Mountain Funding has promoted Arthur Nevid to be its chief investment and spearhead the national real estate investment company's plans to acquire $1 billion of distressed real estate debt portfolios over the next two to three years.

He also will serve as managing director of the Charlotte, N.C., company's special servicing affiliate, which currently manages $1 billion in mortgage debt on 90 commercial properties.

Since 1997, Nevid has served as Mountain's managing director of lending and investment.

Prior to joining Mountain Funding, Nevid was the U.S. executive managing director of a French-owned development company based in New York City, and a real estate investment banker and asset manager at Merrill Lynch Hubbard.

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