TORONTO and NEW YORK CITY—As part of its continued expansion in North America, Savills Studley has acquired Real Facilities, a Toronto-based, full service commercial real estate firm committed exclusively to representing tenants.

The newly acquired office (www.savills-studley.ca) 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. Stan Krawitz, founder and president of Real Facilities, will oversee the operations for Savills Studley as executive vice president, and head of Canada.

Krawitz will focus on the growth of Savills Studley in Toronto and nationwide, with an emphasis on attracting top-level talent as it expands into other major Canadian markets. He will work together with senior vice president Allen Grinberg, senior vice president and branch manager of Ontario Ken Norris and Savills Studley president Michael Colacino.

"It was important that Savills Studley create a strategic presence in Toronto, the fourth-largest commercial real estate market in North America," Colacino said. "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."

In commenting, Krawitz remarked on a five-year-plus record of the two firms working together informally, and he pointed to new growth opportunities. 

"Joining Savills Studley provides us with a true global platform for our clients," Krowitz said. "Many Canadian companies are expanding to the US, as well as seeking locations in Europe and Asia. 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; the transition has been seamless."

Founded in 1954, Savills Studley pioneered the conflict-free business model of exclusively representing tenants in their commercial real estate transactions. The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 600 locations around the world.