...Serving international clients looking to do business in the U.S. was also a factor in the latest CRE services industry merger, the announced $260 million acquisition by London-based Savills of tenant representation specialists Studley , based in New York City. The deal, which is expected to propel Savills strongly into the U.S., is expected to close by May 30.
"As global real estate advisor, we have to be strong in the U.S. We've been number one in many of the Asian markets where this money is coming from, so there's no doubt there's pressure from our Asian colleagues to be able to assist their clients investing in the States," Savills CEO Jeremy Helsby tells CoStar.
While China's economic issues may produce a hiccup in cross-border deal flow, there will be much more investment into U.S. real estate over the next five years from China, Korea, Singapore and other countries, Helsby says. The merger also allows Savills to help service international tenants, particularly from Asia, looking for U.S. space...Cross-Border Money Flowing Freely Into Leading U.S. Real Estate Markets
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