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Deals & Dealmakers

Zuckerman steps down as Boston Properties chair

Mort Zuckerman is leaving his role as chairman of Boston Properties.

According to a Securities and Exchange Commission filing from last Friday, the co-founder of the REIT will not be petitioning for re-election during an annual board meeting this month.

The 78-year-old real estate mogul started Boston Properties with the late Ed Linde in 1970 and helped grow it into the the biggest office real estate investment trust in the US.

Boston properties  holdings include the General Motors Building and former Citigroup Center in New York, Boston’s Prudential Center and John Hancock Tower, and the Capital Gallery in Washington. The company has 46.5 million rentable square feet of office space across 168 properties.

Zuckerman leverages his real estate success to build a media empire that includes the New Yokr Daily News and U.S. News and World Report.

While Zuckerman will be stepping back in an official capacity, he will still be granted access to board meetings under the mantle of chairman emeritus.

The subtraction of Zuckerman and fellow board member, Ivan Seidenberg — who is also stepping aside — has created two openings amongst the ranks.

Karen Dykstra and Bruce Duncan have been nominated to fill those vacancies.

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