Provides Developers Complete Feasibility and Budget Tracking Solution for Real Estate Development Projects
TORONTO, ONTARIO--(Marketwired) - ARGUS Software Inc. ("ARGUS"), a subsidiary of Altus Group Limited ("Altus Group") (TSX:AIF) and the leading global provider of software solutions for the commercial real estate industry, announces the launch of ARGUS Developer 7.0 ("Developer 7"). By combining the project modelling and finance structuring capabilities of ARGUS Developer with the budgeting functionality of Developer Budget, ARGUS has created the commercial real estate ("CRE") industry's most comprehensive single platform to model, forecast, manage, analyze and report on development project cost and cash flows from the initial feasibility study through delivery.
"Developer 7 is key to managing the entire development lifecycle in one intuitive and user-friendly platform. It increases transparency of development ventures by delivering improved visibility into a project's performance, and provides decision-makers the confidence to know they are making the most informed and up-to-date investment decisions possible," said Mike Abramsky, President of ARGUS Software.
"Our clients are continually seeking to manage cost and reduce the risk of complex developments, from project inception and feasibility through to planning, execution and completion. Developer 7 facilitates good decision making through accurate feasibility analysis, sensitivity and scenario analysis, and ongoing cost control based on actuals," said Michael Commons, Senior Executive Vice President, Cost Consulting and Project Management, Altus Group.
As a universal platform to support CRE participants from inception through delivery on development projects, Developer 7 allows users to:
- Define the project - Model any type of property development and critically assess the financial feasibility of projects by producing discounted cash flow reports with calculated Internal Rate of Return ("IRR") and Net Present Value ("NPV") in less time and with reduced risk of error than using spreadsheets.
- Understand the impact of investment structures - Layer an unlimited number of debt and equity structures including complex equity return models with waterfall return structures and IRR lookbacks. Developer 7 provides investors with a transparent understanding of returns throughout the development process via sophisticated reports and summaries that are generated at the click of a button.
- Execute the project - Integrate Key Performance Indicator ("KPI") updates with actuals and accounting systems, enabling greater control of projects via on-the-spot reforecasting and variance analysis, while providing the ability to easily identify potential cost overruns or efficiencies. The integrated database functionality also delivers a centralized repository of project data ensuring secure version control and faster user access to data.
"ARGUS Developer presents data in a format that is industry tried and tested. We are able to much more quickly make strategic and informed decisions on whether a development project is viable. ARGUS Developer has become a frequently used critical tool for us," said Robert Alvaro, General Manager of Property at Rivergum Homes, a leading integrated building and land development company in Australia.
ARGUS also announces that ITAM, one of Mexico's preeminent institutions of higher learning and a top five ranked business school in Latin America has adopted ARGUS Developer as its sole platform for all courses and classwork related to its MDI Program (Master of Real Estate Development). Students will submit classwork for feasibility studies of proposed real estate developments using ARGUS Developer software which replaces all spreadsheet-based models.
"Spreadsheet-based modelling is increasingly becoming antiquated in the CRE industry. Therefore, as part of our commitment to ensure that our graduates are ready to be future leaders within the industry, it made perfect sense to adopt ARGUS Developer as the platform through which we train our students," commented Jorge Castañares, Director of the MDI Program (Master of Real Estate Development) of ITAM.
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About ARGUS Software Inc.
ARGUS Software is the leading provider of software and solutions for analyzing and managing the value of real estate investments worldwide. ARGUS Software has a global client base and has been dedicated to providing solutions to the commercial real estate industry for over 25 years. The ARGUS Software portfolio includes industry-standard products, including ARGUS Enterprise -- the most open and integrated platform for valuation, budgeting and asset management solutions.
About Altus Group Limited
Altus Group Limited is a leading provider of independent advisory services, software, and data solutions to the global commercial real estate industry. All of our five core practices -- Research, Valuation and Advisory, ARGUS Software, Property Tax Consulting, Cost Consulting and Project Management, and Geomatics -- embody and reflect decades of experience, a broad range of expertise, and leading edge technology. Our offerings empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world's largest real estate industry participants, spread across a broad variety of sectors.
The Company is focused on creating sustainable shareholder value that generates long-term returns by targeting organic and accretive growth while providing quarterly dividend payments of $0.15 per share. Altus Group's securities are traded on the TSX under the symbols AIF and AIF.DB.A.
For more information on Altus Group, please visit: www.altusgroup.com.
Certain information in this press release may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, expectations with respect to the success of ARGUS Developer 7 in the market. The forward-looking information reflects Altus Group's and management's current expectations, beliefs and assumptions regarding future events and operating performance and is based on information currently available to management. The assumptions made in making certain projections include, but are not limited to, the success of product development and launch initiatives, the supply and demand for ARGUS Software's products and services and the execution of certain business strategies. Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors which could cause actual results, performance or achievements of Altus Group to differ materially from any results, performance or achievements expressed or implied by such forward-looking information, including but not limited to: the general state of the economy; competition in the industry; ability to respond to technological change and develop products on a timely basis; protection of intellectual property or defending against claims of intellectual property rights of others; and performance of obligations/maintenance of client satisfaction; as well as those described in Altus Group's publicly filed documents, including the Annual Information Form (which are available on SEDAR at www.sedar.com). Given these risks, uncertainties and other factors, investors should not place undue reliance on forward-looking information as a prediction of actual results.
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Altus Group Limited
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