ALBANY, N.Y. – SEFCU has provided a $7.26 million loan package for the purchase and refurbishment of the Victorian-era Adelphi Hotel in the Saratoga Springs resort.
A portion of the SEFCU financing was used by Adelphi Hotel Partners LLC to purchase the hotel and $4.1 million is for improvements to the property.
The new owners plan to maintain the 39-room hotel's unique character while making strategic investments.
With the 10-year Treasury yield at levels not seen in 52 weeks, the 30-year fixed rate mortgage rose 15 basis points over last Thursday, Freddie Mac said.
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