Real Estate
Home›Real Estate›Industry›Savills completes Eastdil Secured acquisition valued a…
Savills completes Eastdil Secured acquisition valued at $1.11 billion
The deal completes a March announcement and creates a combined advisory firm ranked No. 2 globally for prime CRE transactions above $100 million.
Savills Plc has completed its acquisition of Eastdil Secured LLC, valuing the transaction at US$1.1125 billion, or about £827 million, according to ConnectCRE.
Following closing, Eastdil Secured will be rebranded as Eastdil Secured Savills immediately, and it will continue operating within Savills Group as the group’s real estate investment bank.
ConnectCRE also said the combined platform will become the No. 2 advisory firm globally for prime commercial real estate transactions above $100 million.
The leadership includes Roy H. March as executive chairman, D. Michael Van Konynenburg as CEO, and James McCaffrey as president, with Van Konynenburg and McCaffrey joining the Savills Group Executive Board, while key Eastdil Secured headquarters remain in New York, Santa Monica, and London.