Brookfield Properties has initiated layoffs within its office division as part of a broader restructuring process. The company, known for having one of the largest commercial real estate portfolios in the U.S., is shifting from a focus on long-term office investments to a model more aligned with Wall Street fund management. This transition includes a reorganization of management structures to emphasize national over regional leadership, aimed at adapting to varied investment strategies that require more frequent asset changes and capital recycling.
The evolution of our business - from one largely comprised of forever-hold, balance sheet assets to a mix that also includes properties held in fund strategies with varied hold periods and return goals - has led us to examine our organizational structure.
Brookfield was once well known for its focus on commercial real estate, particularly office buildings, such as Brookfield Place, a large commercial complex it owns in Lower Manhattan. It now controls investments across categories like insurance, credit, infrastructure, and real estate.
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