TORONTO, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Altus Group Limited ("Altus Group" or "Altus") (TSX:AIF), a leading provider of commercial real estate ("CRE") intelligence, announced today that it has signed a definitive agreement to sell its Development Advisory business to an affiliate of Newmark Group, Inc. ("Newmark") (NASDAQ:NMRK), a leading commercial real estate advisor and service provider to large institutional investors, global corporations and other owners and occupiers. The transaction, which is expected to close on September 1, 2026, includes Altus’ Development Advisory operations in North American and Asia Pacific.

In connection with the transaction, Newmark has expanded its multi-year ARGUS Intelligence agreement with Altus Group to include ARGUS Assist, the AI-powered conversational interface. ARGUS Assist enables users to ask about an asset or portfolio and it draws on relevant models, workflows and data to generate insights, further enhancing the tools available to Newmark professionals in serving clients.

"The sale of our Development Advisory business to Newmark marks the successful completion of our planned divestitures for the year and results in Altus being a much more focused company," said Mike Gordon, Chair and CEO of Altus. "Having already entrusted our Canadian Appraisal business to Newmark in March of 2026, we are confident the Development Advisory team and capabilities will continue to thrive under their ownership. For Altus, it sharpens our focus on our market leading valuation solutions, which we’re enhancing with AI, analytics, data and market experts to ensure our clients always have the best information to make better real estate decisions."

"We look forward to welcoming Altus’ Development Advisory team to Newmark’s Management Services business," said Roger Anscher, Newmark’s Chief Administrative Officer. "Their deep market expertise, client relationships, and development advisory capabilities are a strong complement to our platform. We are also excited to start leveraging ARGUS Assist, which will help our professionals generate insights more efficiently and deliver even greater value to clients. Complex analytical work that previously took days can now be surfaced in moments."

Altus’ Development Advisory business consists of approximately 335 employees across Canada, the US, Australia and Thailand. The employees joining Newmark through the acquisition will report to Peter Trollope, Newmark Global Head of Occupier Solutions.

"Development advisory is increasingly critical as clients navigate more complex decisions around capital investment, project delivery and the performance of their real estate," said Trollope. "The Altus business brings deep cost management and advisory expertise in infrastructure and large-scale development, diversifying our project management business from both a client and asset perspective and providing the foundation for a global cost management practice. With leading talent across major markets in Canada, the U.S., Australia and Thailand, the addition reflects our commitment to targeted expansion and strategic investment in the expertise our clients need."

About Altus Group

Altus Group is a leading provider of commercial real estate ("CRE") intelligence, anchored by ARGUS – the industry’s go-to software for valuation and performance analytics. For more than two decades, Altus has played a vital role in empowering CRE professionals with the analytics and trusted advice they need to make high-impact decisions with confidence. The world’s CRE leaders rely on our market-leading solutions and expertise to drive performance and manage risk. Our people around the world are driving meaningful impact in an industry undergoing unprecedented change – helping shape the cities where we live, work, and build thriving communities.

For more information about Altus (TSX:AIF) please visit www.altusgroup.com.

Forward-looking Information

Certain information in this press release may constitute "forward-looking information" within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes, but is not limited to, statements relating to expected divestitures (including expected timing of such divestitures), as well as the discussion of our business, strategies and expectations of future performance. Generally, forward-looking information can be identified by use of words such as "may", "will", "expect", "believe", "anticipate", "estimate", "intend", "plan", "would", "could", "should", "continue", "goal", "objective", "remain" and other similar terminology.

 

Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by us at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may not be known and may cause actual results, performance or achievements, industry results or events to be materially different from those expressed or implied by the forward-looking information.

Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Those risks include, but are not limited to: the Commercial Real Estate market conditions; the general state of the economy; our financial performance; our financial targets; our international operations; acquisitions, divestitures, joint ventures and strategic investments; business interruption events; third party information and data; cybersecurity; industry competition; technology strategy; our subscription renewals; our sales pipeline; professional talent; client concentration and loss of material clients; product enhancements and new product introductions; our use of technology; intellectual property; compliance with laws and regulations; privacy and data protection; artificial intelligence; our leverage and financial covenants; interest rates; inflation; our brand, reputation & social media risk; our ARGUS Intelligence transition; share repurchase programs; fixed price engagements; currency fluctuations; credit; tax matters; financial reporting standards; our contractual obligations; legal proceedings; regulatory review; our insurance limits; our internal and disclosure controls; our dividend payments; the price of our common shares; our capital investments; the issuance of additional common shares and debt; shareholder activism; health and safety hazards; environmental, social and governance (ESG) matters and climate change; and communications regulation, as well as those described in our annual publicly filed documents, including the Annual Information Form for the year ended December 31, 2025 (which are available on SEDAR+ at www.sedarplus.ca).  

Investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects management’s current expectations and beliefs regarding future events and operating performance and is based on information currently available to management. Although we have attempted to identify important factors that could cause actual results to differ materially from the forward-looking information contained herein, there are other factors that could cause results not to be as anticipated, estimated or intended. The forward-looking information contained herein is current as of the date of this press release and, except as required under applicable law, we do not undertake to update or revise it to reflect new events or circumstances. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus Group, our financial or operating results, or our securities. 

FOR FURTHER INFORMATION PLEASE CONTACT:

Camilla Bartosiewicz

Chief Communications Officer, Altus Group

(416) 641-9773

camilla.bartosiewicz@altusgroup.com