Articles from CoStar Group

Andy Florance, Founder and Chief Executive Officer of CoStar Group, Inc. (NASDAQCSGP) (“CoStar Group,” “we” or “our”), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, today was recognized as one of Inman’s 2025 Power Players.

Andy Florance, Founder and Chief Executive Officer of CoStar Group, Inc. (NASDAQCSGP)(“CoStar Group,” “we” or “our”), a leading provider of online real estate marketplaces, information and analytics in the property markets, today was named as one of the nation’s top ten most powerful executives in the residential real estate industry by Swanepoel Power 200 (“SP 200”).

Today, Apartments.com – an online marketplace of CoStar Group, Inc. – published an in-depth report on multifamily rent trends for the fourth quarter of 2024.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, today announced an enterprise agreement with eXp Commercial, a nationwide virtual commercial real estate brokerage and subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), to provide its advisors with access to the leading global real estate data and analytics platform.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, will host an Investor Day on Thursday, December 5, 2024, from 9:00 a.m. to 2:30 p.m. ET in-person in Richmond, Virginia, and online via webcast. The event will feature presentations, engagement opportunities with CoStar Group’s leadership team and a tour of the Company’s global campus.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, will present at this year’s Stephens NASH24 Conference. CFO Chris Lown and Head of Investor Relations Rich Simonelli will participate in a fireside chat on Tuesday, November 19, 2024, at 10:00 a.m. ET. Live and recorded versions of the webcast will both be available under the Events & Presentations section of the CoStar Group Investor Relations website for at least 30 days: https://investors.costargroup.com/events-presentations.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, will present at this year’s RBC Capital Markets 2024 Global TIMT Conference. CFO Chris Lown and Head of Investor Relations Rich Simonelli will participate in a fireside chat on Wednesday, November 20, 2024, at 3:20 p.m. ET. Live and recorded versions of the webcast will both be available under the Events & Presentations section of the CoStar Group Investor Relations website for at least 30 days: https://investors.costargroup.com/events-presentations.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, will present at this year’s KBW Fintech Conference. CFO Chris Lown and Head of Investor Relations Rich Simonelli will participate in a fireside chat on Thursday, November 14, 2024, at 12:40 p.m. ET. Live and recorded versions of the webcast will both be available under the Events & Presentations section of the CoStar Group Investor Relations website for at least 30 days: https://investors.costargroup.com/events-presentations.

Please replace the release with the following corrected version due to multiple revisions.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, announced today that it has completed its acquisition of lease administration and accounting platform Visual Lease. The strategic acquisition will enhance CoStar Group’s Real Estate Manager business line and provide additional lease management and lease accounting value to corporations of all sizes.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, today announced an agreement with research and consulting firm Gartner to take back-office space previously leased by Gartner in Arlington, Virginia. Located at 1201 Wilson Boulevard, the building is a 552,000 square foot trophy office tower with LEED Platinum certification. CoStar Group purchased the property earlier this year with the intention of relocating its Washington, DC employees to Arlington as part of a corporate headquarters transition.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, announced today that it has reached a definitive agreement to acquire Visual Lease. The strategic acquisition will enhance CoStar Group’s Real Estate Manager business line and provide additional lease management and lease accounting value to corporations of all sizes.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended September 30, 2024 was $693 million, up 11% over revenue of $625 million for the quarter ended September 30, 2023. Net income was $53 million in the third quarter of 2024, an increase of 176% from the second quarter of 2024. Net income per diluted share was $0.13. In the third quarter of 2024, EBITDA was $51 million and Adjusted EBITDA was $76 million, which represent increases from the second quarter of 2024 of 320% and 86% respectively. Adjusted EBITDA exceeded the mid-point of the Company's guidance range by 54% for the third quarter of 2024.

Today, Apartments.com – an online marketplace of CoStar Group, Inc. (“CoStar”) – published an in-depth report of multifamily rent trends for the third quarter of 2024.

Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, has been honored as one of Washingtonian Magazine’s 2024 Tech Titans. This marks the third consecutive year Florance has received this prestigious recognition.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, will announce financial results for the third quarter of 2024 following the market close on Tuesday, October 22, 2024. Management will conduct a conference call to discuss the third quarter results, as well as the Company’s outlook at 5:00 PM EDT that same day.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, today announced an agreement with Cushman & Wakefield, one of the world’s largest commercial real estate services firms, for its services in Canada. Cushman & Wakefield has chosen CoStar to be its primary commercial real estate information provider in Canada – connecting CRE professionals with up to date, verified information on properties across markets, including lease and sales comps, for sale and for lease listings, tenants, occupancies, concessions, high-quality visual content, news and market and submarket analytics. The partnership bolsters Cushman & Wakefield’s research capabilities to help brokers better serve their clients, close more deals and earn more commissions.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended June 30, 2024 was $678 million, up 12% over revenue of $606 million for the quarter ended June 30, 2023. Net income was $19 million in the second quarter of 2024 and net income per diluted share was $0.05.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, today announced the appointment of Rich Simonelli as Head of Investor Relations and Cyndi Eakin as Chief Accounting Officer. Each will report to Chris Lown, Chief Financial Officer of CoStar Group.

Today, Apartments.com – a CoStar Group online marketplace – released an in-depth report of multifamily rent trends for the second quarter of 2024

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, will announce financial results for the second quarter of 2024 following the market close on Tuesday, July 23, 2024. Management will conduct a conference call to discuss the second quarter results, as well as the Company’s outlook at 5:00 PM EDT that same day.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, today announced the appointment of Christian M. Lown as Chief Financial Officer effective July 1, 2024. Lown will join CoStar Group from Fortune 500-ranked home loan giant Freddie Mac, where he serves as Executive Vice President and Chief Financial Officer until June 28, 2024. He will report to Andy Florance, Founder and Chief Executive Officer of CoStar Group.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, today published its 2024 Environmental, Social, and Governance Report. The report highlights the company’s commitment to making business decisions that prioritize its people, communities and shareholders through meaningful environmental, social and governance (ESG) practices.

Andy Florance, Founder and CEO of CoStar Group, a leading provider of online real estate marketplaces, information, and analytics in the property markets, was recognized on Commercial Observer’s Power 100 List.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended March 31, 2024 was $656 million, up 12% over revenue of $584 million for the quarter ended March 31, 2023. Net income was $7 million in the first quarter and net income per diluted share was $0.02 for the first quarter of 2024.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets announced today that it has reached a definitive agreement to acquire all outstanding shares of Matterport in a cash and stock transaction valued at $5.50 per share reflecting an estimated $1.6 billion of enterprise value. Under the terms and subject to the conditions of the agreement, Matterport stockholders will receive $2.75 in cash and $2.75 in shares of CoStar Group common stock for each share of Matterport common stock.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, announced today that it has been chosen as a 2024 Top Workplaces USA for Richmond by the Richmond Times-Dispatch. This was the first year that CoStar Group had been considered for the award, which was informed by employee surveys conducted by a neutral third party, employee research firm Energage.

Today, Apartments.com – a CoStar Group online marketplace – released an in-depth report of multifamily rent trends for the first quarter of 2024.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, will announce financial results for the first quarter of 2024 following the market close on Tuesday, April 23, 2024. Management will conduct a conference call to discuss the first quarter results, as well as the Company’s outlook at 5:00 PM EDT that same day.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, today announced the winners of the 2024 CoStar Impact Awards.

The Homes.com Residential Network reached more than 149 million unique visitors in February, cementing Homes.com’s position as the second-most trafficked homebuying portal. * Homes.com itself achieved a 567% year-over-year (YOY) traffic increase. **

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, announced today that revenue for the year ended December 31, 2023 was $2.46 billion, an increase of 13% over revenue of $2.18 billion for the full year of 2022. Revenue for the fourth quarter of 2023 was $640 million, an increase of 12% over revenue of $573 million for the fourth quarter of 2022. Net income was $375 million for the year ended December 31, 2023, compared to $369 million for the year ended December 31, 2022, and net income was $96 million for the fourth quarter of 2023.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, today announced the purchase of 1201 Wilson Boulevard, a 552,000 square foot office building in Arlington, Virginia. CoStar Group plans to relocate its Washington, D.C. employees to Arlington and capitalize on nearly $7 million in tax and economic incentives.

Homes.com, a brand of CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, today earned the 43rd spot in SISTRIX’s IndexWatch 2023 for organic visibility improvement.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets, will announce financial results for the fourth quarter and full year 2023 following the market close on Tuesday, February 20, 2024. Management will conduct a conference call to discuss the fourth quarter and full year results, as well as the Company’s outlook at 5:00 PM EST that same day.

Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQCGSP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, today was honored as one of Inman’s 2024 Power Players.

The Swanepoel Power 200, the definitive ranking of the residential real estate brokerage industry’s executives and leaders, has named Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQCSGP), as one of the nation’s ten most powerful and influential people in real estate for 2023.

Today, Apartments.com – a CoStar Group online marketplace – released an in-depth report of multifamily rent trends for the fourth quarter of 2023. Throughout the year, a record number of units were delivered, presenting varying supply and demand challenges across the country.

CoStar Group, Inc. ("CoStar", NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, announces the completion of its acquisition of OnTheMarket plc ("OTM"), one of the UK’s three most visited residential property portals.

This Saturday, November 18th, CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, held a community giving event in partnership with Feed More at the company’s Richmond headquarters.

CoStar Group (NASDAQCSGP), a leading global provider of online real estate marketplaces, information news and analytics, announced today the appointment of Sandra Roumi as its first France General Manager, to lead the Group’s France expansion efforts.

Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQCSGP), a leading provider of online marketplaces, information and analytics in the property markets, was named amongst Inman’s Best of Proptech Award winners for the Entrepreneur category.

Today, Apartments.com – a CoStar Group online marketplace – released an in-depth report of multifamily rent trends for October 2023. On a month-over-month basis, rents rose in six of the top 50 largest markets in October.

This Sunday, October 29th, CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, partnered with Keep Virginia Beautiful, Capital Trees, and the City of Richmond's Parks, Recreation, and Community Facilities (PRCF) to plant 50 trees in Canoe Run Park.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended September 30, 2023 was $625 million, up 12% over revenue of $557 million for the quarter ended September 30, 2022. Net income was $91 million in the third quarter, an increase of 25% over the prior year.

CoStar Group, Inc. (NASDAQCSGP), a leading global provider of online real estate marketplaces, information, and analytics, announced a proposal today to acquire OnTheMarket, the third most visited residential property portal in the United Kingdom, for £1.10 per share in cash or approximately £100 million.

Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, was named one of the most powerful people in commercial real estate proptech by Commercial Observer for the second consecutive year.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, is accepting nominations for the third annual CoStar Impact Awards. The CoStar Impact Awards identify and highlight exemplary commercial real estate transactions and projects that have had a significant influence in neighborhoods or submarkets across 128 major markets in the United States, Canada and United Kingdom. The awards will recognize exemplary projects and transactions completed in 2023, as selected by a panel of industry professionals drawn from each respective market.

Today, Apartments.com – a CoStar Group online marketplace – published an in-depth report of multifamily rent growth trends for the third quarter of 2023. Imbalances between supply and demand continue to plague the once fast-growing Sun Belt markets, while markets in the Northeast and Midwest round out the top rent growth leaders.

CoStar Group, Inc. (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets, will announce financial results for the third quarter of 2023 following the market close on Tuesday, October 24, 2023. Management will conduct a conference call to discuss the third quarter results, as well as the Company’s outlook at 5:00 PM EDT that same day.

CoStar Group (NASDAQCSGP), an S&P500 leading provider of online real estate marketplaces, information, and analytics, today announced Homes.com achieved a major milestone in September with over 100 million unique visitors, now positioning Homes.com as one of the two most heavily trafficked real estate portals in the U.S.

Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, today was named a Gold Globee winner for CEO of the Year at the 11th Annual Globee Awards for Leadership.

Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, today was honored as one of Washingtonian’s 2023 Tech Titans.

Today, CoStar Group’s Founder and Chief Executive Officer, Andy Florance, was named the winner of a Gold Stevie® Award in the Executive of the Year – Real Estate category in The 20th Annual International Business Awards®. He was also honored with a Silver Stevie® Award in the Best Entrepreneur – Real Estate category.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, today announced it is serving as the lead sponsor of the sixth annual Ultimate Backpack Supply Drive, a program working to provide students at Richmond public schools with more than 35,000 backpacks filled with essential school supplies to help start the school year off on the right foot, free of charge.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets, today announced the expansion of its board to nine members with the appointment of Angelique Brunner as an independent member of the board.

Ten-X – the world's largest online commercial real estate exchange and a CoStar Group brand – today announced the launch date of Season 2 of its celebrated “Battle of the Bids” competition. Last year’s first-ever Battle of the Bids featured more than 13,000 commercial real estate industry players competing to win $3.1 million of cash prizes. Their objective was to predict the sale price of the properties nationwide during a Ten-X auction. This year, Ten-X is taking Season 2 of Battle of the Bids to new heights with more ways to win and bigger cash prizes. Registration opens today at BattleoftheBids.com and the game begins on September 8th.

Today, Apartments.com – a CoStar Group online marketplace – released an in-depth report of multifamily rent growth trends for the second quarter of 2023. Supply continues to outpace demand across the country with 520,000 new units expected to be delivered by the end of the year.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, today was named to Forbes Global 2000 20th Anniversary list, recognizing the company’s global influence and sustained growth.

Today, CoStar Group, a leading provider of online real estate marketplaces, information and analytics in the property markets, announced that its founder and CEO Andy Florance has signed a commitment letter to set near-term and long-term science-based greenhouse gas emission reduction targets in accordance with the Science Based Targets Initiative (SBTi).

Ten-X – the world's largest online commercial real estate exchange and a CoStar Group brand – today released its second Auction Insights Report, which dives into data and trends on the multifamily sector drawn in part from sales of residential properties on the Ten-X auction platform. The report, which is proprietary to Ten-X and includes information and data not available elsewhere, finds the industry at a new crossroads with high interest rates and record-high supply additions drastically diminishing rent growth in most markets. Multifamily property transactions on the Ten-X online auction platform reflect the sector’s newfound dynamics.

Today, LoopNet, a CoStar Group (NASDAQCSGP) company, issued the latest installment in a multi-year research effort providing insights into the commercial real estate search behavior of commercial property tenants and investors. The research was led by Market Connections, a third-party research company commissioned by LoopNet and in partnership with Google. The study polled 400 tenants and investors to determine what sources they use to search for commercial real estate and the role of their broker in their search process.

Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, today was honored as one of Commercial Observer’s Power 100.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, today announced a historic partnership with Virginia Commonwealth University (VCU) to support the development of its planned Arts and Innovation Academic Building through an $18 million commitment. The project, tentatively to be named the CoStar Center for Arts and Innovation, subject to legal requirements and any necessary approval by the VCU Board of Visitors, the Commonwealth’s Department of General Services, or other state agencies, will consolidate VCU’s nationally recognized School of the Arts, ranked fourth in the country, and innovation programs under one roof for the first time. CoStar Group’s investment adds to the Company’s long-standing history of investment in educational opportunities in the city of Richmond and the Commonwealth of Virginia.

Today, Apartments.com – a CoStar Group online marketplace – released an in-depth report of multifamily rent growth trends for April 2023 backed by analyst observations. For the first time since the third quarter of 2021, vacancy rates did not increase, holding steady at 6.7%.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, announced today the launch of STR Benchmarking, a transformational market share product for the global hotel industry. STR Benchmarking represents the next generation of STR, with the company’s hotel data benchmarking, analytics and marketplace insights integrated into CoStar’s industry-leading information, analytics, and data-driven news platform.

This month’s CoStar Commercial Repeat Sale Indices (CCRSI) provides the market’s first look at commercial real estate pricing trends through March 2023. Based on 1,164 sale pairs in March 2023 and more than 289,037 repeat sales since 1996, the CCRSI offers the broadest measure of commercial real estate repeat sales activity.

CoStar Group (NASDAQCSGP), a leading global provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets, announced today that the company will be added to the NASDAQ 100 Index®, effective prior to the opening of trading on Monday, December 19, 2022.

CoStar Group (NASDAQCSGP) – a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets – today announced the next steps in its integration of Homes.com and Homesnap.

CoStar Group (NASDAQCSGP) is excited to formally announce that submissions have opened for the second annual CoStar Impact Awards. The CoStar Impact Awards seek to identify and highlight commercial real estate projects and transactions that have had a signifcant influence in neighborhoods or submarkets accross 128 major international markets in the United States, Canada and the United Kingdom. The awards will recognise exemplary projects and transactions completed in 2022, as selected by a panel of industry professionals drawn from each respective market.

CoStar Group (NASDAQCSGP) today announced its participation as a sponsor in the inaugural Keeling Curve Prize (KCP) Laureate Celebration, an event hosted by the Global Warming Mitigation Project, a 501(c)(3) nonprofit that aims to pave the way to a livable future by bringing visibility, credibility and funding to science-backed climate solutions around the globe while providing inclusive and positive opportunities for individuals, companies, and organizations to contribute to climate mitigation efforts.

CoStar Group (NASDAQCSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, is proud to announce that the Company’s Senior Vice President of Global Operations, Lisa Ruggles, has been named a winner of the 2022 Women of Influence Awards presented by industry news leader GlobeSt.com and GlobeSt. Real Estate Forum. Ruggles is one of 11 women nationwide to receive GlobeSt.’s prestigious Mentor Award, which honors the commercial real estate industry’s most successful, knowledgeable, and dedicated mentors who support and lift others throughout their careers.

CoStar Group (NASDAQCSGP) in conjunction with The Real Estate Board of New York (REBNY), today announced the official launch of Citysnap, the first-ever consumer-facing search website and mobile app for REBNY’s Residential Listing Service (RLS). Citysnap provides New York City home searchers and real estate professionals with a search portal and app featuring accurate, up-to-date, and comprehensive listings, arming them with a powerful new tool in the search for both residential rentals and properties for sale.