In the News
March 02, 2012
Kidder, Binswanger Partner with Asian Firm
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Local asset manager Synergis has formed a strategic partnership with Seattle-based Kidder Mathews and Philadelphia-based Binswanger. The partnership will market property services to US investors seeking access to China properties, and Chinese investors seeking to invest outside of their country.
The two US companies had already formed a partnership a year ago to share contacts from both coasts, Kidder Mathews CEO Jeff Lyon tells GlobeSt.com. "We both realized we had a void in respective services to China," he says. "One of our partners has been going to China for 35 years and built a relationship, and suggested Synergis, and they provided a really good fit."
There's an enormous demand by US investors to work with Chinese property, and the feeling is mutual by Chinese investors, Lyon says. "Everyone we talk to, China comes up in conversation," he says. "There's a tremendous amount of Chinese firms trying to become international companies and want to expand, and we can help them on the West Coast. Binswanger is also working with significant users who want to enter the industrial market in China."
Synergis was founded in 1978 and listed on the Hong Kong Stock Exchange in 2003. The company manages more than 385 properties and facilities in Hong Kong and China, including more than 165,000 residential units and 144 million square feet of residential, commercial and industrial facilities from both the public and private sectors. Synergis is a subsidiary of Hsin Chong Construction Group Ltd. as of 2008.
Lyon says there are projects being negotiated currently, but that he can't yet discuss them. The venture plans to focus on the markets of Shanghai, Beijing and Shenzhen, and will also cover here, Xian, Guangzhou and other cities.