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News release

Washington

Jones Lang LaSalle Bolsters Multifamily Investment Sales Bench with Addition of Market-Leading Duo in Washington, D.C.

Al Cissel and Scott Melnick join Capital Markets practice as Managing Directors


WASHINGTON, D.C., MAR. 30, 2010— As part of the firm’s ongoing commitment to build a leading Capital Markets business and expand the firm’s multifamily service capability in critical markets across the country, Jones Lang LaSalle announced today it has hired two proven market leaders to lead its Mid-Atlantic multifamily investment sales business.  Al Cissel and Scott Melnick have joined the firm as Managing Directors, operating from the firm’s Maryland office.
 
Cissel and Melnick join Jones Lang LaSalle from Transwestern and will leverage their combined 50+ years of multifamily experience to help aggressively grow the firm’s multifamily capital markets presence throughout the Mid-Atlantic region.  In the last five years, the duo has sold in excess of $5 billion of multifamily product.  The Greater Washington Commercial Association of Realtors has recognized both men as the top-producing multifamily brokers in the Washington, D.C. metro region consistently from 2004 to 2009.  Nationally, both Melnick and Cissel have been ranked as “Top Broker” by Real Estate Forum and “Hot Broker” by Commercial Property News in 2009.
 
The duo will partner with Jubeen Vaghefi, Managing Director and leader of the firm’s national multifamily investment sales practice, Jay Koster, Americas Capital Markets President, Mike Ellis, Mid-Atlantic Market Director, along with the Mid-Atlantic Capital Markets and Real Estate Investment Banking teams to continue to expand Jones Lang LaSalle’s multifamily client service capabilities nationally, and to bolster the firm’s position as a full Capital Markets operation in the Mid-Atlantic region.
 
“The addition of Al and Scott to our multifamily platform is a critical step in our aggressive multifamily business plan.  The two are widely recognized as the leading multifamily brokers in the Mid-Atlantic region and we plan to leverage their experience and knowledge to the fullest advantage for clients along the Eastern seaboard and across the country,” said Vaghefi.
 
“For the past several months, we have indicated our desire to build a market leading Americas Capital Markets business.  This is a key strategic multifamily move for us, in arguably the most important multifamily investment market in the country.  This builds quickly on top of our recent Real Estate Investment Banking leadership addition of Tom Fish, Mike Melody and Tom Melody, who possess substantial multifamily finance experience nationally.  Combined with recent multifamily investment sales hires in Seattle, Houston and Dallas, we are on target to quickly finalize the development of our national multifamily investment sales and investment banking platform,” said Koster.
 
Both Melnick and Cissel are board members of the National Multi Housing Council.  Melnick earned his masters in finance from New York University and his bachelor of arts in Economics from Ithaca College.  Cissel studied Business and Finance at the University of Maryland.
 
“Our alignment with our client needs is our number one priority, and to achieve this priority we are committed to building a market-leading global commercial real estate business,” said Michael Ellis, Mid-Atlantic Market Director for Jones Lang LaSalle.  “This move aligns with our clients’ local, national and global demands and delivers against our strategy of selective growth into market sectors that serve our client base. The Washington, D.C. region is considered one of the best performing markets in the entire country due to its barriers to entry and continued office job growth, despite the recession.  We are certain the addition of Scott and Al to our Mid-Atlantic office will cement our status as the true leader of the commercial real estate industry here in the Mid-Atlantic.”
 
About Jones Lang LaSalle Capital Markets
Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. Our in-depth local market and global investor knowledge delivers the best-in-class solutions for our clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In the last three years, Jones Lang LaSalle Capital Markets completed more than $143 billion transactions globally. Our Capital Markets team comprises approximately 1,500 specialists, operating in 180 major markets worldwide.
 
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $40 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.