PwC has tapped Byron Carlock, an 11-year veteran of CNL Financial Group, as principal and real estate practice leader for the US, in a newly created position. Carlock is based in PwC's Dallas office and reports to Barry Benjamin, who heads the firm’s US and global asset management practice.
As many institutional investors have increased their allocation to alternatives, which include real estate, “we wanted to make sure we’re well organized to handle structuring and investment of inbound capital from our foreign clients, as well as our domestic fund clients who have chosen to increase their portfolio position in the space,” Carlock told PERE.
Kees Hage, a partner based in Luxembourg and the firm's global real estate leader, already has been overseeing the European market for PwC’s real estate practice, while the firm has yet to fill the position for real estate practice leader in Asia.
Prior to joining PwC, Carlock worked at CNL Financial Group, an Orlando-based investment management firm. There, he most recently served as president and chief executive of CNL Lifestyle Properties, a non-listed real estate investment trust that owns assets such as ski resorts and golf properties and that began expanding into senior housing communities in 2011.
Before CNL, Carlock worked as chief investment officer and executive vice president of Post Properties, a publicly-traded apartment REIT, and helped to expand its portfolio of urban infill properties nationwide. Prior to that, he was managing director of capital markets for Crow Holdings International, where he led the firm’s debt, equity and recapitalisation activities and sat on its investment committee.