Wells Fargo to Sell Eastdil in Deal Valuing Firm at $400 Million

Wells Fargo & Co. agreed to a management buyout for its commercial real estate firm, Eastdil Secured LLC, in a deal valuing the brokerage at more than $400 million, a person familiar with the matter said.

Eastdil, which advised on $244 billion in transactions last year, partnered on the deal with Temasek and some institutional clients of Guggenheim Investments, Eastdil said in a statement June 11. Terms of the deal, expected to be completed in the fourth quarter, weren’t disclosed.

“Through this transaction, we will be better able to serve our clients with investments in enhanced technology, a broader footprint ...