CRE Software Updates, Tips & Advice Blog - Forbury

Altus Group to acquire APAC-focused valuation software provider Forbury

Written by Forbury | 01/12/2023 2:05:52 AM

November 08, 2023 | Camilla Bartosiewicz and Elizabeth Lambe | 4 minute read

Altus Group Limited (ʺAltus” or “the Company”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), announced today that it signed a 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 provide valuation tools tailored for the APAC market to help users make informed decisions on when best to refinance, refurbish, reposition or divest their CRE assets. Trusted by the market for over a decade across various asset classes, its flagship Forbury Commercial product is widely adopted for commercial property valuation in the APAC region.

“The addition of Forbury’s widely adopted valuation solution bolsters Altus’ global valuation offer in our growing APAC region,” said Gordon Richardson, President of Altus’ APAC Analytics division. “With this acquisition, we are solidifying our strategic commitment to Australia and the broader APAC region, while also addressing a variety of customer requirements through market-specific valuation capabilities. We’re looking forward to joining forces with Forbury’s 34 employees to enhance the value we bring to clients.”

“This is an exciting milestone for Forbury and our team,” added Steve Surridge who founded the company twenty years ago. “With a global valuation platform, Altus is ideally suited and well-resourced to help accelerate Forbury’s growth and build on our success. Forbury’s valuation tools will be a strong complement to Altus’ existing APAC-focused offers for CRE investors, developers, lenders, proprietors, and advisors.”

The transaction is expected to close on or about December 1, 2023.

 

Key contacts

Camilla Bartosiewicz
Chief Communications Officer
Altus Group

Elizabeth Lambe
Director, Global Communications
Altus Group

About Forbury

Forbury provides Commercial Real Estate Valuation software to thousands of property professionals globally. Built by financial modelling experts, the Forbury products have been tested in market for over 15 years to become the preferred valuation and investment management tool across Australasia.

About Altus Group

Altus Group is a leading provider of asset and fund intelligence for commercial real estate. We deliver intelligence as a service to our global client base through a connected platform of industry-leading technology, advanced analytics, and advisory services.

Trusted by the largest CRE leaders, our capabilities help commercial real estate investors, developers, proprietors, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle.

Altus Group is a global company headquartered in Toronto with approximately 3,000 employees across North America, EMEA and Asia Pacific. For more information about Altus Group (TSX: AIF) please visit altusgroup.com.

Forward looking information

Certain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information, including statements relating to expected benefits of the acquisition and the closing of the acquisition (including the expected timing of closing), as well as statements relating to the Company’s business and strategies.

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