As expected, last December 29 the international real estate consulting company Savills completed the acquisition of a 100% stake in Aguirre Newman for a total of 67 million euros, to be paid over five years. As it announced on January 8, the Spanish consulting company is rebranded Savills Aguirre Newman for its business in Spain and Portugal. The real estate investment and asset management business Zaphir will be transferred to Savills Investment Management.

Santiago Aguirre and Stephen Newman founded Aguirre Newman in 1988. Headquartered in Madrid and with offices in Barcelona, Malaga, Lisbon and Oporto, it has over 400 employees, and ended 2016 with a gross turnover of 69 million euros. Its relation with Savills dates from the 1980s, when both companies joined forces to create strong synergies that they have maintained to the present day. The British company has a team of 70 people in its offices in Madrid and Barcelona.

Management team
The senior management of the new combined company will be as follows: Santiago Aguirre will become Chairman of the Board, and Stephen Newman and Rafael Merry del Val are appointed CEO and joint vice-chairmen. The senior management team will include: Borja Sierra as International Executive Vice President , José Navarro and Jaime Pascual-Sanchiz as Managing Directors, Javier Echeverría as Chief Operating Officer, and Ángel Serrano as Business Managing Director and Director of Architecture for Southern Europe. The Barcelona office be led by Anna Gener as Chairwoman and CEO and Arturo Díaz as Chairman. Paulo Silva will take on the role as Head of Portugal.

According to Mark Ridley, CEO of Savills UK & Europe: “The acquisition of Aguirre Newman represents a very significant part of our continued growth across Europe. The combined business will take a market leading position across all sectors in Spain, linking in with the other countries across our global network”.

Commitment to talent and innovation
Santiago Aguirre says: “Over the last 30 years we have become a leading company in the real estate sector in Spain and Portugal. We have maintained a constant development based on a strategy of sustained growth and a solid commitment to talent, innovation and the application of ethical values, all things that we share with Savills”.

For his part, Stephen Newman says: ““From this exciting merger Savills Aguirre Newman is well placed to become the consultant of choice for all real estate advice within the markets we cover. We will continue to provide the best advice for the real estate needs of our clients, generating further added value for them”.

Rafael Merry del Val says: “We begin a very exciting new stage in which we will give our very best. Together we combine the power of Aguirre Newman and the entrepreneurial spirit of Savills into a very powerful new brand. Savills Aguirre Newman brings together a unique combination of experience, people and market knowledge with which we are already beginning to grow and develop together as a company and as people”.