Altus Group, a provider of commercial real estate intelligence, has announced that it has signed a definitive agreement to sell its Development Advisory business to an affiliate of Newmark. The transaction, which is expected to close on September 1, 2026, includes Altus’ Development Advisory operations in North American and Asia Pacific.
Newmark has expanded its multi-year ARGUS Intelligence agreement with Altus Group to include ARGUS Assist, the AI-powered conversational interface.
Mike Gordon, Chair and CEO of Altus, said, “Having already entrusted our Canadian Appraisal business to Newmark in March of 2026, we are confident the Development Advisory team and capabilities will continue to thrive under their ownership. For Altus, it sharpens our focus on our market leading valuation solutions, which we’re enhancing with AI, analytics, data and market experts to ensure our clients always have the information to make better real estate decisions.”
Peter Trollope, Newmark Global Head of Occupier Solutions, said, “Development advisory is increasingly critical as clients navigate more complex decisions around capital investment, project delivery and the performance of their real estate. The Altus business brings cost management and advisory expertise in infrastructure and large-scale development, diversifying our project management business from both a client and asset perspective and providing the foundation for a global cost management practice.”
Trollope added, “With talent across major markets in Canada, the U.S., Australia and Thailand, the addition reflects our commitment to targeted expansion and strategic investment in the expertise our clients need.”
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