Savills, a London-based real estate services firm, has acquired Granite Partners LLC, a New York-based real estate investment banking company in a deal reportedly worth $54 million.
Granite Partners is re-branded as Savills Granite LLC under the leadership of company co-founder John D. Lyons, who assumes the title of Savills chief executive of North America.
Among other substantial deals, Savills advised Beacon Capital Partners, LLC of Boston on its $1.32 billion acquisition of the 34-story, 707,301-square-foot CityPoint office building in London in April. Granite, meanwhile, represented Lightstone Group in its $889 million acquisition of Prime Group Realty Trust, among other deals.
More on the deal here.