The merger, effective immediately, will create an organization that provides solutions in transaction management, capital markets and project management to commercial enterprises in Canada.
The founder of Real Facilities, Stan Krawitz, has been appointed executive vice
president, founder and head of Canada for Savillis Studley. He will be tasked with expanding the organization’s reach into new markets domestically.
Real Facilities was strategically targeted due to its foothold in Ontario’s financial capital.
“It was important that Savills Studley create a strategic presence in Toronto, the fourth-largest commercial real estate market in North America. We are very excited by the opportunities this acquisition presents for our clients as many multinational firms have targeted the Greater Toronto Area for growth,” Michael Colacino, president, Savillis Studley, said in a statement.
Krawitz remains optimistic about the purchase, contending that it allows Real Facilities to obtain a “global platform” for its business partners.
Many Canadian companies are expanding to the U.S., as well as seeking locations in Europe and Asia,” he said. “Savills Studley and Real Facilities have collaborated on numerous large
transactions for clients on both sides of the border for more than five years. In many ways, this is
just the formalization of the great partnership we’ve enjoyed; the transition has been seamless.”
Savillis Studley, a commercial real estate services company that specializes in commercial tenant representation, has acquired Real Facilities, a Toronto-based firm offering similar services. Terms of the transaction remain undisclosed.