Altus Group is enhancing its valuation offering with the acquisition of Situs Group’s commercial real estate valuation and advisory services business for $225m (€211m).

Altus said the acquisition of REVS includes the firm’s Valuation Management System and the Daily Valuation System technology platforms, as well as related appraisal and consulting services such as portfolio monitoring and reporting, portfolio valuations, pension fund monitoring and reporting.

The REVS team of approximately 350 people will join Altus as part of the acquisition.

Altus is a provider of asset and fund intelligence for commercial real estate. REVS offers valuation management solutions to commercial real estate institutional investors in the US, including pension funds, insurance companies, investment managers and banks.

The deal enhances client value by embedding complementary solutions in key client workflows and opening up new avenues for advanced analytics applications, Altus said. It also adds valuable technology assets with expansive valuation datasets that are essential to Altus’s analytics scaling strategy.

Jim Hannon, CEO of Altus Group, said: “Current market complexity and increasing financial reporting demands drive the need for high quality and timely valuations and data-driven insights for CRE investors and operators.

“We are excited to have the highly regarded REVS team join the top talent at Altus Group. Collectively we will expand the scope of valuation offers, including advanced analytics, that we deliver to clients.”

Rick Kalvoda, president of analytics for the Americas region at Altus Group, said: “The combination of our market expertise and expansive valuation datasets will create best-in-class valuation intelligence. 

“It will elevate the insights and transparency we bring to clients to help them drive asset performance and manage risk.”

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