TORONTO, ONTARIO--(Marketwire - June 1, 2010) - Altus Group Income Fund ("Altus") (TSX:AIF.UN) announced today that it has completed the acquisition of Brazos Tax Group LLP ("Brazos").

This acquisition provides Altus with an increased presence in the United States through the extension of property tax services and a significant operations beachhead for future growth. Altus financed this acquisition through a combination of cash, bank financing and equity.

Fifty-one percent partners at Brazos were Ben Loughry, Donnie Sherwood, Mark Lamb, Ted Brooks, Charlie Bissell. Steve Mills had 49% ownership and will remain with Brazos as president and continue to be located in his third-floor office at Lexington Place.
 
Mills previously did property tax work for Bass Family, then went to Lone Star Funds in Dallas before starting Brazos. Loughry and his group bought in on Jan. 7, 2004.

"It was an opportune time to sell because 2009 was our highest volume year," Loughry said. "And Altus offers a platform in which Steve can expand significantly."

Acquisition Highlights

With a well-established national client roster that spans a number of sectors, Brazos is a full service tax provider that offers a wealth of experience in the US marketplace. Specific services include business and personal property compliance and appeals, real estate valuation appeals and property tax payment administration and due diligence.

"A shared corporate culture and demonstrated mutual commitment to growing market share make this a natural and exciting extension of our relationship," said Jim Derbyshire, Global President, Tax, Altus Group. "We know Brazos' business success, years of expertise and local insight will provide a solid foundation to enhance Altus' expanding scope."

"Altus offers us the ability to provide our clients with more comprehensive coverage while maintaining our commitment to delivering accurate and timely advice," said Steve Mills, CMI, President, Brazos Tax Group. "We look forward to nurturing these relationships as we leverage our combined abilities."

About Altus Group Income Fund

Altus Group is the leading multidisciplinary provider of independent real estate consulting and professional advisory services worldwide. With a staff of over 1,600, Altus Group has a network of over 60 offices in 14 countries worldwide, including Canada, UK, Australia, Asia and the United States. We operate four interrelated Business Units, bringing years of expertise together into one comprehensive platform: Research, Valuation and Advisory; Cost Consulting and Project Management; Realty Tax Consulting and Geomatics services. Altus' clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords and companies engaged in the oil and gas industry.