Wells Sub to Buy RE Investment Banker

Wells Fargo & Co., San Francisco, has signed an agreement under which its New York-based real estate investment banking subsidiary, Eastdil Realty LLC, will purchase Secured Capital Corp., a privately held real estate investment banking firm based in Los Angeles.The terms of the transaction were not disclosed. The combined company will be known as Eastdil Secured. "The combination of Secured Capital and Eastdil will create complementary 'economies of skill' to help ensure superior transaction results for our clients," said David Hoyt, senior executive vice president of Wells Fargo's Wholesale Banking Group. "Their combined expertise will cover every capital investment transaction business line and every product type in the institutional commercial real estate industry." Wells Fargo can be found online at http://www.wellsfargo.com.