MINNEAPOLIS—WaterStone Bank has just opened a new commercial lending branch in Maple Grove, a suburb just northwest of Minneapolis. The new branch will handle all types of commercial real estate lending, bank officials say, and provide a variety of loan solutions. The Wisconsin-based bank has put Paul Muldoon and Peter Austin, two experienced commercial lenders, at the helm of their new branch.
“We are excited to be entering the Minnesota market, bringing our competitive products combined with the expertise of Paul and Peter,” says Doug Gordon, president and chief executive officer of WaterStone Bank. “WaterStone has a strong capital base to provide for consistent loan growth in the Twin Cities. Our ability to approve and close loans quickly will help real estate owners in their acquisition process.”
Muldoon has more than 25 years of experience working in multifamily lending, commercial investments and development. Previously, he worked for Johnson Capital, where he specialized in mortgage brokerage. He was also a senior loan specialist at Freddie Mac for 12 years, where he structured loans and managed production for the Upper Midwest region.
Austin also has more than 25 years of commercial real estate lending experience. Prior to joining WaterStone, he was a commercial mortgage banker with Towle Financial Services as well as a lender with TCF Bank and a founder, co-owner and manager of Welsh Capital, LLC, a commercial loan brokerage operation within Welsh Companies, a firm in the Minneapolis-St. Paul market.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
