Savills has completed the largest acquisition in its 171-year history, taking control of US-headquartered real estate investment bank Eastdil Secured in a deal valued at $1.1bn (£827m), including debt.
The transaction significantly expands Savills’ presence in North America and strengthens its ability to advise major institutional investors on property sales, mergers and acquisitions, debt placement, loan sales and structured finance.
Eastdil generated revenue of $633m and underlying earnings of $113m during 2025. It employs approximately 650 people across 20 international offices, with North America accounting for 76% of its revenue.
The combined business is expected to become the world’s second-largest adviser on commercial property transactions worth more than $100m. Savills’ exposure to North America will also increase substantially, with the region expected to account for approximately 23% of combined group revenue.
GLOBAL CAPITAL MARKETS EXPANSION
Savills first announced the proposed acquisition on 12 March. The deal carries an enterprise value of $1.1125bn, comprising consideration of $921.25m and Eastdil debt of $191.25m.
It is funded through borrowing and the issue of 27,658,792 new Savills shares, representing approximately 16% of the enlarged company. Eastdil’s existing investors include Guggenheim Investments, Temasek and Wells Fargo, alongside partner employees.
Around 85 senior Eastdil employees will collectively hold approximately 6.3% of the enlarged Savills group, aligning key staff with the future performance of the combined business.
Eastdil will retain its established brand, collaborative operating model and non-commission-based remuneration structure. Its leadership includes executive chairman Roy March, chief executive D. Michael Van Konynenburg and president James McCaffrey.
£60M REVENUE OPPORTUNITY
Savills expects the acquisition to increase underlying earnings per share by a low-to-mid-teens percentage in 2027.
The group is targeting at least £60m of additional annual revenue over the medium term by referring clients between Eastdil’s investment-banking operation and Savills’ wider leasing, consultancy and property-management businesses.
The newly issued shares are expected to begin trading in London on 4 August. Savills will provide a further update on the acquisition alongside its half-year results on 13 August.
