Altus Group Announces the Sale of its Canadian Appraisals Business to Newmark

Core Viewpoint - Altus Group Limited has entered into a definitive agreement to sell its Canadian Appraisals business to Newmark Group, Inc., with the transaction expected to close around March 1, 2026, subject to customary conditions [1] Group 1: Transaction Details - The Canadian Appraisals business will be integrated into Newmark's Valuation & Advisory offering, enhancing its capabilities [1] - Newmark has also signed a multi-year license agreement with Altus for global access to ARGUS Intelligence and other software, which will expand Newmark's performance analytics software and data subscriptions [1][4] Group 2: Strategic Rationale - The divestiture is part of Altus Group's strategy to simplify its portfolio and focus on core analytics capabilities [2] - Altus Group's Canadian Appraisals business has been a key advisor in the commercial real estate sector for over 25 years, serving more than 3,000 clients [2] Group 3: Leadership and Expertise - Colin Johnston, former President of Altus' Canadian Appraisals business, has been appointed as Head of Valuation & Advisory Services, Canada at Newmark, bringing over 30 years of experience in the commercial real estate sector [3] Group 4: Software and Data Offerings - The expanded agreement with Newmark includes access to Altus' suite of software and data offerings, which are essential for commercial real estate professionals [4]