The proposed merger, officially announced yesterday, of Altus Group Income Fund and Integra Realty Resources will likely be a strong move forward for both parties. \u00a0Altus, a dominant international real estate consulting entity, has entered into a non-binding letter of intent to acquire Integra for a consideration expected to consist of cash and equity, according to a prepared statement, with some of the cash raised through bank financing. \u00a0Though Altus is somewhat larger, the two firms are roughly similar. Altus has 1,100 employees in 31 offices in 23 Canadian cities and six offices in the U.K. Founded in 1999, Integra has 800 employees in 55 offices, all in the U.S., and is the United States\u2019 largest independent real estate valuation and counseling firm. \u00a0Gary DeClark, managing director of the Integra Chicago Metro office, told CPN that the merger, which he emphasized is not yet a done deal, \u201cwill be beneficial for everybody\u2026. We bring to them the U.S., and they bring to us the international.\u201d \u00a0A potentially even bigger benefit for Integra from the proposed merger, DeClark said, would be better access to capital, specifically for information technology. \u201cAs the valuation business expands, the IT needs are substantial.\u201d \u00a0Otherwise, he suggested, the post-merger would be largely operations as usual for Integra offices across the country. \u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
The proposed merger, officially announced yesterday, of Altus Group Income Fund and Integra Realty Resources will likely be a strong move forward for both parties. \u00a0Altus, a dominant international real estate consulting entity, has entered into a non-binding letter of intent to acquire Integra for a consideration expected to consist of cash and equity, according…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003795911","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n