Transwestern's Bethesda, MD-based Institutional Multifamily Group's managing principals, Al Cissel and Scott Melnick, represented the seller in the transaction. They declined to confirm the sales price, but tell GlobeSt.com that, in general, they have been closing a large number of multifamily transactions in the region. "There is definitely life in this market," Melnick tells GlobeSt.com.
 Melnick |
This sale is likely the largest Transwestern's multifamily group has closed in the past 60 days--but it is hardly the only one. According to the duo, the group has closed more than $800 million over the last two months.
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 Cissel |
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
