IRVINE, CA-Larry K. Sullivan has been promoted to president of locally based commercial real estate investment company Passco Cos. LLC. The appointment follows the resignation of former president William H. Winn, which goes into effect May 30.

Sullivan has more than 30 years of experience directing real estate and syndication activities for institutional and private investors. He has served as CFO and COO of Passco for nearly 10 years and is now charged with attracting new institutional and private capital while expanding the company's portfolio of 10,000 multifamily units and approximately 5 million square feet of commercial properties nationwide.

William O. Passo, founder and CEO of the firm, said in a prepared statement, “I will be continuing my role as CEO in shaping and defining the overall direction of the company. We look forward to making 2013 Passco's most successful year yet, in our core business of finding, buying and operating quality real estate assets. Our track record of expertise and the economic recovery are favorable drivers of our ambitious plans to acquire further properties and serve more investors with increasing returns.”

As GlobeSt.com reported in October 2012, Passco hired Darryll Goodman, a 25-year real estate industry veteran, as VP to oversee a portfolio of existing properties in addition to providing new resources for the firm's growing investment, advisory and restructuring and recapitalization business.