Dan Heberle, a banking executive with more than 30 years of industry experience, has been promoted to president of KeyBank Real Estate Capital in Cleveland.
He succeeds Angela Mago who has led the business since 2014 and was recently appointed to KeyCorp’s Chief Human Resources Officer. Heberle reports to Randy Paine, President of Key Institutional Bank.
As President of KeyBank Real Estate Capital, Heberle is responsible for Key’s real estate finance and community development and investment businesses. He leads a team of more than 900 professionals providing advice and capital solutions including acquisition, construction, and interim financing, revolving credit facilities and term loans, permanent mortgages, tax credit equity, commercial real estate loan servicing, and cash management services for virtually all types of income producing commercial and residential real estate.
KeyBank Real Estate Capital is also the nation’s third largest and highly rated commercial mortgage servicer, with a servicing portfolio of nearly $650 billion (master/primary and special) at the end of 2022. KeyBank Community Development Lending and Investment and Key Community Development Corporation is also one of the top five providers of debt and equity financing for affordable housing as well as community and economic development revitalization capital in our retail banking markets. KeyBank Real Estate Capital Markets provides off balance sheet capital, including Agency lending (Fannie Mae, Freddie Mac and FHA), Commercial Mortgage-Backed Securities (CMBS) and Life Company products. KeyBank’s Income Property Group and Institutional Capital Group provides advisory and capital solutions to large and small real estate owners.
Previously, Heberle served as head of KeyBank’s Institutional Capital Group. In that role, he was responsible for managing a $15 billion institutional real estate portfolio and leading 60 institutional real estate capital professionals nationally. He joined KeyBank in 1998 as a relationship manager with KeyBank’s REIT Group and was responsible for the bank’s REIT clients and prospects and has since held various leadership responsibilities across KeyBank Real Estate Capital.
