Dennis Friedrich, CEO of Brookfield Property Partners’ global office division, plans to step down next week.
Behind the story:
The executive, who oversaw the firm’s 115 million-square-foot international office portfolio, saw his future role at the firm diminishing in the face of its rising complexity and interconnectivity, sources told the New York Post.
“It was amicable,” a source told the paper. “He has a strong relationship with Global Office Division Chairman Ric Clark. There were no skeletons.”
He’ll leave his post on Jan. 15, the Post reported.
Friedrich was promoted in 2012 from a position as the COO of Brookfield Office’s U.S. division. The firm was later absorbed by its parents, Brookfield Property Partners, itself a subsidiary of Toronto-based Brookfield Asset Management.
He oversaw the creation of the the more than 7 million-square-foot mixed-use complex in the Financial District known as Brookfield Place. He also oversaw preparations for Manhattan West, a 5.4 million-square-foot mixed use development planned for Hudson Yards. [NYP, second item] – Ariel Stulberg