Savills announced it has signed a definitive agreement to acquire all of the equity of Eastdil Secured, a global real estate investment bank, for an enterprise value of $1.1125 billion. The transaction is expected to close upon satisfaction of customary regulatory and closing conditions.
The deal significantly expands Savills’ presence in capital markets advisory by integrating Eastdil Secured’s investment banking capabilities with Savills’ global real estate advisory platform. Eastdil Secured will continue to operate its existing business model within the Savills Group and will serve as the company’s real estate investment bank.
Founded in 1967 by Benjamin V. Lambert in New York, Eastdil pioneered an investment banking approach to real estate advisory. The company expanded its global reach over time and became a trusted advisor across multiple property types and transaction structures. Wells Fargo acquired Eastdil Realty in 1999, and in 2006, the firm merged with Secured Capital Corp., the real estate investment banking firm co-founded in 1990 by D. Michael Van Konynenburg and former Drexel Burnham Lambert executives, to form Eastdil Secured. In 2019, CEO Roy H. March and the firm’s management team led a recapitalization in partnership with Guggenheim, Temasek, and Wells Fargo.
Eastdil Secured operates across major global financial centers, including New York, Santa Monica, and London, and maintains 20 offices worldwide. The firm provides advisory services across mergers and acquisitions, joint ventures, sales, debt placement, structured credit, and loan sales for investors across the global commercial real estate market.
Savills said the acquisition will position the combined group as the second-largest advisory firm globally for prime commercial real estate transactions exceeding $100 million. The integration also expands Savills’ footprint in the United States while providing Eastdil with a platform for further growth in Asia-Pacific.
Under the leadership changes announced alongside the transaction, Roy H. March will become executive chairman of Eastdil Secured, focusing on client advisory, execution, and long-term strategy. D. Michael Van Konynenburg, currently president, will become chief executive officer and oversee day-to-day operations. James McCaffrey will become president and will lead international growth initiatives from London. Van Konynenburg and McCaffrey will also join the Savills Group Executive Board.
Savills said the combination brings together one of the leading international real estate advisory firms with one of the world’s top real estate investment banks, expanding the firm’s ability to provide advisory, transactional, consulting and management services across the full lifecycle of real estate ownership.
KEY QUOTES
“Eastdil Secured is an organisation we have worked with and admired for many years. It has a complementary geographical footprint and similar culture to our own. This acquisition is a significant step forward for both of us, bringing to the global investment community a much-needed choice of leading advisory partner to deliver a comprehensive suite of investment banking, strategic, financial, development, leasing and other ‘boots on the ground’ property solutions. By acquiring a leading REIB provider, the improved breadth of our services and enhanced global footprint will create significant growth opportunities for the combined Group’s staff and significant value to our clients and shareholders alike.”
Simon Shaw
Group Chief Executive, Savills plc
“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. This transaction marks the beginning of a new chapter for Eastdil Secured, which will accelerate our growth, create opportunities for our team, and significantly enhance our ability to provide best-in-class real estate investment banking services for our valued clients globally. As part of Savills, Eastdil Secured will continue to serve as a trusted advisor and provide clients with unmatched capital markets and commercial real estate expertise, now with more resources as part of a larger organization with complementary geographic reach and advisory capabilities. The Savills team shares our commitment to excellence and our emphasis on discretion, collaboration, and insight-driven execution. We look forward to continuing to grow and deliver for our partners as part of this industry-leading global platform.”
Roy H. March
Executive Chairman, Eastdil Secured
