Savills has bought a life science and tech advisory firm, as it seeks to boost its services in the booming sectors.
The agent has bought US-based T3 Advisors, which counts LinkedIn, Decibel Therapeutics and a range of other tech and life sciences firms among its clients, in a bid to “accelerate growth of its real estate and workplace services” across the US, UK, Europe and Asia Pacific.
Roy Hirshland, chief executive and founder of T3, who has more than 33 years of experience in the sector, will become a vice chairman at Savills. He will continue to lead T3 Advisors and focus on integrating the group’s approach to real estate advisory into the global Savills platform. T3 managing partners Austin Barrett, David Bergeron, and Mark Cote will become executive vice presidents within Savills.
Hirshland said: “This is a merger that we have been considering carefully over some time, and I couldn’t be more excited about the next phase of T3’s journey. I am proud to be part of the leadership team as we continue to expand the innovative, unique real estate and workplace services that we provide to clients.”
Mark Ridley, the global chief executive of Savills, said: “The acquisition of T3 will further amplify the life science and technology industry advisory services that Savills can provide to clients on a global basis. These are key growth sectors for us and are integral to our continued strategic expansion across North America.”
T3 was founded in 2001 and has offices in Boston, New York, San Francisco, and Palo Alto. Savills said the firm was best known for offering “innovative, sound real estate advice to chief executives navigating change within a highly dynamic business environment”.
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