Savills Reportedly Buying Eastdil Secured For $1.2B
A massive brokerage acquisition appears to be underway.
London-based Savills has reached an agreement to absorb Eastdil Secured for $1.2B, Green Street News reports.
The deal is expected to be announced Thursday when Savills’ quarterly earnings results are disclosed. Eastdil Secured will keep its name and remain "culturally independent," according to Green Street, which reported that Savills would pay 60% of the purchase price in cash and the remainder in shares.
Savills and Eastdil didn't immediately respond to Bisnow's requests for comment.
Eastdil last traded hands in 2019 when Wells Fargo & Co. offloaded a majority share to Guggenheim Investments, on behalf of Guggenheim's clients, and Singapore-based investment company Temasek. Wells Fargo remained a minority owner.
The move comes just months after Savills welcomed a new top executive. Simon Shaw came in as CEO on Jan. 1, succeeding Mark Ridley, who retired at the end of 2025.
Based in New York City, Eastdil was founded in 1967. The firm is headed by Roy March, who is also a board member of The Real Estate Roundtable. March started at Eastdil as an intern in 1978, just a decade after its founding.
In addition to its traditional brokerage business, Eastdil does M&A and corporate advisory, as well as joint venture formation and structuring and capital raises. The firm is advising an investor consortium led by Affinius Capital in its planned $3.4B acquisition of Jersey City-based REIT Veris Residential.
Savills, founded in 1855, made its move to the U.S. just over a decade ago. In 2014, it acquired tenant representation firm Studley and its 25 U.S. office locations. It became known as Savills Studley for several years before rebranding to Savills in 2019.
In 2020, Savills acquired project management firm Macro Consultants, and in 2021, it absorbed advisory and consultation firm T3 Advisors, which specializes in life sciences and technology.
Just last week, Savills acquired Ireland-based The Building Consultancy, expanding its presence in that region after buying a Northern Ireland-based commercial property advisory firm last year.
