Michael Klibaner is leaving his position as director, head of Asia Pacific research, at BlackRock Real Estate, PERE has learned.
According to two sources familiar with the matter, Klibaner will go on gardening leave next month. PERE could not confirm his next move.
Klibaner joined the New York-headquartered asset manager's Hong Kong office in March 2015 to assume the leadership role. He has been responsible for leading the real estate function across Asia Pacific, and supporting fundraising, asset management, and acquisition and disposal activities, as stated on BlackRock’s website.
Previously, Klibaner was a long-serving executive at the property services firm JLL, where he held several China-focused roles, most recently as the regional director and head of research for greater China.
BlackRock did not respond to multiple requests from PERE on the reasons for Klibaner’s departure.
The firm is currently understood to be in the process of finalising a buyer for its second Singapore officer tower. Asia Square Tower 1 was sold to the Middle Eastern sovereign wealth fund Qatar Investment Authority for S$3.4 billion ($2.4 billion; €2.2 billion) in June last year, one of the biggest single-asset transactions in the region. According to a Bloomberg report last November, the 46-story Asia Square Tower 2, which includes grade A office space and a Westin Hotel, could sell for around S$2 billion.