"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."

Steve Douglas, who will remain as CFO, is being named president of Canadian commercial operations also effective June 30. Tom Farley, currently senior VP, Western Canada, will become executive VP and COO, responsible for Canadian operations.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.