"As we have worked to remain a top performer in the real estate industry, wehave created opportunities for individuals to advance as we progress," says Ric Clark, president & CEO of Brookfield Properties Corp, in a statement. "These management changes will position us to continue to grow our company and enhance shareholder value."

In the US, Dennis Friedrich, executive VP and COO of Brookfield's US commercial operations, has been named president of US commercial operations, effective June 30. Friedrich will continue to oversee 27 million sf of office space and development properties in New York, Boston, Denver and Minneapolis. David Sternberg, formerly of RREEF, was recently hired as senior VP responsible for running the Midwest and Mountain regions. He will be based in Minneapolis.

In Canada, David Arthur, president and CEO of Brookfield's Canadian commercialoperations, is leaving Brookfield to join Brascan Corp. in its otherreal estate activities. "Since joining Brookfield in 1992, David has overseenthe creation of Canada's best assemblage of office properties and has helpedcreate great value for our shareholders," notes Clark. We are most grateful for hiscontributions over the past decade."