WASHINGTON, DC-CBRE has promoted Maury E. Zanoff and Joseph W. Donato Jr., to vice chairmen, the company's highest designation for sales professionals. The move is a promotion based on the transactions Zanoff and Donato have closed, Zanoff tells GlobeSt.com. "It is not related to a specific initiative or new push."

In 2012, Donato and Zanoff's team arranged $2.3 billion in 52 financings, including the $700 million equity advisory for the CityCenterDC development and the $212 million debt placement for Metro Park in Alexandria, VA. This year will be active as well, Zanoff says.

CBRE is strong in the agency lender space, while life and conduits are becoming more competitive in the multifamily space. "Banks are getting more aggressive as well," he says. The refinance market will be particularly active, they predict. Said Donato: "We expect refinance activity to be up in 2013 as $40 billion of fixed rate conduit mortgages mature in 2013 and over $50 billion in 2014."

At the same time interest rates at historic lows.The ten-year Treasury is trading at around 2%, over 200 basis points below 2003 levels when the majority of maturing CMBS loans were issued, he tells GlobeSt.com. "The combination of ultra low interest rates, a wave of maturing conduit paper and banks at all time highs in terms of liquidity and reserves creates a healthy market for refinancing in 2013," Donato says.