Altus Group Acquires Forbury Property Valuation Solutions in APAC Region
Altus Group Limited (Altus), a leading provider of asset and fund intelligence for commercial real estate (CRE), has announced its definitive agreement to acquire the business of Forbury Property Valuation Solutions Limited (Forbury), a CRE valuation software provider in the Asia Pacific (APAC) region. Forbury's cloud-based solutions offer tailored valuation tools for the APAC market, empowering users to make informed decisions regarding refinancing, refurbishing, repositioning, or divesting their CRE assets. With over a decade of market trust and adoption across various asset classes, Forbury's flagship Forbury Commercial product is widely recognized for commercial property valuation in the APAC region.
Strategic Expansion and Enhanced Valuation Offer
Altus' acquisition of Forbury's widely adopted valuation solution strengthens its global valuation offer in the growing APAC region. This strategic commitment to Australia and the broader APAC market addresses specific customer requirements through market-specific valuation capabilities. By joining forces with Forbury's experienced team, Altus aims to enhance the value it brings to clients.
Accelerating Growth and Complementary Valuation Tools
Forbury's founder, Steve Surridge, views this acquisition as an exciting milestone for the company. With Altus' global valuation platform and ample resources, Forbury's growth can be accelerated, building upon its existing success. Forbury's valuation tools will serve as a strong complement to Altus' existing APAC-focused offerings for CRE investors, developers, lenders, proprietors, and advisors.
The transaction is expected to be completed around December 1, 2023.
About Altus Group
Altus Group is a leading provider of asset and fund intelligence for commercial real estate. Through a connected platform of industry-leading technology, advanced analytics, and advisory services, Altus delivers intelligence as a service to its global client base. Trusted by the largest CRE leaders, Altus' capabilities help investors, developers, proprietors, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle. With approximately 3,000 employees across North America, EMEA, and Asia Pacific, Altus Group is headquartered in Toronto.
For more information about Altus Group, please visit altusgroup.com.
The Impact of Altus Group's Acquisition on New Businesses
The recent acquisition of Forbury Property Valuation Solutions by Altus Group Limited, a leading provider of asset and fund intelligence for commercial real estate, presents a significant shift in the APAC region's commercial real estate landscape. This move is likely to have considerable implications for new businesses in the region.
Enhanced Valuation and Strategic Expansion
Altus' acquisition of Forbury's valuation solution, known for its wide adoption in the APAC region, strengthens its global valuation offer. This strategic expansion into Australia and the broader APAC market could pave the way for new businesses to access more advanced, market-specific valuation capabilities. This could potentially streamline their decision-making processes regarding refinancing, refurbishing, repositioning, or divesting their commercial real estate assets.
Growth Acceleration and Complementary Tools
With Altus' global valuation platform and resources, Forbury's growth is set to accelerate, building upon its existing success. This growth acceleration, coupled with Forbury's valuation tools that complement Altus' existing APAC-focused offerings, could provide new businesses with more comprehensive and efficient solutions for their commercial real estate needs. As such, this acquisition could significantly enhance the prospects and performance of new businesses in the APAC region's commercial real estate sector.