Roy March’s Eastdil Secured has agreed to sell itself for $1.2 billion in a deal that will realign the highest levels of commercial real estate brokerage.
Eastdil is selling to Savills, sources told The Real Deal.
Green Street News first reported the agreement.
Representatives for Eastdil and Savills could not be immediately reached for comment.
Guggenheim and Temasek financed a management-led buyout of Eastdil in 2019 in a deal that valued the company at $400 million.
In February of last year, Eastdil hired BDT & MSD Partners to advise the company on a potential sale.
Savills has been expanding in the United States but doesn’t have a strong investment sales footprint. In Eastdil Secured, it will acquire one of the top-performing I-sales businesses in the country.
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