CoStar Group Inc - CSGP STOCK NEWS

CoStar Group, Inc. (NASDAQ: CSGP) has announced the acquisition of Business Immo, a leading French commercial real estate news service with over 300,000 unique monthly visitors. Founded in 2004, Business Immo enhances CoStar's global news operations, which already includes coverage in major markets like the U.S., Canada, and the U.K. This strategic move aims to strengthen CoStar’s foothold in the $40 billion French real estate market and expand their digital news offerings, leveraging Business Immo's established reputation among industry professionals.

CoStar Group, Inc. (NASDAQ: CSGP) will release its first-quarter 2022 financial results on April 26, 2022, post-market. A conference call at 5:00 PM EDT will follow to discuss the results and the Company's outlook. Investors can access a live audio webcast through the CoStar Group Investors section. The company plans to announce its second-quarter 2022 financial results on July 26, 2022.

CoStar is a leader in online real estate data and analytics, offering expansive databases and services for commercial real estate.

The Battle of the Bids Game by Ten-X, launching on April 11, invites CoStar Group customers to engage in a unique auction betting experience. Players can win cash prizes from $100 to $1 million over eight rounds. Participants will estimate property auction prices, accumulating points towards prizes. The game aims to enhance user engagement and visibility for Ten-X while benefiting CoStar clients. This initiative illustrates Ten-X's commitment to innovative customer interaction in the commercial real estate sector.

CoStar Group (NASDAQ: CSGP) announced the winners of its inaugural CoStar Impact Awards, recognizing 46 exemplary commercial real estate transactions from 2021 across five categories: Best New Commercial Development, Best New Multifamily Development, Best Lease, Best Finance Transaction, and Best Sale/Acquisition. Selected by a panel of over 90 industry professionals, the awards highlight significant influences on neighborhoods and submarkets in 11 major U.S. markets. The company plans to expand these awards into Canada and the UK in 2023.

CoStar Group, Inc. (NASDAQ: CSGP) has appointed Gene Boxer as General Counsel and Corporate Secretary, effective immediately. Boxer, a seasoned legal professional with over 20 years of experience, will oversee legal and compliance functions, including SEC reporting, M&A, and corporate governance. His previous roles include Chief Strategy Officer at Sirius International Insurance Group and Global General Counsel at Cushman & Wakefield. CoStar expects Boxer's expertise in acquisitions and global management to enhance its growth strategy as it expands internationally.

CoStar Group, Inc. (NASDAQ: CSGP) has launched CoStar for Lenders, a groundbreaking platform integrating clients' commercial real estate loan portfolios with CoStar's extensive data and analytics. The platform features over 4.6 million sale comps and 10.5 million lease comps, aiding clients in compliance with the Current Expected Credit Losses (CECL) requirement. Developed over five years, it simplifies complex analytics for small and mid-sized lenders, enhancing risk management and regulatory reporting capabilities.

CoStar Group reported a strong financial performance for 2021, with revenue reaching $1.94 billion, a 17% increase from 2020. The fourth quarter saw revenue of $507 million, up 14%. Net income for the year rose 29% to $293 million, while fourth quarter net income surged 160% to $93 million. The company anticipates 2022 revenue between $2.145 billion and $2.165 billion, with significant investments planned for its residential products, potentially driving future growth.

CoStar Group, Inc. (NASDAQ: CSGP) launched the 2022 CoStar Impact Awards to celebrate exceptional commercial real estate projects and transactions from 2021 across 11 major U.S. markets. Nominations are open from February 9 to February 24, 2022, with winners announced in late March 2022. Categories include Best New Commercial Development and Best Lease Transaction. Winners will receive trophies and extensive promotion through CoStar's channels, recognizing their contributions to the commercial real estate industry.