NEW YORK, June 12, 2012 (GLOBE NEWSWIRE) -- Reis, Inc. (Nasdaq:REIS) ("Reis" or the "Company"), a leading provider of commercial real estate market information and analytical tools, today announced that its commercial real estate information will now be available to subscribers of the Bloomberg Professional service.
Bloomberg subscribers, now numbering more than 310,000, will have access to Reis's proprietary supply, demand and price data for apartment, office, retail and industrial properties for the nation's largest metropolitan areas. Every quarter, Reis will generate a critical subset of its fundamentals data to assist fixed income and equity investment professionals, direct investors, Real Estate Investment Trusts (REITs) and corporate real estate executives in making informed decisions about their existing portfolios and potential future real estate investments.
Reis information will be available to subscribers of the Bloomberg Professional service at {REIS<GO>} and integrated across property and credit valuation tools on Bloomberg's Commercial Mortgage Backed Security (CMBS) product, a market leading analytical tool for CMBS investors. By incorporating property cap rates and vacancy information into Bloomberg's property projection analytics, CMBS investors can determine best- or worst-case outcomes for distressed properties and the impact to their cash flow proceeds.
Lloyd Lynford, Reis's Chief Executive Officer, called this agreement a significant one for Reis. "This is a watershed moment in our strategy to put Reis's property and market information, as well as our analytics—long relied upon by the nation's top commercial real estate executives—on the desktops of investors and real estate professionals throughout the world," he said. "The combination of the Reis brand and the Bloomberg platform represents a meaningful advance for commercial real estate as that asset class competes for a greater share of global capital flows."
According to Reis's Vice President of Business Development, Aziz Akin, the specific data that will be made available to Bloomberg users are particularly powerful in the analysis of securities backed by commercial real estate assets. "The availability of objective trend and forecast data, such as rents, vacancies, and capitalization rates, will contribute to more accurate estimates of value and risk," he said.
Reis's Chief Operating Officer, Bill Sander, discussed this agreement in the context of Reis's growth strategy, observing, "We continue to implement our vision of providing Reis's world class market information and analytics to decision makers, no matter where they work, or what platforms they use. We are carefully identifying and monetizing profitable opportunities."
About Reis
Reis, founded in 1980, provides commercial real estate market information and analytical tools for its subscribers. Reis maintains a proprietary database containing detailed information on commercial properties in metropolitan markets and neighborhoods throughout the U.S. The database contains information on apartment, office, retail, warehouse/distribution and flex/research & development properties and is used by real estate investors, lenders and other professionals to make informed buying, selling and financing decisions. In addition, Reis data is used by debt and equity investors to assess, quantify and manage the risks of default and loss associated with individual mortgages, properties, portfolios and real estate backed securities. Reis currently provides its information services to many of the nation's leading lending institutions, equity investors, brokers and appraisers.
Reis, through its flagship institutional product, Reis SE, and through its small business product, ReisReports, provides online access to a proprietary database of commercial real estate information and analytical tools designed to facilitate debt and equity transactions as well as ongoing evaluations. Depending on the product, users have access to trend and forecast analysis at metropolitan and neighborhood levels throughout the U.S. and/or detailed building-specific information such as rents, vacancy rates, lease terms, property sales, new construction listings and property valuation estimates. Reis's products are designed to meet the demand for timely and accurate information to support the decision-making of property owners, developers, builders, banks and non-bank lenders, and equity investors. These real estate professionals require access to timely information on both the performance and pricing of assets, including detailed data on market transactions, supply, absorption, rents and sale prices. This information is critical to all aspects of valuing assets and financing their acquisition, development and construction.
For more information regarding Reis's products and services, visit www.reis.com and www.ReisReports.com.
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Cautionary Statement Regarding Forward-Looking Statements
This press release, together with other statements and information publicly disseminated by Reis, Inc., may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Reis or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Please refer to Reis's annual, quarterly and periodic reports on file with the SEC for a more detailed discussion of various risks that could cause results to differ materially.