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Ric Clark teams up with Tod Waterman

Brookfield veteran Ric Clark is teaming up with Tod Waterman to form a new real estate investment and operating company known as WatermanClark, Bloomberg News reported. The New York-based venture will make new bets on commercial real estate and become the employer of all Waterman staff as of Jan. 1.

  • Worth Noting: Clark, 62, is the chairman of Brookfield Property Partners LP and Brookfield Property REIT.
  • Heard on the Street: Tod Waterman: “Ric and I have collaborated on real estate investments and civic projects for more than three decades and we are thrilled that timing and circumstances have come together to allow for this partnership to happen… Despite the challenges presented by the pandemic, Ric and I have already identified emerging opportunities to deploy our resources.” [Bloomberg]

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