Canada’s Altus Wants to Save Landlords Millions on Property Tax
- CEO plans to double revenue with acqusitions in U.S., U.K.
- Shares in real estate data provider outpacing bigger peers
Altus is now the No. 2 provider of real estate tax advisory services in the U.K.
Photographer: Simon Dawson/BloombergAltus Group Ltd. plans to double its revenue to about C$800 million ($608 million) in the next five years as the Canadian real estate data provider expands further into property-tax consulting with acquisitions in the U.S. and U.K.
Altus could spend as much as $100 million on a single purchase as it adds taxes to services such as portfolio valuation and cost tracking for clients from Brookfield Asset Management Inc. to Canada Pension Plan Investment Board. Chief Executive Officer Bob Courteau has already approached the five biggest companies in the U.S., including the property tax unit of Texas-based Ryan LLC, the largest in North America. Although so far rebuffed, he’s optimistic.