About Altus Group

Altus Group Limited provides software, data solutions and independent advisory services to the global commercial real estate (CRE) industry. The company’s clients include many of the world’s largest CRE industry participants. Segments The company operates through two core business segments, Altus Analytics and CRE Consulting. Altus Analytics This segment consists of revenues from software sold under the ARGUS brand and from data solutions that are made available to clients through the company’s Appraisal Management solutions, as well as through data subscription products. Altus Analytics clients predominately consist of CRE asset and investment management firms, including large owners, managers and investors of CRE assets and funds, as well as other industry participants, including service providers, brokers, and developers. The company’s globally sold ARGUS software solutions are among the most recognizable in the CRE industry. Its cloud-enabled product stack for global CRE asset and investment management comprises end-to-end integrated software solutions that provide visibility at the asset, portfolio and fund levels to help clients enhance performance of their CRE investments. The company’s flagship ARGUS Enterprise (AE) software is the leading global solution for CRE valuation and portfolio management, and is widely recognized as the industry property valuation standard in key CRE markets. AE’s suite of functionality enables organizations to manage and predict the performance of their CRE assets throughout the investment cycle supporting property valuations, investments, portfolios and budgeting. Since 2019, the company has been offering AE on a cloud platform while continuing to support the on-premise software. The cloud platform leverages the AE calculation engine and provides clients with cloud-based infrastructure; new analytics capabilities (such as benchmarking functionality); integrations with other ARGUS products, storage, access and back-up of AE files; and access to new ARGUS applications (such as ARGUS Acquire, a deal management solution for CRE acquisitions, and ARGUS API, an application programming interface). Other ARGUS products include ARGUS Taliance (a cloud-based fund solution for alternative investment firms), ARGUS Voyanta (a cloud-based data management solution), and ARGUS Developer and ARGUS EstateMaster (software solutions for development feasibility analysis). In addition to standard technology services related to education, training and implementation, the company offers strategic advisory and managed services for real estate organizations’ front-to-back-office strategies, processes and technology through One11 Advisors, LLC (One11). Fueled by the company’s ARGUS software solutions, it provides information services on a global basis through its Appraisal Management solutions and data subscription products. The company’s global Appraisal Management solutions combine data and analytics functionality with a managed service delivery to enable institutional real estate investors to perform quarterly performance reviews, benchmarking and attribution analysis of their portfolios. Through these offerings, the company provides an end-to-end valuation management solution for its institutional clients, providing independent oversight and expertise while leveraging the company’s data analytics platform. The company primarily offers Appraisal Management solutions in the U.S. The company is expanding into Europe and the Asia Pacific. The company’s Appraisal Management clients primarily consist of open and closed real estate funds, including large pension funds. Altus Analytics also includes a Canadian data subscription product, Altus Data Studio, which provides comprehensive real estate information on the Canadian residential, office, industrial and investment markets with unique data visualization capabilities. The company’s Canadian data covers new homes, investment transactions and commercial market inventory in key markets; and provides intelligence on the national housing market and consumer home buying and borrowing patterns. Prior to 2020, the majority of the company’s customers had licensed its AE software products on an on-premise basis, and had either paid on perpetual terms with ongoing maintenance, or on subscription terms. As of the start of 2020, the company’s Altus Analytics software products had been sold only on a subscription-based model. The company’s software subscription agreements vary in length between one to five years, and the subscription fee primarily depends on the number of users and the applications deployed. The company enjoys industry leading retention rates for its AE software. In addition to software subscriptions, the company’s software services are charged primarily on a time and materials basis, billed and recognized monthly as delivered. The company’s Appraisal Management teams also engage to perform due diligence assignments in connection with CRE transactions. The company’s Canadian data products are sold on a subscription basis. Commercial Real Estate Consulting This segment consists of the Property Tax, and the Valuation and Cost Advisory business units. Through the company’s various practice areas, it is well-equipped to serve clients with an end-to-end solution that spans the life cycle of CRE assets - from feasibility, development, acquisition, management and disposition. The company’s professionals possess extensive industry, market and asset-specific knowledge that contribute to its proprietary internal databases that contribute to successful client outcomes. The company has long-standing relationships with leading CRE market participants - including owner operators, developers, financial institutions, and various CRE asset holders and investors. The company’s largest revenue contributor to CRE Consulting is its Property Tax business, which operates in Canada, the U.S. and the U.K. The company’s core real estate property tax services include assessment reviews, management and appeals, as well as in the U.S., personal property and state and local tax advisory services. Valuation services, which are predominantly provided in Canada, consist of appraisals of real estate portfolios, valuation of properties for transactional purposes, due diligence and litigation and economic consulting. The company’s Cost Advisory practice, offered in both the private and public sectors in Canada and the Asia Pacific, provides expert services in the areas of construction feasibility studies, budgeting, cost and loan monitoring and project management. Strategy The company’s 2021 strategic priorities consist of accelerating the global adoption of ARGUS Cloud and increasing the proliferation of its applications across clients’ workflows and the CRE value chain; expanding into the CRE debt markets through a combination of organic and acquisitive initiatives; expanding its data capabilities and developing new areas of opportunities; continuing to build market leadership in Property Tax; and enhancing its go-to-market strategies across the company. Acquisitions In December 2020, the company acquired certain operating assets of Property Tax Assistance Company Inc. (PTA). PTA is a U.S. property tax consulting firm based in California that provides personal property and real estate tax services for commercial, industrial, and multifamily properties. History Altus Group Limited was founded in 2005. The company was incorporated in 2011.