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astdil Secured is breaking with its long-held tradition of not offering retention bonuses to brokers. The company has offered $1 million bonuses to over 130 directors and managing directors, requiring them to stay on for five years. This move marks a significant shift from the company's "Eastdil way" culture, which valued autonomy and encouraged brokers to want to work with the firm without needing contracts.

    The change comes as Eastdil seeks to bring in more capital and solidify its position as a premier real estate investment banking firm. The company has hired BDT & MSD Partners to advise on strategic partnerships and growth initiatives. A memo from Eastdil notes that the firm is not for sale, but the retention packages may also be intended to prevent competitors from poaching its talent.

    Eastdil's competitors have been actively recruiting its top brokers in recent years. Newmark's capital markets team has hired several former Eastdil employees, including Jonathan Firestore and Clint Freese. JLL also recently hired Seven Binswanger, a protégé of Eastdil founder Roy March. The company was valued at $400 million in 2019, but could now be worth four to five times that amount, according to a source.