CoStar Group Acquires UK's largest commercial property marketplace Realla
LONDON, Oct. 12, 2018 /PRNewswire/ -- CoStar Group, the leading global provider of commercial real estate information, analytics and online marketplaces has announced its acquisition of Realla, the UK's largest public portal specialised in commercial property.
CoStar is the world leader in operating digital CRE marketplaces, and attracts 40 million unique visitors a month across its North American and European websites. The CoStar network includes LoopNet.com, the number one commercial property marketplace and Apartments.com, the number one apartment marketing site. Over the past 5 years CoStar Group has invested billions of dollars into building the world's leading online property marketplaces, generating hundreds of millions of leads resulting in millions of successful commercial property transactions for our clients.
In the UK, the industry's need for effective, sector-specific web marketing remains unmet, because most portals primarily serve the residential space, and are not positioned to showcase commercial property effectively.
This acquisition is strategic for CoStar. Not only has Realla been extremely successful at creating the UK's largest commercial property-specific listings platform, with good brand recognition and excellent traffic, it has also developed a wealth of expertise in capturing listings data in other European markets, which fits well with CoStar's pan European expansion strategy.
With a single point of data entry, we plan to allow clients to expose their listings to the largest audience of CRE professionals inside the CoStar product and also make them visible to almost a million tenants and investors on the web via Realla. This means agents and landlords can cover more bases efficiently, with a one-stop solution.
"Across the world, marketing commercial properties is moving to digital marketplaces, away from wood-based products like magazines, flyers, and boards" said Andrew C. Florance, CoStar Group founder and Chief Executive Officer. "Realla is the UK's most comprehensive commercial property digital marketplace - and when combined with the CoStar information solution it is expected to offer the best of tools for marketing properties, valuations and facilitating transactions.
Andrew Miles, Realla's CEO added: "We are excited to become part of the CoStar Group. We believe this will enable Realla to accelerate its growth, supported by the terrific resources of CoStar. We believe we can build the single most effective marketing solution for the UK property industry. The commercial property sector deserves a high quality sector-specific online marketplace to better serve agents and owners."
About CoStar Group, Inc.
CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. CoStar is ranked by Fortune as one of the 100 fastest growing companies in the world. Forbes ranks CoStar as one of the 20 most innovative companies in the world. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. LoopNet is the most heavily trafficked commercial real estate marketplace online with approximately 5 million monthly unique visitors per month. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. CoStar Group's websites attracted an average of approximately 40 million unique monthly visitors in aggregate in the second quarter of 2018. CoStar maintains over 100 offices throughout the U.S. and in Europe and Canada with a staff of over 3,800 worldwide, including the industry's largest professional research organization. For more information, visit www.costargroup.com.