Finance  ·  Players

Brookfield’s Head of CRE Debt Andrea Balkan Exiting Firm at End of 2024

Bill Powell will assume Balkan’s duties overseeing the firm's commercial real estate credit platform.

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Brookfield Asset Management‘s lending arm will soon be losing one of its pioneers. 

Andrea Balkan, a managing partner and a founding member of Brookfield’s commercial real estate credit business, is leaving the firm at the end of 2024 after 22 years, the company confirmed Monday. 

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PERE Credit and With Intelligence first reported news of Balkan’s planned exit.

Balkan, an industry vet and longstanding fixture on Commercial Observer’s annual Power Finance 50 list along with colleagues Nailah Flake and John Lee, has not yet revealed her next move.

She currently oversees the firm’s CRE credit platform and will be succeeded by Bill Powell, managing partner and chief operating officer of the company’s real estate group. Powell also joined Brookfield in 2002 and co-founded the firm’s debt business alongside Balkan.

“Andrea served as head of our real estate debt strategy for nearly two decades and we are grateful for her contributions to our business, including developing a deep bench and a thoughtful succession plan,” a Brookfield spokesperson said in a statement. 

Under Balkan’s leadership, Brookfield wrapped its sixth flagship closed-ended debt fund in December 2021 with $4 billion of investor commitments. Brookfield is now in the process of raising its fifth opportunistic real estate fund with more than $8 billion achieved as of the end of the first quarter, according to the company’s latest earnings report.

Andrew Coen can be reached at acoen@commercialobserver.com