Management buyout of Wells Fargo’s Eastdil is a bet on WeWork and tech firms disrupting real estate’s biggest players
Real-estate firm Eastdil Secured LLC is buying back control of the company from Wells Fargo & Co., betting it can prosper as an independent boutique operation even as its competitors are growing bigger and going public.
Led by Chief Executive Roy March, Eastdil struck a deal for a management buyout, the firm said. Guggenheim Investments’ clients and the Singapore investment company Temasek Holdings Pte. Ltd. are also taking ownership stakes in the firm. Wells Fargo, which has owned Eastdil for 20 years, will retain a minority...
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