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Altus Group Ltd
Symbol AIF
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Close 2015-03-06 C$ 21.02
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Altus Group's Argus releases Argus Developer 7.0

2015-03-09 09:06 ET - News Release

Mr. Michael Commons reports

ARGUS SOFTWARE LAUNCHES ARGUS DEVELOPER 7 TO MANAGE DEVELOPMENT PROJECTS FROM INCEPTION TO DELIVERY

Argus Software Inc., a subsidiary of Altus Group Ltd., has launched Argus Developer 7.0. By combining the project modelling and finance structuring capabilities of Argus Developer with the budgeting functionality of Developer Budget, Argus has created the commercial real estate industry's most comprehensive single platform to model, forecast, manage, analyze and report on development project cost and cash flows from the initial feasibility study through delivery.

"Developer 7 is key to managing the entire development life cycle in one intuitive and user-friendly platform. It increases transparency of development ventures by delivering improved visibility into a project's performance, and provides decision makers the confidence to know they are making the most informed and up-to-date investment decisions possible," said Mike Abramsky, president of Argus Software.

"Our clients are continually seeking to manage cost and reduce the risk of complex developments, from project inception and feasibility, through to planning, execution and completion. Developer 7 facilitates good decision making through accurate feasibility analysis, sensitivity and scenario analysis, and ongoing cost control based on actuals," said Michael Commons, senior executive vice-president, cost consulting and project management, Altus Group.

As a universal platform to support commercial real estate participants from inception through delivery on development projects, Developer 7 allows users to:

  • Define the project -- Model any type of property development and critically assess the financial feasibility of projects by producing discounted cash flow reports with calculated internal rate of return and net present value in less time, and with reduced risk of error than using spreadsheets;
  • Understand the impact of investment structures -- Layer an unlimited number of debt and equity structures, including complex equity return models with waterfall return structures and internal rate of return look-backs. Developer 7 provides investors with a transparent understanding of returns throughout the development process via sophisticated reports and summaries that are generated at the click of a button;
  • Execute the project -- Integrate key performance indicator updates with actuals and accounting systems, enabling greater control of projects via on the spot reforecasting and variance analysis, while providing the ability to easily identify potential cost overruns or efficiencies. The integrated database functionality also delivers a centralized repository of project data, ensuring secure version control and faster user access to data.

"Argus Developer presents data in a format that is industry tried and tested. We are able to much more quickly make strategic and informed decisions on whether a development project is viable. Argus Developer has become a frequently used critical tool for us," said Robert Alvaro, general manager of property at Rivergum Homes, a leading integrated building and land development company in Australia.

Argus also announces that ITAM, one of Mexico's pre-eminent institutions of higher learning and a top-five ranked business school in Latin America, has adopted Argus Developer as its sole platform for all courses and classwork related to its MDI program (master of real estate development). Students will submit classwork for feasibility studies of proposed real estate developments using Argus Developer software, which replaces all spreadsheet-based models.

"Spreadsheet-based modelling is increasingly becoming antiquated in the commercial real estate industry. Therefore, as part of our commitment to ensure that our graduates are ready to be future leaders within the industry, it made perfect sense to adopt Argus Developer as the platform through which we train our students," commented Jorge Castanares, director of the MDI program of ITAM.

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