Newmark Closes Acquisition of Altus Group's Canadian Appraisals Business, Adding 140 Professionals

Newmark, Inc. (Nasdaq: NMRK) has closed its acquisition of Altus Group's Canadian Appraisals business, the firm announced March 2, 2026, adding approximately 140 professionals and more than 3,000 clients to its commercial real estate advisory platform.

The acquisition expands Newmark's presence across Canada through eight offices, with locations in Vancouver, Calgary, Toronto, Montreal, Halifax, and St. John's. The acquired unit serves institutional funds, real estate investment trusts (REITs), lenders, developers, property owners, and public sector entities.

Leadership Appointment Anchors Canadian Valuation Platform

As part of the transaction, Newmark named Colin Johnston, former President of Altus Group's Canadian Appraisals business, as Head of Valuation & Advisory Services, Canada. Johnston brings more than 30 years of experience in the real estate sector and is regarded as one of the industry's preeminent valuation professionals.

Newmark's Broader Platform

Newmark describes itself as a commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers. For the twelve months ended December 31, 2025, the firm generated revenues of nearly $3.3 billion. As of that date, Newmark and its business partners operated from approximately 175 offices with more than 9,300 professionals across four continents.

Transaction Details

Financial terms of the acquisition were not disclosed. The transaction closed on March 2, 2026. Newmark noted in its announcement that statements regarding future business results and financial position are subject to risks and uncertainties that could cause actual outcomes to differ materially from current expectations.