Croft Young, a senior investment banker, will join Dallas-based CBRE Group as chief investment officer in July, the company announced.
The real estate services and investment company said that its global Corporate Development and Strategy teams will report to Young.
CBRE said it has enhanced its market position over the last several years through a combination of organic growth and mergers and acquisitions (M&A). With $4.8 billion of liquidity at year-end 2022, CBRE is positioned to make further strategic gains in M&A under Young’s leadership, the company said.
“We are excited that Croft has decided to join CBRE,” Bob Sulentic, CBRE’s president and chief executive officer, said in a statement. “He has an exceptional M&A track record in the real estate sector and couples this with strong strategic and leadership skills.”
Young is coming to CBRE from Morgan Stanley, where he is a managing director in the Real Estate Investment Banking Group.
Over the past 14 years, Young has been integrally involved in $175 billion of strategic and capital transactions, including M&A such as the sale of Industrial Properties Trust to Prologis and the sale of Fairmont Raffles Hotels International to Accor SA, CBRE said. His clients include public and private real estate investors, operators, service providers, and investment managers.
“It feels fantastic to be joining an industry leader recognized for its innovation and deeply committed to excellence and growth,” Young said in a statement. “I look forward to working with my new colleagues to leverage CBRE’s many strengths across its diversified global platform to create value for all our stakeholders.”
CBRE said that Young will join its global Executive Committee and will report directly to Sulentic.
CBRE Group Inc. is a Fortune 500 and S&P 500 company. It is the world’s largest commercial real estate services and investment firm (based on 2022 revenue).
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