NEW YORK CITY-Brookfield Office Properties, owner of the World Financial Center and developer of Manhattan West, is making several promotions and personnel changes from within. Ric Clark will become chairman of the board of the corporation, passing the CEO torch to Dennis Friedrich, effective July 1.
Mark Brown will assume Fredrich’s role as global chief investment officer, where he will be responsible for the company’s international growth strategy and overseeing acquisition and financing activities throughout the company’s operating and target markets. Previously, Brown served as senior vice president of strategic initiatives & finance in 2005 after two years at Brookfield Asset Management. In addition, Tom Farley will become sole president of BOP and continue his role as global COO.
The changes are consistent with the recent announcement by Brookfield Asset Management of its intention to publicly list its real estate business as Brookfield Property Partners Inc. Clark will become CEO of the entity, relinquishing his role as CEO of BOP.
The company also reported FFO of $154 million for Q1 2012, $12 million higher than the $142 million reported during the same period in 2011.
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