Savills Plc has agreed to acquire global real estate investment bank Eastdil Secured for an enterprise value of about $1.11 billion (£827 million), in a move aimed at strengthening the property adviser’s capital markets and investment banking capabilities.
The London-listed real estate advisory group said the transaction will be funded through a combination of debt and newly issued shares representing roughly 16% of Savills’ enlarged share capital, to be issued to Eastdil Secured’s existing equity holders.
The deal is expected to close in the second or third quarter of 2026, subject to regulatory approvals.
Savills will pay $552.75 million in cash at completion and issue 27.7 million new ordinary shares, valued at about $368.5 million, to Eastdil Secured’s owners.
The acquisition significantly expands Savills’ presence in real estate investment banking (REIB) and strengthens its position in North American capital markets, where Eastdil Secured has built a dominant advisory franchise.
Eastdil Secured generated $633 million in revenue and $113 million in underlying EBITDA in 2025, reflecting an EBITDA margin of about 18%, according to Savills.
Savills said the deal will create a broader global advisory platform by combining its property services network with Eastdil Secured’s real estate investment banking expertise.
The combined group is expected to become the world’s second-largest adviser on commercial real estate transactions exceeding $100 million, and the top adviser in the United States, based on historical rankings cited by the companies.
Eastdil Secured, which employs around 650 staff across 20 offices worldwide, specialises in advising investors on mergers and acquisitions, joint ventures, structured financing, debt placement and large property transactions.
Since 2011 the firm has advised on more than 9,800 transactions worth roughly $3 trillion, primarily in North America.
The business generated 76% of its revenue from North America and 24% from Europe, the Middle East and Africa in 2025, Savills said.
Savills said the acquisition will increase the share of transactional revenue within the enlarged group to about 48%, compared with 38% on a standalone basis, while improving overall profitability through higher-margin advisory services.
The company expects the transaction to deliver at least £60 million in additional annual revenue and £15 million in EBITDA over the medium term through cross-selling and expanded client coverage.
The combined group’s pro-forma revenue for 2025 would be about £3 billion, with 53% generated in EMEA, 24% in Asia-Pacific and 23% in North America.
Savills said the deal is expected to be earnings-accretive, with underlying earnings per share forecast to rise by low-to-mid-teen percentages by 2027 before synergies.
As part of the transaction, Eastdil Secured announced leadership changes aimed at supporting future growth.
Chief Executive Roy H. March will become Executive Chairman, while current President D. Michael Van Konynenburg will assume the role of Chief Executive Officer.
James McCaffrey, head of Europe, will become President, continuing to lead the firm’s international expansion from London.
Van Konynenburg and McCaffrey will also join the Savills Group Executive Board and oversee the combined group’s investment banking operations, which will operate under the name Eastdil Secured Savills.
The business will retain joint headquarters in New York, Santa Monica and London.
Savills said structural trends are expected to support growth in Eastdil Secured’s core markets, including large volumes of maturing commercial real estate debt, capital needs in digital infrastructure, and the approaching end of investment periods for many global property funds.
Simon Shaw, Savills’ group chief executive, said the acquisition would significantly strengthen the firm’s advisory platform.
“Eastdil Secured is an organisation we have worked with and admired for many years. This acquisition is a significant step forward for both of us, bringing to the global investment community a comprehensive suite of investment banking, strategic and property advisory solutions,” Shaw said.
Roy March said joining Savills would accelerate Eastdil Secured’s expansion and broaden the resources available to clients.
“This transaction marks the beginning of a new chapter for Eastdil Secured and will significantly enhance our ability to provide best-in-class real estate investment banking services globally,” he said.
Savills said the enlarged group expects net debt to EBITDA to fall to around one times by the end of 2027, supported by strong cash generation from the combined business.
