February 26, 2014
Urban Partnership Bank, which has $1 billion in assets, reached anagreement with Monroe Investment Partners LLC (MIP) to acquire its South Shore financial center and its nearby motor bank and parking lot for an undisclosed amount. The bank will close those facilities on Saturday, March 22, 2014 to allow MIP to proceed with plans to create a new retail center and bring much needed services and amenities to the neighborhood. MIP recently developed the 83rd Street Market in
Chatham.
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Urban Partnership Bank Sells Its South Shore Branch and Will Close in March
Urban Partnership Bank (UPB) is selling its South Shore banking center at 7054 S. Jeffrey and will close March 22 to make way for much needed retail development in the area as it shifts from a bricks and mortar to an online and mobile application strategy.