by Brianna Crandall — July 22, 2019 — Altus Group Limited, a provider of software, data solutions and independent advisory services to the global commercial real estate (CRE) industry, recently announced that it has acquired One11 Advisors, a real estate software consulting services firm.
Canada-based Altus Group says its software solutions bring clarity for asset and portfolio visibility across your business: comprehensive analysis and reporting for assets, portfolios and investments to provide complete transparency and insight. Powered by technology and data, Altus advisors provide value-added insights across the asset lifecycle: actionable analysis and advisory including valuation, financial due diligence, property tax planning and appeals, and development feasibility and project management.
One11 is a US-based consulting services firm with offices in Chicago and New York that provides integrated advisory and managed services for real estate organizations’ front-office to back-office strategies, processes and technology. Its primary offerings include technology implementation services, as well as strategic advisory related to software solutions, information technology (IT) and process change strategies, system selection, managed services and support for software solutions. Its team of industry experts, including 18 employees along with its network of strategic advisors, brings extensive market expertise and leverages years of experience to deliver solutions to owners, builders, occupiers and operators of real estate.
What does this mean for FMs?
When asked to provide more specifics as to what this acquisition means to facilities managers (FMs), One11 co-founder Scott Morey answered:
One11 Advisors has a long history of improving real estate operations from a back office, front office, and property operations standpoint. As seasoned trusted advisors to our clients, we understand the day-to-day demands that occur in managing the infrastructure of a building and in supporting tenants. We’re focused on aligning the demands and needs of a company with their organizational, process and technology capabilities. As such, we have helped select, design and implement facility management solutions for our clients that include solutions from Angus, Building Engines, Yardi and others.
We also understand how to operate the increasingly complex technical infrastructure in buildings from a utilities, lighting, HVAC, parking, and signage standpoint with the objective of creating enterprise efficiencies while increasing the quality of services to tenants. Lastly, we have worked with real estate operators on how to directly engage with their residents / employees / consumers to provide an avenue for them to more quickly contact management while also providing meaningful analytics on what is actually happening within their properties. Given the importance of maintaining and improving ones’ facilities in today’s demanding market, it is important we both understand those demands and can help our clients successfully navigate them.
Morey also explained more about the types of data and analytics that One11 brings to Altus that are important to FMs:
One11 doesn’t specifically capture analytics for our clients but rather we help them establish data analytics strategies and the supporting infrastructure so they are able to capture them and create meaningful insights on their own. Our goal is to establish measures that are both meaningful and actionable. As such, we help our clients change their behavior, processes, and supporting technology on how they use analytics so that they institutionalize new behaviors that create and drive real value.
Carl Farrell, president of Altus Group, remarked:
One11 brings solid CRE domain expertise and skills that are required to address the complexities our larger clients are having to deal with today. Their experience with other industry applications and associated data strengthens Altus Group’s stated goals of providing more industry integration as we deliver a Cloud-based platform that will address the data and analytics needs of the industry. As the industry requests more managed services, we will be able to scale much faster as we call on the knowledge One11 have built over the last several years. All of these experiences combined with those of Altus Group provide increased value to our clients.
The One11 Advisors team, including co-founders Jim Carr and Scott Morey, will be integrated into the Altus Analytics business unit, expanding Altus’s current software consulting services.
Altus Group says its businesses Altus Analytics and Altus Expert Services reflect decades of experience, a range of expertise, and technology-enabled capabilities. The company has approximately 2,500 employees around the world, with operations in North America, Europe and Asia Pacific, and serves some of the world’s largest real estate industry participants.
