Spencer Savings Bank has closed on a loan for a 31-unit apartment building in Union County
By Joshua Burd
The owner of a 31-unit apartment building in Union County has secured financing, in a newly completed transaction by Spencer Savings Bank.
The lender, which is based in Elmwood Park, is providing an undisclosed amount to the borrower. Spencer announced the deal last week in a post on its LinkedIn page, although it did not provide the exact address of the property.
“The loan for this (31,300-square-foot) modern apartment complex was closed efficiently by our staff during the height of the pandemic,” the bank wrote. “We continue to remain committed to fulfilling the needs of our community and real estate industry.”
