PRIM Engagement Further Expands U.S. Reach for Altus Group
Independent Real Estate Advisory and Data Intelligence for Massachusetts State Teachers’ and Employees’ Retirement Systems Pension Fund
TORONTO, ONTARIO (February 5, 2013) – Altus Group Limited (“Altus”) (TSX:AIF) is pleased to announce that its North American Valuation division has signed a three-year contract with Pension Reserves Investment Management Board of Massachusetts (“PRIM”) to provide Valuation Services for the pension fund’s real estate investment portfolio. This signifies another influential pension fund client that Altus has engaged in the past six months, following CalPERS in 2012. This engagement is an even further reflection of Altus’ leading industry status in providing independent, professional consultancy services, along with proprietary data and technology.
Altus’ technology platform, including DataBridge and DataExchange, offers clients a range of unparalleled analytics that will allow PRIM to analyze its portfolio against the competitive universe, as well as benchmark individual property valuations against those in the pension fund’s peer group. This capability will enable PRIM to gauge the performance of its assets against similar properties in a specific region, resulting in greater transparency, compliance, and risk mitigation.
“Mass PRIM’s selection of Altus reinforces our belief that clients continue to rely on our independent perspective as the industry standard,” said Robert Ruggles, President, Research, Valuation & Advisory, USA, Altus Group. “Our ability to harness market data and intelligence into real business value through a wealth of proprietary technology, differentiates us in the marketplace.”
Altus’ analytics platform and service offerings, including software programs DataBridge, DataExchange, and DataEvent, continue to attract a number of industry-leading clients in the investment management, pension and insurance sectors.
About Altus Group’s Research, Valuation & Advisory Practice
A trusted source of independent appraisal management expertise, analysis and market information, Altus Group’s Research, Valuation and Advisory team is the leading provider of market intelligence and data, allowing clients to better assess ROI and manage the risks associated with their assets. Supported by one of the most complete market knowledge infrastructures across North America, our professional advisors have a wide range of specialized skills, knowledge and experience in both local and national markets. They also have a thorough understanding of how individual market dynamics relate to national and international trends, and they consistently deliver solid, independent advice. RVA offers the following services: valuation and appraisal, legal support, decision-making support, financial due diligence, targeted research, market information and perspective, tenant satisfaction studies, industry benchmark reporting, and presentation materials. For further information, visit https://www.altusgroup.com/en-us/business-units/valuation-advisory.
About Altus Group Limited
Altus leads the global real estate industry in offering professional real estate advisory services, data solutions and intelligence about an organization’s assets, generating a wealth of knowledge and insight. With a staff of over 1,700, Altus has a network of over 50 offices in a number of countries worldwide, including Canada, the United Kingdom, the United States, Australia and China. We operate five interrelated Business Units, bringing years of experience and a broad range of expertise together into one comprehensive platform: Research, Valuation and Advisory; Cost Consulting and Project Management; Realty Tax Consulting, Geomatics and ARGUS Software. Altus’ clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords and companies engaged in the oil and gas industry.
About Pension Reserves Investment Management Board of Massachusetts
The Pension Reserves Investment Management (“PRIM”) Board is charged with the general supervision of the PRIT Fund. The Pension Reserves Investment Trust (“PRIT”) Fund is a pooled investment fund established to invest the assets of the Massachusetts State Teachers’ and Employees’ Retirement Systems, and the assets of county, authority, district, and municipal retirement systems that choose to invest in the Fund.
Camilla BartosiewiczBartosiewiczVice President, Investor Relations