METROPOLITAN WASHINGTON, DC-From retail to office property, the greater Washington, DC real estate market has remained strong despite the lagging economy, and Brooklyn, NY-based Independence Community Bank Corp. has decided to get its piece of the pie. Independence, one of the leading financers for the multi-family mortgage sector in the greater New York area, has broadened its horizons by opening a new office in Maryland to cover the Metropolitan Washington, DC region.

The company has made plans to work jointly with mortgage brokerage firm Meridian Capital Group LLC, which has already established its presence in the thriving regional market. “Our business model for multi-family mortgage lending has utilized conservative appraisal and underwriting standards and efficient loan processing procedures,” Independence executive vice president for commercial real estate lending Gary Honstedt explains. “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.