JLL’s Peter Nicoletti is jumping to Colliers International, after the firm’s top investment-sales threesome retired this spring.
The 30-year industry veteran will assume the role of managing director and head of New York City Capital Markets at Colliers, which has been looking to bolster presence in the five boroughs. In his new role, Nicoletti will lead an investment sales team and oversee debt and equity placement.
During a 13-year stint at JLL, Nicoletti helped build out the firm’s sales, investment and mortgage business lines and has led $36.5 billion in sales and financing, according to Colliers.
“Pete Nicoletti is one of the most accomplished and forward-thinking professionals in the business,” said David Amsterdam, Colliers’ capital markets and Northeast region president, noting that the new addition would help “further establish Colliers in the region and across the country.”
Nicoletti’s start at JLL coincided with the Great Recession, as he worked on a team focusing on the emerging CMBS and special-servicer issues. He later transitioned to JLL’s New York-based capital markets team and then established a team focusing on institutional-grade clients with global portfolios.
In 2016 he negotiated the $2.2 billion sale of the Swedish pension fund Alecta’s 47-property portfolio in the U.S. and U.K. He also helped arrange $1.1 billion in acquisition financing for Blackstone, which closed in 2017 on the purchase of $1.6 billion of Alecta’s U.S. holdings.
Nicoletti also oversaw Blackstone’s $640 million sale of Five Bryant Park to Savanna along with financing to close the transaction.
Nicoletti has also completed other billion-dollar portfolio sales and financings for clients that included TA Realty, Atlas and Hines U.S. REIT.
This is the second time in the past year that Colliers has tapped JLL’s bench. It recently hired Boston-based managing director Frank Petz, who had been JLL’s head of New England capital markets. The company also recently acquired a controlling interest in investment bank Dougherty Financial Group.
Over his 30-year career in real estate, Nicoletti has worked at HFF (which later merged with JLL), Garibaldi Group, Rockwood Realty and MetLife Real Estate Investments.
In a statement he cited “a unique opportunity” to grow Collier’s capital markets platform.
“This team-first culture will allow us to execute at the highest level, expand our business lines and add talented individuals, creating a capital markets platform unlike any in the market today,” Nicoletti said.