Savills Inc. has acquired SRS Lease Administration LLC from SRS Real Estate Partners LLC. The group will combine with Savills existing lease management business, with a team of more than 50 people with expertise averaging more than a decade of industry experience.
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.
“Lease administration is a $6 billion global industry, and the demand for reliable and effective solutions continues to rise,” said David Lipson, president at Savills North America. “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.”
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 Jean-Marie Villacampa, who will also join Savills through the acquisition, serving as vice president of lease administration. She will report to Executive Vice President of Lease Administration and 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.”
