Savills to buy Eastdil Secured for $1.2B

INTERNATIONAL REPORT — Global brokerage firm Savills will acquire private real estate investment bank Eastdil Secured for £900 million ($1.2 billion) in a deal first reported by Green Street News.

The acquisition is expected to be announced with Savills’ quarterly earnings report on Thursday.

Eastdil owners Guggenheim Investments and Temasek Holdings are selling to the brokerage, which would dramatically expand Savills’ footprint in advisory services, capital markets and other services.

London-based Savills has been expanding recently in the U.S. across different asset classes. In November, the firm launched its U.S. Retail Advisory Services platform, led by Todd Siegel. Savills’ purchase also follows recent leadership changes at the firm, with Simon Shaw succeeding Mark Ridley as CEO at the beginning of the year.

This is the second ownership change for Eastdil in less than a decade. In 2019, the firm was taken private after Wells Fargo sold its majority stake to Temasek Holdings and institutional clients advised by Guggenheim Investments. That deal was valued at $400 million.