Altus Group Announces the Sale of its Canadian Appraisals Business to Newmark
Rhea-AI Summary
Altus Group (TSX:AIF) agreed to sell its Canadian Appraisals business to an affiliate of Newmark (NASDAQ:NMRK), with closing expected on or about March 1, 2026. The deal moves the unit into Newmark's Valuation & Advisory offering.
Newmark also signed a multi-year license for ARGUS Intelligence and other Altus software and data, while Newmark named Colin Johnston to lead Valuation & Advisory Services, Canada. The Canadian unit comprises 8 offices, 140+ professionals and more than 3,000 clients.
Positive
- Definitive sale to Newmark expected to close on or about March 1, 2026
- Multi-year software license for ARGUS Intelligence and other Altus offerings
- Canadian appraisals business brings 8 offices, 140+ professionals and >3,000 clients
- Colin Johnston named Head of Valuation & Advisory Services, Canada at Newmark
Negative
- Altus divests a long-standing Canadian appraisal unit after >25 years of operations
- Sale removes on-the-ground appraisal capacity of 8 offices and 140+ professionals from Altus
News Market Reaction – NMRK
On the day this news was published, NMRK gained 6.02%, reflecting a notable positive market reaction. This price movement added approximately $150M to the company's valuation, bringing the market cap to $2.64B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
NMRK is up 3.42% while key real estate services peers like CWK (-4.49%), CIGI (-2.85%) and COMP (-2.23%) are down, indicating a stock-specific reaction rather than a sector-wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 12 | Leasing mandate | Positive | -4.2% | Named exclusive leasing agent for 3.2M sf of Dulles office assets. |
| Feb 09 | Financing deal | Positive | +2.6% | Arranged $415M refinancing for 2.4M sf grocery-anchored retail portfolio. |
| Feb 02 | Leasing engagement | Positive | -2.6% | Engaged by Vornado for next phase of THE PENN DISTRICT retail project. |
| Jan 30 | Large refinancing | Positive | +0.7% | Arranged $690M SASB refinancing for 13 Sun Belt multifamily properties. |
| Jan 21 | Earnings notice | Neutral | -1.0% | Announced timing of Q4 and full-year 2025 financial results release. |
Recent operational wins have produced mixed price reactions, with both gains and pullbacks following generally positive mandates and financing announcements.
Over recent months, Newmark has reported several notable mandates and financings, including a $690 million multifamily refinancing on Jan 30, 2026 and a $415 million grocery-anchored retail refinancing on Feb 9, 2026. It was also selected for major leasing roles in THE PENN DISTRICT and along the Dulles Corridor. Price reactions to these generally positive business updates have alternated between rises and pullbacks, suggesting investors weigh broader CRE conditions alongside individual wins when repricing the stock.
Market Pulse Summary
The stock moved +6.0% in the session following this news. A strong positive reaction aligns with Newmark’s pattern of winning new mandates and expanding advisory capabilities, as seen in prior refinancing and leasing announcements. Investors have alternated between reward and caution on such news, so a large move could face consolidation if broader CRE sentiment weakens or deal expectations adjust. With shares still below the 52-week high, position sizing and reliance on a single catalyst would have remained key considerations.
Key Terms
valuation & advisory financial
cre financial
AI-generated analysis. Not financial advice.
Newmark acquires Altus' Canadian Appraisal business and adopts ARGUS Intelligence, expanding software and data subscription services
"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 Chief Administrative Officer. "This acquisition provides a strong complement to Newmark's existing brokerage and advisory business in
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
"We're delighted to expand our services with the addition of one of
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,
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 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
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
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.
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.
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SOURCE Newmark Group, Inc.
FAQ
What did Newmark (NMRK) acquire from Altus Group on February 17, 2026?
When is the Altus to Newmark sale expected to close for the Canadian Appraisals business?
What software and data access did Newmark secure from Altus with the deal?
How will the acquisition affect Newmark's Valuation & Advisory services in Canada?
Who will lead Newmark's Canadian valuation team after the acquisition of Altus' unit?
