Transaction strengthens capabilities in capital markets advisory through the acquisition of a leader in real estate investment banking
Savills plc, one of the world’s leading real estate advisory firms, is pleased to announce it has signed a definitive agreement to acquire all the equity of Eastdil Secured, The Global Real Estate Investment Bank, for an enterprise value of $1,112.5 million. The acquisition is scheduled to be completed in due course following satisfaction of customary regulatory and closing conditions.
Eastdil Secured’s market-leading real estate investment banking business is highly complementary to Savills broader real estate services in North America and across the globe. Savills North America is an integrated real estate advisory platform with broad geographic coverage across the U.S. and Canada and deep sector expertise in office, industrial, corporate services, life science and retail. The platform delivers strategic guidance and execution for clients ranging from high-growth companies to global enterprises via local expertise and global reach. The combined group will be the number two advisory firm globally for prime commercial real estate transactions above $100 million.
In connection with the transaction, Eastdil Secured today announced the following planned executive leadership appointments to position the business for continued growth as part of Savills, effective immediately:
- Roy H. March, currently Chief Executive Officer, has been appointed Executive Chairman of Eastdil Secured, where he will continue to be responsible for client advisory, execution and long-term strategy.
- D. Michael Van Konynenburg, currently President, has been appointed Chief Executive Officer of Eastdil Secured, where he will continue to oversee the day-to-day operations of the business.
- James McCaffrey, currently Managing Director and Head of Europe, has been appointed President of Eastdil Secured; he will work closely with Mr. March and Mr. Van Konynenburg and continue to spearhead Eastdil Secured’s international growth efforts from London.
- Mr. Van Konynenburg and Mr. McCaffrey will both join the Savills Group Executive Board.
“We have worked with and respected Eastdil Secured for many years, and there is a strong complementary geographic and cultural alignment,” said Simon Shaw, Group Chief Executive of Savills. “This acquisition creates a compelling new partner of choice for the global investment community, pairing Eastdil Secured’s real estate investment banking Globally with Savills broader advisory and on-the-ground capabilities will drive growth and deliver value for clients, our people and shareholders.”
“Throughout its history, Eastdil Secured has developed strategic partnerships to better serve our clients and be the most relevant and trusted advisor in the real estate investment banking industry,” said Roy March, Executive Chairman of Eastdil Secured. “This transaction marks the beginning of a new chapter for Eastdil Secured, which will accelerate our growth, creating new opportunities for our team and strengthening what we can deliver for clients globally. As part of Savills, we’ll continue to serve as a trusted advisor, now with greater resources and complementary geographic reach, while maintaining our shared focus on discretion, collaboration and disciplined execution.”
“Across North America, Savills has built a differentiated platform grounded in sector expertise, local market leadership and a deeply collaborative, client-first culture,” said David Lipson, Chief Executive Officer, Savills North America. “Adding Eastdil Secured’s premier capital markets capability to the platform expands what we can deliver for current and future clients by bringing together real estate investment banking and advisory expertise across asset classes, sectors, markets and service lines.”
Following the completion of the transaction, Eastdil Secured will continue to operate its existing business model within Savills Group, as the Group’s Real Estate Investment Bank, and will maintain key headquarters in New York, Santa Monica and London.
The acquisition of Eastdil Secured is one of the largest deals in Savills history. It brings together one of the leading international real estate advisors with The Global Real Estate Investment Bank.
- Global Capital Markets Powerhouse: A leader in real estate capital markets (equity, debt and investment banking) globally.
- Geographical Coverage: Significant expansion in the US puts Savills at the forefront of the largest real estate capital market in the world and provides a platform for growth in APAC for Eastdil Secured.
- Servicing the Full Life Cycle: Broadened service capability enables the combined business to provide clients with advisory, transactional, consulting and management services across the full life cycle of real estate ownership.
- Enhanced Growth Opportunities: Complementary nature of the businesses, with limited overlap of geography, clients and capability, substantially improves Savills and Eastdil Secured’s abilities to service clients and creates a platform for future growth to the benefit of clients, staff and shareholders alike.
- Cultural Compatibility: A relentlessly client-focused and performance-driven culture shared by both businesses.
About Savills
For over 160 years, Savills has been helping people thrive through places and spaces.
Listed on the London Stock Exchange, we have more than 40,000 professionals collaborating across over 70 countries, delivering unrivalled coverage and expertise to the world of commercial and prime residential real estate.
By applying world research data and trends to local and global settings, we’re able to empower our clients with insights from the forefront of the industry – bringing their aspirations to life through innovative, tailor-made solutions.
Whether we are working with a global corporate looking to expand, an investor seeking to sustainably optimise their portfolio, or a family trying to find a new home, we help our clients make better property decisions.
About Eastdil Secured
As the most relevant and trusted advisor in the commercial real estate capital markets, Eastdil Secured creates value for clients through creative, actionable ideas and flawless execution. With an unrivaled combination of capital markets expertise and in-depth understanding of real estate fundamentals, Eastdil Secured delivers best-in-class advice on mergers and acquisitions, continuation vehicles, joint ventures, sales, debt placement, structured credit and loan sales to investors around the world. Eastdil Secured is jointly led out of New York, Santa Monica and London and has a broad global footprint to support clients with a total of 20 offices, including across the United States in Atlanta, Boston, Charlotte, Chicago, Dallas, Miami, Orange County, San Francisco, Seattle, Silicon Valley and Washington, D.C., and internationally in Dubai, Dublin, Frankfurt, Milan, Paris and Hong Kong.
For further information, please contact:
Savills
Victoria Buchanan, Savills press office Tel: +44 (0) 7870 999653
Brandon Levesque, Savills North America Tel: +1 718-938-3423
Eastdil Secured
Jonathan Keehner / Erik Carlson / Alexander Wolfsohn
Joele Frank, Wilkinson Brimmer Katcher Tel: +1 212.355.4449
