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Canadian real estate giant acquires EstateMaster

Canadian real estate giant acquires EstateMaster

Ben Smits

A Canadian-listed company that services the global commercial real estate industry has acquired Australian-based property group EstateMaster.

Firms: Norton Rose Fulbright (Altus Group Limited); K&L Gates (Estate Master Group Holdings Pty Limited)

Deal: Altus Group Limited (Altus Group) has been advised on the acquisition of 100 per cent of the issued capital in Estate Master Group Holdings Pty Limited (EstateMaster).

Value: Undisclosed

Area: M&A

Key players: The Norton Rose Fulbright team was led by partner Ben Smits (pictured), with assistance from partner David Cross and associate Mitchell Kelly.

The K&L Gates team was led by corporate and transactional partner Russell Lyons, with special counsel Rohan Purdy and lawyer Marie Zuo.

Deal significance: Altus Group is a Canadian-listed company and a provider of commercial real estate services, software and data solutions to the global commercial real estate industry. It has a network of more than 70 offices worldwide, including in Australia, Canada, UK, US and Asia.

EstateMaster is an Australian-based property development feasibility and management software provider. The company delivers a range of property development, valuation, investment and management software to more than 20,000 property professionals and over 1,000 firms across the Asia Pacific, Africa, Europe, India, the Middle East, the UK and US.

Altus Group chief executive officer Robert Courteau said the acquisition of EstateMaster broadens his company’s product offerings with “software solutions complementary to our ARGUS Developer product, while adding market share in our growth regions, including Australia and the Middle East”.

“Their established track record of growth, combined with their impressive team and solid industry reputation, will add value to our growth initiatives.”

Norton Rose Fulbright partner Ben Smits said the firm was delighted to assist Altus Group on an acquisition that will complement its existing client offering.

“The deal has come at a time where Altus Group, as an innovative and dynamic market player, can harness the considerable market interest in property, construction and related services globally,” Mr Smits said.

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