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LONDON (Alliance News) - FTSE 250-listed real estate advisory firm Savills PLC said on Thursday it has proposed to acquire a 25% stake in European real estate debt funds advisor DRC Capital LLP.
The acquisition will be made through Savills Investment Management, along with a call option provided by DRC Capital to acquire the remaining 75% on the third anniversary of the completed transaction.
The acquisition is expected to close in the third quarter of 2018 subject to regulatory approvals, resulting in DRC Chief Executive Dale Lattanzio joining the board of Savills Investment Management.
"DRC is a high-quality investment advisory firm and this transaction represents an exciting opportunity to add real estate debt products to our portfolio of capabilities. This will enhance our service to clients of the group seeking income focused investment opportunities in European real estate," said Nick Cooper, chairman of Savills Investment Management.
