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BIRMINGHAM, MI-As a signal of a generational handover, DietzHoldings and Dietz Management are merging into one company, DietzProperty Group. Founder and CEO Paul Dietz, 64, is stepping intomore of a consultant role, and his son and company president Brian,42, is expanding his leadership of the company.

The company owns and/or operates more than three million sf ofcommercial properties in Michigan, Ohio, Indiana, Kentucky andMissouri, with about half of its portfolio in multifamily. PaulDietz had led the Dietz Organization, which specialized inmultifamily, until he sold the business to Hendrickson Partners in2002. Both Paul and Brian led the separate acquisition andmanagement businesses, Brian tells GlobeSt.com. "My father and Iwere together as partners, but now we're rebooting the system.We're looking to unify under a common brand." The company ownsproperties such as the 408-unit Stonehaven in Hazelwood, MO; the472-unit Residences at Towne Center in Columbus and the 135,000-sfSterling Town Center office building in Sterling Heights, MI.