Mr.'s Story

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ANDOVER: Leo T. Spang, a longterm resident of Andover, died on Saturday, August 23, 2014. He is survived by his two sons, Peter of Richland, Wash. and David of Andover. He was predeceased by Rachel, his loving wife of 55 years.

Leo was raised in Wakefield, and graduated from Tufts University in 1956, after which he joined the U.S. Navy. After four years of active military duty, he served part-time in the Naval Reserve as an Intelligence Officer. He ran several naval reserve intelligence units around the country until he retired from the Navy as a Commander in 1978.

After completing active military duty in 1960, he went to work for General Electric Credit Corporation (GECC). Shortly after joining them he established their new commercial lending office in Boston. As GECC expanded, Leo managed their regional lending offices around the country. In 1970, GECC decided to further expand into commercial real estate lending and Leo was given the responsibility for overseeing loans in the eastern part of the country.

In 1975, Leo became a senior lending officer at Connecticut Bank and Trust, which at that time was Connecticut’s largest bank. Leo later continued his career in Boston, where he managed real estate lending at the Provident Institution for Savings and at Shawmut Bank. In 1992, he formed New England Real Estate Advisors, an investment and advisory company where he remained until his retirement.

Leo was one of the founders of the Real Estate Finance Association in Boston. He held various leadership positions in that organization including being one of its early Presidents.

Leo enjoyed being an avid runner and tennis player in his youth. In his later years he could be seen on his daily walk through the Indian Ridge neighborhood. He was also a dog lover who owned German Shepherds throughout his life.

Funeral services were privately held. Arrangements were entrusted to the Burke-Magliozzi Funeral Home of Andover. Memorial contributions may be made in Leo’s memory to the Merrimack Valley Hospice House, 360 North Ave., Haverhill, MA 01830.
Published on  September 11, 2014
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