Savills has completed its acquisition of US commercial real estate services firm Studley Inc in a deal valued US$260 million (S$326.7 million).
The combined business will be re-branded as Savills Studley.
Jeremy Helsby, CEO of Savills Plc, said: “This deal brings the top US tenant representation brokerage brand into the Savills Group and complements our existing leading positions in the European and Asian markets.”
Meanwhile, Chris Marriott, CEO of Savills South East Asia, noted that commercial leasing and tenant representation is one of Savills’ most important business lines in the Asia Pacific region.
In fact, US tenants make up a big part of its market, as reflected by the number of recent new lettings in Singapore with the likes of LinkedIn, Google and Ebay, he said.
“With US corporate occupiers continuing to play a major role in the Asian marketplace, this deal opens up a significant client base for the firm here locally.”
Studley’s clients include News International, Google, Facebook, Amazon, IBM, and Abbott Laboratories.
Marriott added it is a great opportunity for the leasing teams in Singapore to tap into a host of new clients, with whom Savills Studley have long standing relationships.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
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