04:27:51 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Altus Group Ltd
Symbol AIF
Shares Issued 29,062,653
Close 2014-07-23 C$ 22.62
Market Cap C$ 657,397,211
Recent Sedar Documents

Globe says Altus Group snaps up RealNet Canada

2014-07-24 09:14 ET - In the News

The Globe and Mail reports in its Thursday edition Altus Group ($22.62) has scooped up one of the leading sources of data on the closely watched Toronto condo market. The Globe's Tara Perkins writes Altus Group provides advice to the commercial real estate industry, including owners of office towers and factories. It has struck a deal to buy RealNet Canada, a firm that gathers its own data on the commercial market but also researches the construction and sale of new homes and condos in Toronto. The deal illustrates the demand for information about Toronto's condo market. Local real estate boards and the Canadian Real Estate Association track information on sales of existing houses and condos over the Multiple Listing Service. However, market players do not want to depend on the Realtors' lobby group for their data. One of Altus's growth initiatives recently has been to work the residential space. Altus has been tracking and selling some data on the residential markets in Calgary and Montreal, but it lacked data on Toronto. RealNet tracks information such as the price paid for land, sales and prices of new houses and condos, and the total inventory of condos that are planned, under construction and complete.

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