression to broaden its market reach.
Wintrust Commercial Banking – Minneapolis is backed by Wintrust who regionally supports more than 50,000 businesses in more than 170 locations. The Commercial Real Estate team, led by John Johannes, Executive Vice President and Wisconsin/Minnesota Commercial Real Estate Market Head, will leverage its substantial expertise to seamlessly integrate and support the Minneapolis community.
Jay Mack, Wintrust Regional Market Head stated, “In the competitive landscape of commercial banking, building robust partnerships with our clients is paramount. Wintrust’s success hinges on being a trusted advisor to our clients based on the close relationships we build with them. There is no ‘one-size fits all’ solution for every real estate developer or investor. We provide tailored solutions to address the unique challenges and opportunities of each client.”
A focal point of Wintrust’s approach is commercial construction lending, presenting a unique opportunity to contribute specialized expertise to the Minneapolis community. Johannes added, “Wintrust has a long history of cultivating strong relationships with regional developers and it is uniquely positioned to understand and address the comprehensive financing needs of diverse projects.” Other specific services include commercial lending, treasury management, international banking, capital markets, syndications, asset-based lending, equipment loans and leasing, and more professional practices.
While Wintrust has had decades of experience in the Chicago community since its inception, it has also made strides in Wisconsin over the past 25 years through its community partnerships and commitment to commercial banking services and deep financial resources for real estate investors and developers. With a commercial real estate team boasting over 40 years of commercial real estate lending experience, Johannes emphasized Wintrust’s tailored approach to each project. The institution’s entrepreneurial model, backed by a formidable financial institution worth more than $56 billion, empowers its bankers to work closely with clients with a hands-on and responsive approach to support the unique needs of each project.
Looking ahead, Wintrust envisions playing a pivotal role in the Minneapolis commercial real estate market with a focus on financing multi-family construction, and industrial projects, along with a commitment to low-income housing tax credit (LIHTC) financing to expand the city’s development. Establishing and nurturing partnerships with local organizations and engaging in community efforts will be integral to Wintrust’s footprint in Minneapolis.
Johannes continued, “This natural step into the Twin Cities aligns with our vision to be a trusted partner in commercial real estate like we are in Chicago and Milwaukee. Our commitment to partnerships and community development will help us make an impactful move into the region.”
Already in 2024, the team closed on its first multi-family construction project in Maple Grove, Minnesota with Norsq Companies and Enclave. This $35.5 million partnership becomes a part of the long legacy Wintrust has with multi-family real estate development in the Midwest and one that will certainly impact the general Minneapolis region.
Wintrust’s expansion into Minneapolis is not merely a geographic move but a strategic step toward contributing its specialized skills to a growing market. The move promises exciting opportunities for real estate development in 2024. The institution’s commitment to fostering growth and community engagement positions it as a valuable partner to the dynamic landscape of Minneapolis real estate development. Wintrust is committed to growth, as it leverages its expertise to navigate and establish a sustained presence in the Twin Cities.
To discuss partnering with Wintrust Commercial Banking in Minnesota, contact John Johannes at jjohannes@wintrust.com, Jay Mack at jmack@wintrust.com, or visit www.wintrust.com/mn.
Banking products provided by Wintrust Financial Corp. banks.