Altus Group Enhances US Appraisal Management Offerings with Acquisition of New Market Real Estate Group
TORONTO (January 10, 2018) – Altus Group Limited (ʺAltus Groupʺ or “the Company”) (TSX: AIF) a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry, announced today that it has acquired New Market Real Estate Group, LLC (“New Market”), a U.S. national real estate advisory firm.
“The acquisition of New Market strengthens our real estate advisory services offerings by enhancing our depth of valuation expertise to even better serve our large institutional clients,” said Rick Kalvoda, Senior Executive Vice President at Altus Group. “New Market’s experienced team and impressive industry reputation will add value to our growth initiatives.”
Founded in 2001, New Market offers a full range of real estate services throughout the United States including real estate research, valuation, acquisition, investment analysis and counseling services. It serves a diverse group of clients including pension funds, institutional lenders, real estate investment trusts, law firms, insurance companies, investors, developers and taxing authorities. The firm specializes in analysis of institutional-grade properties such as large mixed-use projects, office buildings, shopping centers, industrial properties, apartment high-rise buildings and complexes, hotels, resorts and development land.
“We look forward to joining Altus Group, which shares in our commitment of providing exceptional client service,” said Michael Carey, Founder and President of New Market Real Estate Group. “We are confident that our clients will benefit significantly from Altus Group’s expanded geographic reach, complementary advisory services and innovative technology solutions.”
New Market’s team of 11 seasoned real estate professionals will be integrated into the Company’s Altus Analytics division, increasing its number of professionals in the Northeast to deliver greater value to clients.
About Altus Group Limited
Altus Group Limited is a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,500 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants. Altus Group pays a quarterly dividend of $0.15 per share and our shares are traded on the TSX under the symbol AIF.
For more information on Altus Group, please visit: www.altusgroup.com.
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 information that relates to, among other things, objectives, strategies and intentions, and future financial and operating performance and prospects. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “plan”, “would”, “could” and other similar terminology. All of the forward-looking information in this press release is qualified by this cautionary statement. 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 Altus Group at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that 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. Please consult Altus Group’s most recent regulatory filings on SEDAR for more information on the Company’s forward-looking statements.