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Transwestern Institutional Multifamily Group's Cissel and Melnick

The market is alive, but not as many distressed assets are trading as originally thought.

By Sule Aygoren Carranza | Updated on October 06, 2009

There’s no question the investment sales market has been particularly stagnant over the past several months. Between the lack of financing in the market, the stalemate over pricing between buyers and sellers and the hype about the distressed market, transaction volume has been slow, at best.

Yet, in certain markets and product types, brokers are closing deals on an increasingly steady basis. Transwestern Institutional Multifamily Group in the Mid-Atlantic, led by managing principals Al Cissel and Scott Melnick, completed four transactions in the past week alone, and has more under contract. Cissel and Melnick say that buyers have become more comfortable with current conditions and, in many cases, are being lured off the sidelines with what they believe are fair deals.

The pair recently spoke with GlobeSt.com about the latest transaction activity, their view of the market and some encouraging reasons for optimism for the coming months. An edited version of that discussion follows.

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