Studley Purchase: Big Deal for Unusual Player
May 4, 2014

There's little mystery why London-based Savills PLC chose Studley Inc. as its U.S. acquisition target after considering a wide range of other commercial real-estate brokerages in this country: New York-based Studley has been involved in some of Manhattan's biggest deals over the years in part because of its unusual approach to representing tenants only...

Savills and Studley senior management are being careful to ensure that the merger preserves the Studley culture and people. The U.S. operation will be called Savills Studley, preserving the name that dates to 1954 when Julien Studley formed the brokerage that grew to include 25 U.S. offices. The U.S. operation will continue to be run by Mitchell Steir, Studley's chairman and chief executive, and Michael Colacino, the firm's president...

But there's one element of Studley's culture that's more intangible than people or its name—its unusual approach to brokerage.

While most competitors represent both landlords and tenants in different deals, Studley represents only tenants. The firm has attracted loyal clients over the years by pointing to the obvious conflicts that might crop up among competitors who might sit on the tenant's side of the table on one deal and the tenant's landlord on another.

Studley Purchase: Big Deal for Unusual Player

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