Wells Fargo is reportedly looking at the possibility of selling its real estate division, Eastdil Secured, as part of its ongoing strategy to dispose of its non-core businesses.
The bank is anticipating interest from the private equity sector, according to the Wall Street Journal.
Established in 1967, Eastdil Secured currently operates in 11 US states as well as in London, Frankfurt, Tokyo and Hong Kong.
READ MORE: Eastdil Secured – meet the men behind Manhattan’s real estate disruptor
In London, Eastdil is acting on several big sales, including the sale of office block Verde, SW1, on behalf of Tishman Speyer and PSP Investments; Blackstone’s sale of the Adelphi, WC2, to Pontegadea; and Goldman Sachs’ £1.3bn sale and leaseback of its new London headquarters at 40 Shoe Lane, EC1.
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