Wha?!?

Whoa

Wonder if cushman goes ahead to buy Eastdil for the big 3 arms race?

I thought Wells Fargo owned ES?

Last I heard, Eastdil management was working with Temasek to capitalize a management led buyout of Wells Fargo and remain independent. Who knows if or how this changes anything, but Eastdil would be a much more expensive acquisition than HFF.

Red Pear Realty said:

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I thought Wells Fargo owned ES?

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Wells has been actively marketing their stake in ES for about a year now. Too many conflicts of interest and issues with banking regulations for them to own such a large stake.

I work in Houston and this is less than ideal news, HFF was conflict free without any internal leasing and/or management services, so you could refer them work and not worry about referring it to the competition. Marcus & Millichap & Stan Johnson are the only other similar platforms in Houston and they're not at the level of HFF,

this

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HFF was conflict free without any internal leasing and/or management services, so you could refer them work and not worry about referring it to the competition

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RustyBV said:

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I work in Houston and this is less than ideal news, HFF was conflict free without any internal leasing and/or management services, so you could refer them work and not worry about referring it to the competition. Marcus & Millichap & Stan Johnson are the only other similar platforms in Houston and they're not at the level of HFF,

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That conflict free concept was certainly an HFF selling point, but from my experience it was more of a negative than a positive. HFF doesn't have the boots on the ground knowledge that CBRE/JLL/C&W have on the leasing side that is beneficial to educating potential buyers and sellers current real-time market comps and trends. Good "street brokers" can add a lot of value on the leasing and deal sourcing side that HFF just can't.

That's obviously a blanket statement that isn't universally true, but that "conflict free" line has always rubbed me the wrong way as being slightly arrogant and dismissive of all the different parties involved in successful deals.

My viewpoint is different as I'm on the leasing side, but brokers would share more information with an HFF broker than a similar broker at CBRE/JLL broker because you weren't worried about conflict, so HFF had much more market knowledge and market share because of this. Will be interesting to see who at JLL/HFF stays and goes, moving shops on the capital markets side is not easy.

Eastdil is selling to a venture led by Guggenheim Investments and Singapore-based sovereign wealth fund Temasek Holdings.

https://product.costar.com/home/news/shared/135496389

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Eastdil CEO Roy March has been negotiating for months with a Singapore sovereign wealth fund to sell his company's real estate brokerage, and talks now appear to be heating up.

According to two people familiar with the matter, March hoped to have a deal with Temasek to buy out the brokerage from parent Wells Fargo by the end of 2018. The Wall Street Journal reported Friday that New York private equity shop Guggenheim Investments has now partnered with Temasek in a possible deal.

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ES just announced their deal with Temasek

ES is a wreck at the moment. Good time to sell.