Photo: Ken Teegardin/Flickr
Altus Group, a commercial real estate consulting agency specializing in data, has announced today that it’s acquired RealNet Canada, a nearly 20-year old market-intelligence firm known for its commercial and new home databases and comprehensive real estate reports.
In an email, George M. Carras, President of RealNet Canada, stated, “Everything you have come to value and expect from RealNet will remain the same while we enhance our ability to work with you in new ways to help better manage risk and better position your business.”
RealNet will join Altus Group’s Research, Valuation and Advisory (RVA) division, a move that is meant to strengthen the company’s data and market research offerings.
Altus Group is a publicly-traded company with offices in Canada, the United States, the United Kingdom, Australia and Asia Pacific. Their takeover of RealNet is a sign that real estate data is a big business.
We’ll be updating the story as more information becomes available.