ENGIE

Altus Group acquires RealNet Canada

Wednesday, July 30, 2014

Altus Group Limited, a provider of real estate consulting and advisory services, software and data solutions, recently announced its acquisition of RealNet Canada Inc., a privately owned Canadian real estate information services company. RealNet’s founder and president, George Carras, and his team of 40 professionals will join Altus Group’s Research, Valuation and Advisory group in Canada.

“We are very excited about the acquisition of RealNet and having George Carras, a prominent industry leader, join our management team,” says Bob Courteau, CEO, Altus Group. “We have a long working history with RealNet and believe that the formal integration of our substantial assets will benefit all of our clients and each of our business units. The acquisition broadens Altus Group’s Canadian full-service offering, enhances its data and market research revenue stream and furthers the Company’s strategy of building out its data solutions.”

Through the acquisition, RealNet will help to strengthen the company’s existing multi-family and condominium products as well as expand market data and research offerings. A prominent player in the Canadian real estate landscape on both a commercial and residential level, RealNet is involved in approximately 70 per cent of market activity decisions. Altus Group hopes to use this decision-making power to the advantage of both parties.

“As a trusted source for independent property market information in Canada, RealNet has achieved a leading position in the market,” says George Carras, president, RealNet. “Becoming part of Altus Group’s full service platform will allow us to create more value for clients. Most importantly, Altus Group shares our values and commitment to building a better real estate market by enhancing transparency, improving market information flow and offering independent insights.”