One of the Puget Sound's oldest, largest and most productive commercial real estate services firms, Kidder Mathews dropped Oncor International and affiliated with Insignia's Strategic Services Provider Program in February 2002. A year later, news of Insignia's pending acquisition by CB Richard Ellis sent Kidder Mathews looking for a new affiliation for its 87 brokers in four offices in Western Washington.
Kidder Mathews is headed by president and CEO Jeff Lyon, a 30-year veteran of the Puget Sound real estate market with the CCIM and SIOR designations. "The strong East Coast and European presence of the GVA brand, particularly in the New York and London markets, was a key factor in choosing GVA," says Lyon, who will be appointed to the GVA Board of Managers.
GVA comprises almost 3,000 real estate professionals serving approximately 80 markets. Kidder Mathews manages a property portfolio of over 13 million sf and each year facilitates more than $850 million in commercial real estate transactions.
As was the case with Kidder's membership in Insignia's Strategic Services Provider Program, Kidder's relationship with GVA will require an annual operating fee, traditional fee-sharing and the adoption of GVA's marketing policies and procedures, operating platform and corporate governance protocols. As well, Lyon tells GlobeSt.com that Kidder Mathews also will become a shareholder in GVA Worldwide.
"We went out and looked at our alternatives and compared it against going independent and decided the national and international platform was critical to our long-term growth," says Lyon, adding that the company will expand into the Portland, OR market at the end of the month.
GVA's Vice-Chairman Robert L. Freedman tells GlobeSt.com that the company has existing affiliates in San Francisco and Vancouver, B.C. and had been on the hunt for some time for the right partner in the Northwest. "This is the kind of fallout (that occurs as our industry consolidates and) we were able to exploit it to upgrade our platform," says Freedman. "It was both strategic and opportunistic."
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