NY MF Lender Expands to DC/Baltimore

Independence Community Bank, a multifamily mortgage lender in the New York metropolitan market, is expanding its area of operation to the Baltimore-Washington market.The bank said it expects "to work closely" in this endeavor with Meridian Capital Group, an East Coast mortgage brokerage firm with a presence in the Baltimore-Washington region. Independence has an equity interest in Meridian, the bank said. Philip Jones Jr., a former director of multifamily capital markets with Fannie Mae, has joined the bank as a Maryland/D.C.-based senior vice president, Independence said. Most recently, Mr. Jones was a managing director for national real estate with National Cooperative Bank. "Working with Meridian, we look forward to bringing the same expertise that has made us a leader in New York to the dynamic Baltimore-Washington region," said Gary Honstedt, executive vice president for commercial real estate lending at Independence Bank.