Luxford Investment Group founder Michael Chen has been named as the new executive director of the division, it was announced Thursday.
The Compass group, which says that it brought in over $726 million in sales in 2020, will serve both L.A.-based Asian buyers and buyers in major cities on the Asian continent.
Michael Chen, founder of the Luxford Investment Group, has been named as its executive director and will work to oversee transactions with Aaron Kirman Group’s Southeast Asian real estate market. According to the Kirman Group’s announcement, Asian clientele often use L.A. as a base and look to buy luxury investment or part-time properties in major Asian cities — the new division will tailor specifically to that demand.
“We’re excited to announce the launch of our new Asia-Pacific Division and welcome Michael Chen to lead our efforts there,” Aaron Kirman, founder and president of the Aaron Kirman Group and president of international luxury estates at Compass, said in a statement. “Our alliances in Asia are unmatched, and sales to Asian buyers in the Los Angeles luxury real estate market comprise a sizable percentage of our overall sales. Los Angeles is the gateway to the Pacific Rim and remains a safe haven for investors. Launching this new division allows us to specialize to an even greater degree in this lucrative market.”
Chen, whose company has partnered with publicly traded corporations like HuaYi Brothers and Septwolves, said that he is looking forward to working with Kirman’s team to grow its Asian presence and better serve Asian luxury buyers.
“I’m pleased to be joining Aaron Kirman Group to further their efforts in the Southeast Asian real estate market,” Chen said in a statement. “I look forward to the opportunity to bring my experience and connections to Aaron Kirman Group’s clients.”
Email Veronika Bondarenko