Savills Inc. announces that it has acquired SRS Lease Administration, LLC, from SRS Real Estate Partners, LLC (SRS) effective January 1, 2023. The group will combine with Savills existing lease management business, which is a core element of Savills client offering and its Portfolio Solutions Group. The team will consist of over 50 people with expertise averaging more than a decade of industry experience.
“Lease administration is a $6 billion global industry, and the demand for reliable and effective solutions continues to rise.Savills acquisition of the SRS Lease Administration team expands our current practice, further building out Savills Lease Administration service offering by adding an established team of cross-trained experts to meet client needs. This move enhances our bandwidth to manage our growth and adds new capabilities, including payment processing, to serve our clients better,” said Savills North America President David Lipson.
The SRS Lease Administration team provides highly flexible and scalable solutions, specializing in advisory and project services, critical date management, basic accounting, lease audits, full lease administration, and special projects. Their client roster includes more than 50 prominent tenants throughout the country. The team is based in Dallas and led by Vice President of Lease Administration Jean-Marie Villacampa, who will also join Savills through the acquisition. She will report to Executive Vice President of Lease Administration & Audit Kim Esposito, who oversees the practice for Savills in North America.
“The need for expanded talent and additional resources in lease administration and lease accounting has grown substantially over the past few years,” said Esposito. “We made this strategic decision with the evolving needs of our clients in mind. Given the increased levels of lease administration outsourcing, we are confident this transition will result in enhanced services, occupancy cost savings, and added value for our clients.”
Savills acquisition of SRS Lease Administration, LLC builds on its collaborative agreement with SRS. Last year, Savills and SRS announced a strategic alliance to offer occupiers, investors, and owners enhanced access to premier experts and market-leading services in commercial retail advisory worldwide.
