Newmark Acquires Altus Group's Development Advisory Business, Adding 335 Professionals Across North America and Asia Pacific

Newmark Group, Inc. (Nasdaq: NMRK) has closed its acquisition of the Development Advisory business of Altus Group Limited, the companies announced Sept. 1, 2026, bringing approximately 335 professionals across North America and Asia Pacific into Newmark's Project Management business.

The acquired unit is being integrated into Newmark's Occupier Solutions platform, where it will expand the firm's capabilities in development feasibility, project strategy, cost and risk analysis, and advisory services around complex real estate development decisions. The professionals serve owners, investors and developers across the development lifecycle.

Second Altus Acquisition in Six Months

The transaction is the second time in 2026 that Newmark has acquired a business from Altus Group. In March 2026, Newmark closed its purchase of Altus' Canadian Appraisals business, adding approximately 140 professionals across eight Canadian offices — including Vancouver, Calgary, Toronto, Montreal, Halifax and St. John's — along with more than 3,000 clients to Newmark's Valuation & Advisory platform. That operation had been in business for more than 25 years and was one of Canada's largest commercial real estate appraisal practices.

Altus announced the Development Advisory sale on Aug. 4, 2026, with closing confirmed on Sept. 1, 2026.

Taken together, the two acquisitions represent a deliberate expansion by Newmark into people-intensive advisory services, with the Canadian appraisals unit slotted into Valuation & Advisory and the Development Advisory team folded into Project Management within Occupier Solutions.

Strategic Rationale: Recurring Revenue and Full-Lifecycle Advisory

Newmark has framed both Altus acquisitions as part of a broader effort to build recurring, advisory-driven revenue streams that are less dependent on transaction volumes. At the time of the Canadian appraisal deal, the firm described the acquisition as reflecting its "continued focus on expanding recurring, advisory-driven revenue streams globally."

For the Development Advisory business specifically, Newmark has highlighted that the Altus unit brings cost management and advisory expertise in infrastructure and large-scale development, with the potential to provide the foundation for a global cost management practice. The addition diversifies Newmark's Project Management business by client type and asset class.

With valuation, development feasibility, project strategy, cost planning and risk analysis now housed within the same platform, Newmark is positioned to serve clients from underwriting and feasibility through project delivery — a full-lifecycle advisory capability that has become more valuable as capital allocation decisions face greater scrutiny in the current development environment.

For the twelve months ended June 30, 2026, Newmark generated revenues of more than $3.6 billion. As of that date, the firm and its business partners operated from more than 195 offices with more than 10,000 professionals across four continents.

Altus Group's Pivot Toward Data and Analytics

For Altus Group, the Development Advisory sale continues a portfolio simplification strategy the company has pursued throughout 2026. When announcing the Canadian appraisals divestiture, Altus CEO Mike Gordon said the transaction "reflects our ongoing efforts to simplify our portfolio and sharpen our focus on core analytics capabilities."

Altus has described itself as a provider of commercial real estate intelligence and has indicated it intends to concentrate on analytics, software and data offerings — including its ARGUS platform — rather than people-intensive professional services businesses. In both divestitures, Altus noted that its data and technology products would continue to serve clients within Newmark's ecosystem.

Market Context

The acquisition comes at a moment when ground-up development is more difficult to underwrite, capital is more selective, and owners and investors are placing greater emphasis on cost, feasibility and risk counsel as part of their decision-making processes. Development advisory services — which help clients assess whether and how to proceed with complex projects — have taken on added importance in that environment.

By embedding Altus' Development Advisory professionals within its Occupier Solutions platform, Newmark is expanding its ability to compete for mandates that require integrated project management and cost consulting capabilities, particularly on large-scale and infrastructure-related assignments in North America and Asia Pacific.

Sources

Newmark Closes Acquisition of Altus Group's Development Advisory Business — PR Newswire, Sept. 1, 2026