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NEW YORK CITY-Fisher Brothers said Tuesday that it is taking a 15.5% stake in locally-based Modern Bank, a move intended to boost the boutique bank’s ability to make and manage targeted real estate investments. A source familiar with the deal tells GlobeSt.com that Fisher’s equity investment stake in the bank is approximately $15 million, but adds “the anticipated loan volume via the new platform, would be far, far more, of course.”

In a release, Fisher partner Winston Fisher calls the investment “a natural extension of our existing business strategy. By combining our expertise as a vertically-integrated real estate investment company with Modern Bank’s existing lending platform, we believe we will be able to make a significant impact right away in the markets we have targeted.”

Founded in 2006, Modern Bank and its sister organization, Modern Asset Management, cater to a clientele of high net worth individuals. Calling the partnership with Fisher “a further deliberate step in the measured growth and expansion of Modern Bank,” CEO Jeffrey Lane says in a release that it embodies the bank’s philosophy of providing high, long-term returns for its investors while identifying “innovative and cutting edge” business opportunities that enhance these returns.

Fisher was founded in 1915, and maintains a platform that spans investment and operations. The company operates a core portfolio of six million square feet of office space in New York City and Washington, DC.

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