Eastdil Realty Agrees to Buy Secured Capital

Los Angeles real estate investment banking firm Secured Capital Corp. has agreed to be acquired by Eastdil Realty, the New York-based real estate investment banking subsidiary of Wells Fargo & Co., the companies said.

The combined company will be known as Eastdil Secured. Terms of the transaction were not disclosed. It is expected to close early next year.

Eastdil executives Benjamin V. Lambert and Roy H. March will be chairman and chief executive, respectively, of the new company. D. Michael Van Konynenburg and W. Jay Borzi of Secured Capital will become president and managing director.

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-- Roger Vincent