WASHINGTON, April 23, 2012 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), commercial real estate's leading provider of information and analytic services, today announced that the International Real Estate Society (IRES), a prestigious federation of regional real estate societies in North America, Latin America, Europe, Asia, Pacific Rim, Africa, and Middle East-North Africa, has selected CoStar to receive the IRES Corporate Leadership Award for 2012. The honor was announced at IRES's joint meeting with the American Real Estate Society (ARES) last week.
IRES recognized CoStar for its outstanding corporate leadership internationally and its contribution to education and research in commercial real estate.
"CoStar has a long history of demonstrating corporate leadership at all levels of commercial real estate in the United States and internationally," said IRES president Eliane Monetti. "We appreciate CoStar's commitment to the industry and we are very impressed with the Company's active participation, its proactive approach to identifying ways to provide access to CoStar's robust data and its encouragement of research methods and ideology in the industry."
CoStar is an active supporter of academic research providing qualified university professors and their students with free access to its industry-leading data through its CoStar University program. The Company sponsors The Journal of Sustainable Real Estate, a well-respected publication that promotes green buildings and sustainable real estate. Professionals from CoStar and its analytics division Property and Portfolio Research (PPR) are active participants in giving research presentations, serving on panels and providing white papers to the industry's organizations. CoStar sponsors ARES at the President's Council level and CoStar Founder and Chief Executive Officer Andrew C. Florance serves on the ARES Board of Directors.
"We are extremely honored to receive this award from IRES, an organization which does fantastic work in promoting and supporting commercial real estate research and education all over the world," said Florance. "We are fully committed to promoting education and research in real estate and will continue our active support of IRES and ARES."
IRES presents three awards each year for Corporate Leadership, Achievement, and Service. Previous recipients of the Corporate Leadership Awards include the Royal Institution of Chartered Surveyors in London, LaSalle Investment Management in Chicago and RCA in New York. The 2012 awards will be presented at the European Real Estate Society's annual meeting in Edinburgh, Scotland on June 14, 2012.
About the International Real Estate Society
The International Real Estate Society (IRES) is a federation of regional real estate societies. Each Society maintains control over its own activities while participating in the federation to get the benefits of global co-operation. For more information, visit http://www.iresnet.net.
About PPR
A division of CoStar Group, Property and Portfolio Research (PPR) provides unparalleled expertise and objective thinking in analyzing and forecasting commercial real estate markets.
With a dedicated commitment to providing the best in commercial real estate research, PPR's widely respected knowledge of the markets allows clients to stay ahead of market trends, act decisively, and feel confident about their investment decisions. PPR sets the pace in offering independent research, a unique set of analytic tools, and actionable insights to commercial real estate investors on hundreds of global markets in North America, the UK and Europe. Clients range from commercial banks and financial institutions to pension funds and insurance companies, as well as government and rating agencies. For more information, visit http://www.ppr.info.
About CoStar Group, Inc.
CoStar Group (Nasdaq:CSGP) is commercial real estate's leading provider of information and analytic services. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe with a staff of approximately 1,500 worldwide, including the industry's largest professional research organization. For more information, visit www.costar.com.
This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. More information about potential factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including CoStar's Form 10-K for the year ended December 31, 2011, under the heading "Risk Factors." In addition to these statements, there can be no assurance that CoStar's plans for promoting education and research in real estate and support of IRES and ARES will not change due to unforeseen circumstances. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements, whether as a result of new information, future events or otherwise.