February 17, 2026 4:05 PM
Altus Group Limited (“Altus Group”, or “Altus”) (TSX: AIF), a leading provider of commercial real estate (“CRE”) intelligence, announced today that it has entered into a definitive agreement to sell its Canadian Appraisals business to an affiliate of Newmark Group, Inc. (“Newmark”) (NASDAQ: NMRK).The acquisition is expected to close on or about March 1, 2026, subject to customary closing conditions. Altus’ Canadian Appraisals business will become part of Newmark’s Valuation & Advisory
offering. Newmark has also entered into a multi-year license agreement with Altus Group for global access to ARGUS Intelligence, among its other software and data offerings, expanding Newmark’s Valuation & Advisory’s performance analytics software and data subscriptions.
“Altus Group’s divestiture reflects our ongoing efforts to simplify our portfolio and sharpen our focus on core analytics capabilities,” said Mike Gordon, CEO of Altus Group. “The Canadian Appraisals business has played an important role in supporting clients and establishing Altus as a trusted source of market intelligence. We are grateful for the team’s contributions, and we’re confident that as part of Newmark’s global advisory services, the business will continue to thrive, creating meaningful opportunity for both clients and employees while continuing to leverage ARGUS Intelligence and our data offerings.”
“Newmark’s global Valuation & Advisory business will be further enhanced with the addition of a premier Canadian business with an exceptional reputation across institutional, lender and public-sector clients,” said Roger Anscher, Newmark’s Chief Administrative Officer. “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.”
Altus Group’s Canadian commercial real estate Appraisal business has been a leading advisor to institutional funds, REITs, lenders, developers, property owners and public-sector entities, having operations in Canada for over 25 years with eight offices, over 140 professionals and more than 3,000 clients.
“We’re delighted to expand our services with the addition of one of Canada’s largest and most respected groups of Accredited Appraiser Canadian Institute (AACI) designees,” said John D. Busi, President of Newmark’s Valuation & Advisory group. “Over the past decade, the demand for independent valuation and analytics has grown dramatically, and this acquisition positions Newmark to meet that demand with greater scale, local depth and global connectivity.”
As part of the acquisition, Newmark has named Colin Johnston, former President of Altus’ Canadian Appraisals business and one of the industry’s preeminent valuation professionals with over 30 years of experience in the CRE sector, as Head of Valuation & Advisory Services, Canada.
The expanded software and data agreement with Newmark includes access to certain of Altus’ suite of software and data offerings, including ARGUS Intelligence with the Portfolio Manager add-on capability, Forbury, ARGUS EstateMaster, Reonomy and Altus Data Studio. Altus remains committed to investing in and serving the Canadian market with its analytics and data solutions, which have supported the success of the Canadian Appraisals team, and are integral to CRE professionals nationwide.
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-stakes 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 making a
lasting impact on 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.
Altus Group Forward-looking Information [1]
Certain
information in this press release may constitute “forward-looking
information” and “forward-looking statements” 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 (collectively, “forward-looking information”).
Forward-looking information includes, but is not limited to, statements
relating to the Company’s business, strategies and expectations of
future performance and expected financial and other benefits of the sale
of Altus’ Canadian Appraisals business and entry into of a new
long-term agreement with [an affiliate]
of Newmark. 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. 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 CRE market conditions;
the general state of the economy; our financial performance; our
financial targets; our international operations; acquisitions, joint
ventures and strategic investments; business interruption events; third
party information and data; cybersecurity; industry competition;
professional talent; our subscription renewals; our sales pipeline;
client concentration and loss of material clients; product enhancements
and new product introductions; technological strategy; 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 and
reputation; our cloud transition; fixed price engagements; currency
fluctuations; credit; tax matters; our contractual obligations; legal
proceedings; regulatory review; health and safety hazards; our insurance
limits; our ability to meet the solvency requirements necessary to make
dividend payments; our share price; market liquidity and volatility;
execution risks associated with any capital return programs (including
any normal course issuer bid or substantial issuer bid), such as the
availability of shares for purchase, unanticipated tax consequences, the
level of shareholder participation in any substantial issuer bid, the
timing, pricing, suspension or termination of any program, and our
ability to fund repurchases while maintaining our targeted leverage and
compliance with financial covenants; our capital investments; the
issuance of additional common shares and debt; our internal and
disclosure controls; and environmental, social and governance (“ESG”)
matters and climate change, as well as those described in our annual
publicly filed documents, including the Annual Information Form for the
year ended December 31, 2024 (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.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion. [As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.
Newmark Forward-Looking Information
Statements in this document regarding Newmark that are not historical
facts are “forward-looking statements” that involve risks and
uncertainties, which could cause actual results to differ from those
contained in the forward-looking statements. These include statements
about Newmark’s business, results, financial position, liquidity, and
outlook, which may constitute forward-looking statements and are subject
to the risk that the actual impact may differ, possibly materially,
from what is currently expected. Except as required by law, Newmark
undertakes no obligation to update any forward-looking statements. For a
discussion of additional risks and uncertainties, which could cause
actual results to differ from those contained in the forward-looking
statements, see Newmark’s Securities and Exchange Commission filings,
including, but not limited to, the risk factors and Special Note on
Forward-Looking Information set forth in these filings and any updates
to such risk factors and Special Note on Forward-Looking Information
contained in subsequent reports on Form 10-K, Form 10-Q, or Form 8-K.
[1]Legal to review