Wells Fargo & Co. is exploring a sale of its Eastdil Secured real-estate division, according to people familiar with the matter, as the bank continues to shed noncore businesses.

From the February issue: For the last six years, Eastdil Secured has beat out the competition, landing the top spot on The Real Deal’s ranking of New York City investment sales firms.

Luxury hotel owner Strategic Hotels and Resorts Inc <BEE.N> has hired investment bank Eastdil Secured to explore a possible sale of the real estate investment trust, two sources familiar with the ...