CLEVELAND—KeyCorp has just selected Angela G. Mago to lead KeyBank Real Estate Capital and Community Development Lending. Mago will succeed E.J. Burke who last week became Community Bank co-president for commercial and private banking at Key. Mago will report to Christopher M. Gorman, president of Key Corporate Bank.
“Angela’s business acumen, proven leadership and track record for growing businesses make her uniquely qualified to lead KeyBank Real Estate Capital,” says Gorman. “She has the experience to drive our relationship-based business model and deliver the full breadth of Key to our clients and prospects.”
A 26-year veteran of Cleveland-based Key, since 2011 Mago has led the Real Estate Capital Markets team that has responsibility for originating, underwriting, and distributing permanent mortgage financing for Key’s clients through Fannie Mae, Freddie Mac, FHA, life companies and CMBS. Under Mago’s leadership, company officials say this national platform has produced record loan production in each of the last three years.
Last year, GlobeSt.com reported that KeyBank Real Estate Capital has struck a pair of deals that would substantially increase the size of its commercial mortgage servicing portfolio. The company arranged to buy Bank of America N.A.’s $110.5-billion CMBS servicing portfolio, along with a CMBS special servicing portfolio of about $14 billion. It also entered into a long-term agreement with Berkadia Commercial Mortgage LLC to buy up its CMBS special servicing business.
Previously, Mago served as the national manager for KeyBank Real Estate Capital’s healthcare group.