WASHINGTON, Dec. 4, 2013 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), the leading provider of commercial real estate information, analytics and marketing services, today announced the launch of CoStar Multifamily™, an enhanced capability within the CoStar product suite that harnesses the power of CoStar's comprehensive research for the multifamily sector.
With CoStar Multifamily, the same powerful information tools used by office, retail and industrial professionals are now available for multifamily professionals. Following a massive effort by CoStar's industry-leading research team, CoStar now offers the largest and most comprehensive multifamily database in the U.S. The CoStar database provides coverage on nearly 300,000 apartment communities with five or more units for a total of over 16 million apartments, which is believed to be more than twice the number of properties found in any other multifamily data source. The data is proactively verified and maintained on an aggressive update frequency by CoStar's 1,200-plus researchers.
Subscribers to CoStar can search and analyze multifamily properties in stunning detail. CoStar is capturing information such as multifamily-specific submarkets, building quality, effective rents, concessions, occupancy levels, ownership, unit sizes, bed/bath mix, amenities, images and more.
Key features in CoStar Multifamily include:
- Building details and quality
- Asking rents, effective rents, concessions and occupancy rates
- Over 1 million sales comps dating back to 1995
- Site-verified construction locations and delivery schedules
- Floor plans and high-resolution property images
- Highly detailed information on amenities, unit sizes and mixes
- A team of 50 economists providing market analysis and forecasting in 210 markets
This robust data can be queried and analyzed in CoStar's desktop software and on CoStarGo®, CoStar's revolutionary iPad app, to provide valuable analytic information and insight on market trends.
"CoStar Multifamily fills a great need for comprehensive data in the multifamily sector," stated CoStar Founder & CEO Andrew C. Florance. "Multifamily is a $2 trillion asset class and is currently the hottest sector in commercial real estate. Over $95 billion of transactions were completed in this sector during the past year. Whether you are buying, selling, underwriting or developing multifamily properties, CoStar Multifamily should be your number one source for making confident multifamily investment decisions."
CoStar Multifamily offers features for a broad range of multifamily real estate professionals. Investors and developers can analyze key factors that drive supply and demand to make informed decisions on potential new projects and investments. Lenders can leverage CoStar's inventory of sales comps and for-sale inventory with powerful analytics and forecasting tools to make more accurate and informed lending decisions. Portfolio managers can leverage CoStar's sales comps, market analytics and forecasting tools to more accurately measure portfolio performance and potential.
Together with CoStar's Property & Portfolio Research (PPR) subsidiary, which provides forecasts and advisory services to owners and institutional investors, clients can analyze multifamily markets at the macro level, and zoom in to view the most granular details using the same researched and verified data.
About CoStar Group, Inc.
CoStar Group (Nasdaq:CSGP) is the leading provider of commercial real estate information, analytics and marketing 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. Through LoopNet, the Company operates the most heavily trafficked commercial real estate marketplace online with more than 7.7 million registered members. CoStar operates websites that have approximately 9 million unique monthly visitors in aggregate. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe with a staff of approximately 2,000 worldwide, including the industry's largest professional research organization. For more information, visit www.costar.com.
This news release includes "forward-looking statements" within the meaning of the federal securities laws, including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the risk that users of CoStar Multifamily do not realize the benefits expected and as stated in this release; and the risk that other, competing applications are in the market or will enter the market. 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 Annual Report on Form 10-K for the year ended December 31, 2012, and CoStar's Quarterly Report on Form 10-Q for the quarter ended September 30, 2013, under the heading "Risk Factors" in each of these filings. 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.