Altus Group Sells Development Advisory Business to Newmark for Strategic Focus
Event summary
- Altus Group has agreed to sell its Development Advisory business to Newmark for an undisclosed sum, with the deal expected to close on September 1, 2026.
- The transaction includes operations in North America and Asia Pacific, encompassing approximately 335 employees across Canada, the US, Australia, and Thailand.
- Newmark has expanded its ARGUS Intelligence agreement with Altus Group to include ARGUS Assist, an AI-powered conversational interface for real estate insights.
- This divestiture follows Altus' sale of its Canadian Appraisal business to Newmark in March 2026.
The big picture
The sale marks Altus Group's continued streamlining of its business, focusing on core valuation solutions enhanced by AI and analytics. For Newmark, the acquisition expands its service offerings and integrates advanced AI tools to better serve institutional investors and corporate clients. This transaction reflects broader industry trends toward consolidation and technological enhancement in commercial real estate services.
What we're watching
- Strategic Focus
- How Altus Group's divestitures will sharpen its focus on valuation solutions and AI-enhanced analytics.
- AI Integration
- The pace at which Newmark leverages ARGUS Assist to streamline complex analytical work for clients.
- Market Dynamics
- Whether the consolidation of development advisory services under Newmark will enhance its competitive position in global real estate markets.
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