LOS ANGELES—Arden Realty, Inc. president/CEO Joaquin de Monet is leaving the company “by mutual agreement,” GlobeSt.com has learned. He will step down as of July 1 to “pursue other interests,” he says. Arden is a GE Capital Real Estate company.

“My departure reflects a mutual agreement, but it still is a bittersweet decision,” de Monet said in a widely circulated email. “In my 16 years with GE, I have been given the opportunity to lead many terrific, high performance teams and grow debt and equity platforms through some of the best and the most challenging economic conditions. These leadership experiences have certainly been a high-point of my career to date.”

In his email, de Monet noted that his “commitment to the mission of City of Hope is one aspect that is not changing. I remain an avid advocate of all the innumerable ways in which City of Hope improves and saves lives.” 

He indicated that he would support the “Spirit of Life” dinner this year “and other key initiatives with (Los Angeles Real Estate and Construction Industries Council) well into the future.”

de Monet did not immediately return messages seeking comment on his decision.

As reported earlier by GlobeSt.com, GE Capital Real Estate is a company in transition, shifting its focus from an equity player to a debt provider.