LaSalle Taps Veteran Investor Peter Sibilia to Lead U.S. Deals

CHICAGO, IL – March 02, 2026 – LaSalle Investment Management, a global real estate investment manager with $86.4 billion in assets, has appointed veteran investor Peter Sibilia as its new Head of U.S. Transactions. The strategic hire, effective immediately, positions a seasoned dealmaker at the helm of the firm's American investment platform just as the commercial real estate market shows signs of a significant recovery.

Based in New York, Sibilia will report to Richard Kleinman, Chief Investment Officer for the Americas. He will be responsible for leading LaSalle's entire U.S. transactions apparatus, overseeing sourcing, underwriting, and the execution of new investments. He takes over the role from Pat Pelling, who has transitioned to Portfolio Manager for the firm's flagship U.S. open-end core fund, the LaSalle Property Fund, in a concurrent strategic leadership shuffle.

A Strategic Play for an Evolving Market

Sibilia’s appointment comes at a pivotal moment for the U.S. real estate market. After a period of stagnation marked by interest rate hikes and pricing uncertainty, industry forecasts for 2026 project a notable uptick in activity. With investment volumes expected to climb by 15-20% and greater clarity returning to valuations, firms are retooling their teams to capitalize on emerging opportunities. LaSalle's leadership views this hire as a direct response to that shifting landscape.

"Pete brings deep transactional experience and a disciplined approach to capital deployment across market cycles," said Richard Kleinman in a statement. "As market activity accelerates, his leadership will enhance our ability to source selectively, underwrite rigorously, and execute on opportunities that provide attractive value across our investment portfolios."

The market Sibilia now navigates is one of cautious optimism. Sectors like multifamily and industrial continue to show robust fundamentals, buoyed by demographic trends and reshoring initiatives. Even the challenged office sector is seeing a flight to quality, creating opportunities in prime assets. Sibilia's extensive background across various risk profiles—from core and value-add to complex opportunistic deals—equips him to identify value in this nuanced environment.

Brad Gries, who recently stepped into the role of Chief Executive Officer at LaSalle, emphasized the strategic importance of the hire for the firm's growth and client performance. "Pete is a highly accomplished investor and leader with a demonstrated ability to navigate complex investments and market environments," Gries stated. "As we expand our U.S. transactions capabilities, his experience will help drive disciplined growth and position LaSalle to deliver strong investment performance for our clients."

The Ten-Billion-Dollar Track Record

Sibilia joins LaSalle with an impressive 25-year career and a track record of executing high-stakes transactions at some of the industry's most respected firms. His credentials underscore the caliber of talent LaSalle sought to secure for this critical role.

Most notably, Sibilia spent over 15 years at J.P. Morgan Asset Management, where he rose to Managing Director and co-head of the Northeast region. During his tenure, he was instrumental in executing more than $10 billion in transactions, giving him firsthand experience deploying capital at scale across the full spectrum of real estate strategies.

His career path also demonstrates a deep understanding of evolving asset classes. Most recently, he served as Managing Director at Rithm Capital and CEO of its single-family rental platform, Adoor Residential. This experience in the burgeoning institutional single-family rental sector is particularly relevant as alternative property types gain prominence in investor portfolios. Prior to that, he was a Partner and Head of Investments at GreenBarn Investment Group, where he focused on complex and special situation investments, honing skills that are invaluable during periods of market dislocation and recovery.

Sibilia himself acknowledged the unique demands of the current climate. "In today's environment, successful transactions require insight, relationships and disciplined execution," he said. "LaSalle brings all three, and I look forward to building on that foundation as we continue to grow our U.S. transactions capabilities in order to continue enhancing investment performance."

Reshaping the Leadership Ranks

Sibilia's arrival is part of a broader, deliberate evolution of LaSalle's leadership structure. The move is not a simple replacement but a strategic realignment designed to strengthen the firm on multiple fronts. The transition of Pat Pelling, a nearly two-decade veteran of the company, from Head of U.S. Transactions to Portfolio Manager of the LaSalle Property Fund (LPF) is a key component of this strategy.

By placing an experienced transaction leader like Pelling at the head of its flagship core fund, LaSalle reinforces the connection between investment strategy and portfolio management. This internal mobility demonstrates a commitment to cultivating talent and ensuring deep institutional knowledge is leveraged across the organization's most important platforms. This follows the recent elevation of Brad Gries, Pelling's predecessor as Head of Transactions, to the firm's global CEO role in February 2026, signaling a clear path for advancement within the company.

This thoughtful approach to talent management stands out in a competitive landscape where senior executives frequently depart to launch their own ventures. By creating compelling internal opportunities, LaSalle aims to retain its top talent while simultaneously infusing the organization with new expertise from the outside. Sibilia's recruitment is a testament to the firm's ability to attract top-tier leaders who can drive its next phase of growth. The move solidifies the leadership team under Gries and Kleinman, creating a powerful combination of long-standing internal leaders and high-impact external hires to navigate the opportunities ahead.