Savills is acquiring Eastdil Secured for $921.25 million in a deal designed to expand its investment banking capabilities and US market presence with minimal overlap. The London-based real estate adviser's CEO Simon Shaw told PERE the acquisition represents a strategic fit that will allow Savills to offer a more comprehensive suite of services globally.

Eastdil specializes in capital markets, from M&A advisory to equity sales and joint venture capital raising, with debt advisory operations across Europe and the US. While Eastdil maintains a global presence, 76 percent of its revenue comes from North America, complementing Savills' brokerage-focused model. The firms share little redundancy in geographies, services, or client bases.

The transaction includes $552.75 million in cash plus 27.7 million new Savills shares valued at $368.50 million, creating an enterprise value of $1.1 billion. Eastdil will operate as Eastdil Secured Savills, maintaining its brand while expanding Savills' ability to cross-pollinate lenders across different regions and property types from data centers to multifamily. The deal comes amid recent mergers in real estate investment management, including Nuveen-Schroders and Ares Management's acquisition of GLP Capital Partners.