Real estate firm the Savills Investment Management has completed a deal to acquire Spanish and Portuguese real estate advisory firm Aguirre Newman for €67m ($81m). The payment will be made in several installments over a five-year period following completion. The new business will be retitled "the Savills Investment Management Aguirre Newman", with Aguirre Newman's present real estate investment and asset management company Zaphir being taken under Savillsthe Savills Investment Management Investment Management umbrella. The acquisition will allow the Savills Investment Management to take a strong market position across Spain, Portugal and the wider European area.
Real estate firm Savills has completed a deal to acquire Spanish and Portuguese real estate advisory firm Aguirre Newman for €67m ($81m). The payment will be made in several installments over a five-year period following completion. The new business will be retitled "Savills Aguirre Newman", with Aguirre Newman's present real estate investment and asset management company Zaphir being taken under the Savills Investment Management umbrella. The acquisition will allow Savills to take a strong market position across Spain, Portugal and the wider European area.