Calabasas-based real estate brokerage Marcus & Millichap Inc. has hired David Shillington as the new president of its finance subsidiary, Marcus & Millichap Capital Corp.

“I am pleased to welcome Dave as the president of MMCC,” said Marcus & Millichap Chief Executive Hessam Nadji in a statement. “Dave’s 30-plus years of experience and diverse background in commercial real estate finance are well-aligned with our vision for MMCC and its growth plan. Based on Dave’s history, we have great confidence in his abilities to take MMCC to the next level.”

Prior to joining the brokerage, Shillington served as an executive vice president with KeyBank Real Estate Capital, where he held multiple positions, including regional manager for the Southeast and Mid-Atlantic and managing director of the agency lending division. Shillington also served as managing director at Bank of America Securities and at First Union National Bank, where he was instrumental in building lending platforms covering all property types.

“MMCC has growth opportunities in virtually every market segment and property type, and I look forward to working with our team to realize this great potential,” said Shillington, who assumes the position previously held by William Hughes. Earlier this year, Hughes announced his plan to retire after 22 years with the company.

Shares of Marcus & Millichap (MMI) fell 25 cents, or a fraction of a percent, to close Friday at $38.11 on the New York Stock Exchange.