Newmark acquires Altus’ Canadian Appraisal business and adopts ARGUS Intelligence, expanding software and data subscription services
Altus Group Limited (“Altus Group”, or “Altus”) (TSX: AIF), a leading provider of commercial real estate (“CRE”) intelligence, announced today that it has entered into a definitive agreement to sell its Canadian Appraisals business to an affiliate of Newmark Group, Inc. (“Newmark”) (NASDAQ: NMRK). The acquisition is expected to close on or about March 1, 2026, subject to customary closing conditions. Altus’ Canadian Appraisals business will become part of Newmark’s Valuation & Advisory offering. Newmark has also entered into a multi-year license agreement with Altus Group for global access to ARGUS Intelligence, among its other software and data offerings, expanding Newmark’s Valuation & Advisory’s performance analytics software and data subscriptions.
“Altus Group’s divestiture reflects our ongoing efforts to simplify our portfolio and sharpen our focus on core analytics capabilities,” said Mike Gordon, CEO of Altus Group. “The Canadian Appraisals business has played an important role in supporting clients and establishing Altus as a trusted source of market intelligence. We are grateful for the team’s contributions, and we’re confident that as part of Newmark’s global advisory services, the business will continue to thrive, creating meaningful opportunity for both clients and employees while continuing to leverage ARGUS Intelligence and our data offerings.”
“Newmark’s global Valuation & Advisory business will be further enhanced with the addition of a premier Canadian business with an exceptional reputation across institutional, lender and public-sector clients,” said Roger Anscher, Newmark Chief Administrative Officer. “This acquisition provides a strong complement to Newmark’s existing brokerage and advisory business in Canada and reflects our continued focus on expanding recurring, advisory-driven revenue streams globally.”
Altus Group’s Canadian commercial real estate Appraisal business has been a leading advisor to institutional funds, REITs, lenders, developers, property owners and public-sector entities, having operations in Canada for over 25 years with eight offices, over 140 professionals and more than 3,000 clients.
“We’re delighted to expand our services with the addition of one of Canada’s largest and most respected groups of Accredited Appraiser Canadian Institute (AACI) designees,” said John D. Busi, President of Newmark’s Valuation & Advisory group. “Over the past decade, the demand for independent valuation and analytics has grown dramatically, and this acquisition positions Newmark to meet that demand with greater scale, local depth and global connectivity.”
As part of the acquisition, Newmark has named Colin Johnston, former President of Altus’ Canadian Appraisals business and one of the industry’s preeminent valuation professionals with over 30 years of experience in the CRE sector, as Head of Valuation & Advisory Services, Canada.
The expanded software and data agreement with Newmark includes access to certain of Altus’ suite of software and data offerings, including ARGUS Intelligence with the Portfolio Manager add-on capability, Forbury, ARGUS EstateMaster, Reonomy and Altus Data Studio. Altus remains committed to investing in and serving the Canadian market with its analytics and data solutions, which have supported the success of the Canadian Appraisals team and are integral to CRE professionals nationwide.
