This article is from the Australian Property Journal archive
COMMERCIAL real estate asset and fund intelligence provider Altus Group is acquiring the business of Forbury, an Asia-Pacific commercial real estate valuation software provider.
New Zealand-headquartered Forbury’s cloud-based solutions provide valuation tools tailored for the APAC market to help users looking to refinance, refurbish, reposition or divest their commercial real estate assets.
Gordon Richardson, president of Altus’ APAC analytics division, said the addition of Forbury’s widely adopted valuation solution bolsters Altus’ global valuation offer in the growing APAC region.
“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.”
Steve Surridge, who founded the company 20 years ago, said, “This is an exciting milestone for Forbury and our team”.
“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 1st December.
