Savills Studley, part of London-based Savills, has reached a definitive agreement to acquire KLG Advisors, a US-based real estate consulting firm. KLG Advisors’ six staff will move into Savills Studley’s New York City offices. The value of the deal has not been disclosed.
KLG Advisors is a real estate consulting firm that provides advice on developing location and real estate strategies based on a comprehensive, long-term view that supports the broader goals of the overall business and the needs of its workforce. The firm has been founded in 1993 and since then worked for some of the largest businesses in the US, including Morgan Stanley, Fidelity, Pfizer, JP Morgan, Citigroup, among others. The firm provides
Savills Studley is an in 1954 founded global commercial real estate services firm that provides real estate solutions to organisations across all industries. The firm’s platform includes office brokerage, project management, capital markets, consulting and corporate services. Savills Studley has 26 offices in the US and as part of London-based Savills* has access to more than 27,000 professionals and over 600 locations around the world.
By joining together the firms will be able to better leverage their shared capabilities, histories of passionate client advocacy, and a commitment to ‘conflict free’ advisory. Commenting on the acquisition, Mitchell Steir, CEO and Chairman of Savills Studley, says: “KLG has the finest reputation among real estate advisory firms, providing unmatched analytical services combined with profound strategic guidance to some of the America’s most successful companies.
Doane Kelly, founding principal of KLG, explains that “KLG has received many overtures over the last two decades, but in the end there was really only one place where our intellectual capital could be effectively leveraged, and that was Savills Studley.”
KLG’s existing six professionals, all based in New York, will move into Savills Studley’s New York City offices.
* Last year, Savills acquired US-based Studley, rebranding the company to Savills Studley.