Jim Hannon and Richard Sarkis
CEO at Altus Group; co-founder and executive chairman at Altus Group
A stalwart of global real estate technology analytics under Jim Hannon, Altus Group is fighting the good fight to digitize the historically slow-to-modernize commercial real estate industry.
The Toronto-based proptech giant is working to bring commercial real estate’s largely fragmented asset and fund intelligence up to speed with other established industries such as financial services. The challenge is turning often disconnected and unstructured data into actionable information. Single-specialty providers and their technology have traditionally serviced this need, but that can lead to a disconnect between data sets and workflows, according to Altus Group.
The results have proven out for the company, as it has experienced double-digit revenue growth since 2020, when Hannon joined as president of its analytics division. He became CEO on April 1, 2022.
In the last couple of years, Altus has fortified its data platform through organic investments and strategic tech acquisitions. These include Reonomy, led by co-founder Richard Sarkis, and StratoDem Analytics, all in an effort to connect asset-level data on a common platform, along with advanced analytics to extract intelligence for predictive and prescriptive foresight.
In late 2022, Altus delivered the first phase of its performance platform architecture. It’s aimed at helping clients gain a competitive edge by quickly accessing, integrating and analyzing data to enable faster and better decisions.
Altus Group’s continued digital evolution seeks to build on its technology-powered real estate valuations for CRE investments and loans, as well as its expertise in global property tax and business rates liabilities.
Boasting a $2 billion market cap, Altus has become “No. 1 in providing valuations via technology advisory services for commercial real estate,” among its many offerings, Hannon told Commercial Observer in 2022.
