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

Executive Summary

• Altus Group entered a definitive agreement to sell its Canadian Appraisals business to an affiliate of Newmark Group, with the transaction expected to close on or about March 1, 2026.
• Concurrently, Altus and Newmark signed a multi‑year license agreement granting Newmark global access to Altus’ ARGUS Intelligence platform and related software/data offerings.
• The divestiture is presented as a strategic move to simplify Altus’ portfolio and focus on core analytics capabilities, while providing Newmark with expanded advisory‑driven revenue streams in Canada.

Key Details

• Transaction Parties: Altus Group Limited (TSX: AIF) – seller; affiliate of Newmark Group, Inc. (NASDAQ: NMRK) – buyer.
• Asset Sold: Altus’ Canadian Commercial Real Estate Appraisals business (≈8 offices, >140 professionals, 3,000+ clients).
• Closing Date: Expected on or about March 1, 2026, subject to customary closing conditions.
• Purchase Price / Consideration: Not disclosed in the release.
• License Agreement: Multi‑year agreement giving Newmark global access to Altus’ ARGUS Intelligence suite (Portfolio Manager add‑on, Forbury, ARGUS EstateMaster, Reonomy, Altus Data Studio).
• Strategic Rationale – Altus: “Simplify our portfolio and sharpen focus on core analytics capabilities.” (Mike Gordon, CEO)
• Strategic Rationale – Newmark: Enhances Newmark’s Valuation & Advisory offering with a premier Canadian appraisal business and expands recurring advisory‑driven revenue. (Roger Anscher, Chief Administrative Officer)
• Leadership Change: Colin Johnston, former President of Altus’ Canadian Appraisals business, appointed Head of Valuation & Advisory Services, Canada for Newmark.
• Operational Impact: The Canadian Appraisals team will become part of Newmark’s Valuation & Advisory platform; Altus will continue to serve the Canadian market with its analytics and data solutions.

Notable Quotes

“Altus Group’s divestiture reflects our ongoing efforts to simplify our portfolio and sharpen our focus on core analytics capabilities.” – Mike Gordon, CEO, Altus Group

“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.” – Roger Anscher, Chief Administrative Officer, Newmark

Materiality Assessment: Material – Positive (significant strategic transaction affecting both companies’ core businesses).