Nick Crockett, the executive director of CBRE’s Capital Advisors team in Asia-Pacific is set to leave the company at the end of the month, PERE can reveal.
The decision to part ways is understood to have been by mutual consent, according to two sources familiar with the situation, who added that Crockett is leaving to pursue other opportunities but he has not officially joined any other organization at this point of time.
CBRE has confirmed the news of the departure. Crockett declined to comment.
In a shift in strategy for the global real estate advisory firm, CBRE will not be filling up the Singapore-based leadership role. According to one source, CBRE’s capital markets business has become more localized, with the firm operating separate capital advisory teams in different markets within the region including Hong Kong, Japan and China, and as such the business is moving away from being centrally managed from Singapore.
A CBRE spokesperson told PERE that it will remain business as usual for the firm but declined to provide more details.
Crockett joined CBRE in 2013 to create the group’s first dedicated capital advisory function. As the head of the capital advisory team, he was responsible for providing investment and financial structuring advice for major real estate transactions across the region.
Crockett, who was previously the head of the Asia-Pacific corporate finance team at the rival firm Jones Lang LaSalle (JLL), resigned from his position in late 2012. Just a few months later in March, he and some other senior directors at JLL moved to CBRE.
Before joining JLL in 2008, Crockett worked with the capital transaction team of Allco in Singapore and Grant Samuel in Australia.
With over 14 years of industry experience, Crockett has advised on more than $3.5 billion worth of property equity and debt transactions in Asia in the past three years.