Altus Group Limited (Altus) recently announced it terminated its efforts to acquire Situs Group LLC’s (Situs) commercial real estate valuation and advisory services business, REVS. In response, FTC Deputy Director of the Bureau of Competition, Kyle Mach, issued the following statement:
“We welcome the news that Altus has abandoned its attempted acquisition of REVS, its closest rival for valuation management services. These services touch on nearly all commercial real estate in the United States by ensuring pension and other fund investors have near-to real-time insight into the value of their commercial real estate assets.
Competition among independent valuation management services providers is critical to ensure the integrity of information people rely on to make investment decisions. The acquisition threatened to limit this competition. By abandoning this deal, the two firms will continue to compete to drive innovation and improve accessibility for emerging technologies. Many thanks to the entire FTC team for their work on this matter.”
Official news published at https://www.ftc.gov/news-events/news/press-releases/2024/05/statement-regarding-termination-altus-groups-proposed-acquisition-situs-groups-commercial-real
