In an effort to expand its brand presence in North America, U.S.-based Savills Studley, a commercial real estate services firm, has acquired Real Facilities, Inc., a Toronto-based firm that focuses exclusively on representing tenants.
The newly-acquired firm will continue to provide tenant representation, transaction management, capital markets, project management and design services to companies in multiple industries, such as office, industrial and retail.
Stan Krawitz, founder and president of Savills Studley, will oversee its operations as executive vice president, founder and head of Canada. In this role, Krawitz will focus on the firm’s growth in Toronto and across Canada, with a focus on attracting top-level talent as it expands into other major Canadian markets. He will work with senior vice president Allen Grinberg, senior vice president and Ontario branch manager Ken Norris and Savills Studley president Michael Colacino.
“It was important that Savills Studley create a strategic presence in Toronto, the fourth-largest commercial real estate market in North America,” said Colacino, in a press release. “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. Stan and the Savills Studley team share our steadfast commitment to the tenant representation model and providing best-in-class service to clients.”
“Joining Savills Studley provides us with a true global platform for our clients. Many Canadian companies are expanding to the U.S., as well as seeking locations in Europe and Asia,” said Krawitz. “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 transaction has been seamless.”
Following its inception in 1954, Savills Studley was the pioneer of the conflict-free business model of exclusively representing tenants in commercial real estate transactions. The firm is part of London-based Savills plc, a global real estate service provider that employs over 30,000 professionals in over 600 locations around the world.
