Patrick Arangio, 34, of CBRE’s Capital Markets’ National Loan Sale Advisory Group, has been promoted to vice chairman.
“The levels of achievement to attain the vice chairman title are extraordinary in tenure, financial achievement and adherence to company values,” said Christopher Ludeman, president, CBRE Capital Markets, in a statement. “In every measure, Patrick has met and exceeded the standards set by the firm.”
Mr. Arangio has participated in the advisory and placement of more than $18 billion in loan sales in his career. He is responsible for the sale and marketing of commercial mortgage loans on the secondary markets and has been the transaction manager or co-project manager on more than 150 large loan and portfolio assignments, including a range of loan sales and product types throughout North America, the firm said.
He has been involved in valuation, advisory and disposition of in excess of $16 billion of loan sales on the secondary market, secured by residential and commercial assets ranging in size from $100,000 to $150 million per credit in the United States and Canada.
Mr. Arangio told the Wall Street Journal that loan sales grew tremendously during the economic downturn, with banks, loan servicers and other real-estate debt holders selling between $25 and $30 billion worth of assets per year.
“It used to be that $15 billion in sales would be huge year,” he told the newspaper.
Mr. Arangio graduated from Cornell University with a bachelor’s degree in English and remains a member of the Cornell Real Estate Council. He lives in New York City with his wife Elizabeth and twin daughters.
In 2012, he was named one of The Mortgage Observer’s Top 20 Under 35.
Mr. Arangio was unavailable for additional comment.