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Brookfield's D.C.-Area Development Head Departs For Perseus TDC

Toby Millman speaks at Bisnow's Multifamily Annual Conference East on Oct. 20, 2016.

Toby Millman, who led development of The Yards and other D.C.-area projects for Brookfield, has left the Canadian real estate giant for a local firm.

Perseus TDC, the mid-Atlantic affiliate of Transwestern Development Co., has hired Millman as regional partner, it announced Monday. 

The affiliate was formed in 2017 through a partnership of Transwestern Development Co. and Perseus Realty, whose founder, Bob Cohen, has led Perseus TDC as CEO and president. The developer has multifamily and mixed-use projects at various stages of development in NoMa, Logan Circle, Hyattsville and Bethesda

As regional partner, Millman will lead the strategic direction of the firm's mid-Atlantic office and will be responsible for sourcing and executing new developments. 

“I am excited to join a firm known for delivering high-quality apartment communities and desirable mixed-use environments in the Mid-Atlantic and across the country,” Millman said in a release. “I look forward to joining the team and building on that momentum, enhancing Transwestern’s presence throughout the region.”  

Millman spent four years with Brookfield as senior vice president and regional head of development. He joined shortly after the firm's acquisition of Forest City Realty Trust and helped it integrate that firm's large D.C. portfolio and development pipeline into Brookfield's platform. 

During that time, Brookfield kicked off the 18-acre second phase of the Southeast D.C. megaproject The Yards with a new Chemonics-anchored office building and a 467-unit multifamily building. Brookfield also broke ground in 2019 on Halley Rise, a $1.4B mixed-use project in Reston anchored by a Wegmans grocery store. 

Prior to joining Brookfield, Millman spent two years with Ditto Residential and five years with Vornado/Charles E. Smith, leading its multifamily team before its merger/spinoff with The JBG Cos. He previously spent seven years with Abdo Development, six years with EYA, and he founded his own development firm, Agora Development, according to his LinkedIn page

“We are excited about the addition of such a seasoned executive to help us build on our existing pipeline and capitalize on unique opportunities in the market,” TDC President Carleton Riser said in a release. “The Washington metro area has been a primary focus for TDC’s long-term growth, and we are confident Toby’s deep knowledge and outstanding relationships will be invaluable as we continue to build on recent successes.”   

A Brookfield spokesperson told Bisnow that Rich Fernicola, a D.C.-based senior vice president with the firm, will replace Millman as its head of D.C.-area development.

“Brookfield extends its gratitude to Toby Millman for his exceptional contributions to the company and we wish him well in his new role," the Brookfield spokesperson said in a statement. 

UPDATE, APRIL 10, 1:30 P.M. ET: This story has been updated with a statement from Brookfield.