Altus Group Limited has agreed to sell its Canadian Appraisals business to Newmark Group, Inc., marking a significant strategic repositioning for the Toronto-based software and data analytics firm. The transaction is expected to close on March 1, 2026, subject to customary closing conditions and regulatory approvals.
As part of the transaction structure, Newmark has secured a multi-year software licensing agreement granting access to Altus' ARGUS Intelligence platform alongside its proprietary data offerings. This arrangement allows Newmark to leverage Altus' established technology infrastructure while maintaining continuity for clients requiring integrated appraisal and valuation solutions across North America.
Colin Johnston, who previously served as President of Altus' Canadian Appraisals division, will transition to lead Newmark's Valuation & Advisory Services operations in Canada. The leadership continuity is expected to facilitate a smooth operational transition and preserve client relationships during the integration process.