Real Facilities, a Toronto-based full-service commercial real estate firm, has been acquired by international real estate advisor Savills Studley as part of the company's continued expansion in North America. While terms of the deal were not disclosed, in a press release Savills indicated that Stan Krawitz, who founded Real Facilities in 2000, will oversee the operations for Savills Studley as Executive Vice President, Founder and Head of Canada. The newly acquired office will continue to provide tenant representation, transaction management, capital markets, project management and design services to companies across multiple industries, including office, industrial and retail.
"It was important that Savills Studley create a strategic presence in Toronto, the fourth-largest commercial real estate market in North America," Michael Colacino, President of Savills Studley, said of the deal. "We are very excited by the opportunities this acquisition presents for our clients as many multinational firms have targeted the Greater Toronto Area for growth. Stan and the Real Facilities team share our steadfast commitment to the tenant representation model and providing best-in-class service to clients."
Stan Krawitz added: "Savills Studley and Real Facilities have collaborated on numerous large transactions for clients on both sides of the border for more than five years. In many ways, this is just the formalization of the great partnership we've enjoyed. Joining Savills Studley provides us with a true global platform for our clients. Many Canadian companies are expanding to the U.S, as well as seeking locations in Europe and Asia. The transition has been seamless."
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