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FINWIRES

Altus to Sell Development Advisory Business to Newmark

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Altus Group (AIF.TO) on Tuesday said it signed a definitive agreement to sell its development advisory business to an affiliate of Newmark Group, concluding Altus' planned divestitures for 2026.

The sale allows the Altus to sharpen its focus on valuation solutions, the commercial real-estate intelligence provider said. Deal value was not disclosed.

The transaction is expected to close on Sept. 1 and includes Altus' development advisory operations in North American and Asia Pacific, the company said.

In connection with the sale, Newmark agreed to expand its multi-year ARGUS Intelligence agreement with Altus to include the artificial intelligence-powered ARGUS Assist interface.

The company's shares closed up C$0.01 to C$46.82 on the Toronto Stock Exchange.

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