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CoStar Group Inc. (NASDAQ: CSGP) is the premier provider of commercial real estate information, analytics, and online marketplaces. Established in 1987, CoStar has built and maintained the most comprehensive database of commercial real estate data through extensive and continuous research. This effort supplies clients with unparalleled insights into property values, market conditions, and current availabilities.
CoStar's diverse suite of online services includes CoStar Suite, which offers in-depth analytical information on over 5 million commercial real estate properties across various sectors such as office, retail, hotels, multifamily, healthcare, industrial, self-storage, and data centers. Another prominent platform, LoopNet, is the most trafficked commercial real estate marketplace online, boasting over 9.8 million registered members.
The company also oversees leading apartment resource sites like Apartments.com, ApartmentFinder.com, and ApartmentHomeLiving.com. These platforms serve renters seeking quality apartment homes and provide a robust marketing channel for property managers and owners. As of June 2015, CoStar's websites collectively attract more than 23.6 million unique monthly visitors.
Headquartered in Washington, DC, CoStar Group has significantly expanded its global footprint, including recent growth into markets in Canada, the United Kingdom, Spain, and France. With over 80% of its revenue derived from subscription-based services, CoStar continues to lead the industry through innovation and a commitment to providing actionable real estate intelligence.
CoStar Group (NASDAQ: CSGP) reported a 19% increase in revenue for 2020, totaling $1.66 billion, compared to $1.4 billion in 2019. The fourth-quarter revenue also rose 19% to $444 million. Net income for the year was $227 million, or $5.93 per diluted share. Adjusted EBITDA for 2020 increased 9% to $553 million. The company saw record performance in its Apartments.com and LoopNet platforms, with revenue growth of 22% and 20%, respectively. CoStar raised $2.7 billion in capital and completed multiple acquisitions.
CoStar Group announces the integration of CMBS loan and property data into its commercial real estate platform. This enhancement includes detailed financials and operating statements for over 100,000 active CMBS loans, totaling $1 trillion. Clients can access valuable insights, such as distressed investment opportunities and financial performance comparisons. The integration aims to empower over 165,000 subscribers with advanced search capabilities, enhancing decision-making in the commercial real estate sector.
CoStar Group (NASDAQ: CSGP) has officially proposed to acquire CoreLogic (NYSE: CLGX) for $95.76 per share, offering CoreLogic shareholders 0.1019 shares of CoStar stock per CoreLogic share. This proposal, delivering a $15.76 per share premium over CoreLogic’s existing deal, reflects CoStar's belief that their offer maximizes shareholder value through significant synergies estimated at $150-$250 million annually. CoStar emphasizes its strong financial track record and the strategic benefits of merging commercial and residential real estate solutions, which could substantially grow the combined entity's addressable market.
CoStar Group (NASDAQ: CSGP) will report its fourth quarter and year-end financial results on February 23, 2021, post-market. A conference call is scheduled for 5:00 PM ET to discuss these results and the company's future outlook. Investors can access a live audio webcast on CoStar's website.
CoStar Group is a leader in commercial real estate data and analytics, maintaining an extensive database and providing various online services that attract around 69 million unique visitors monthly.
CoStar Group, the leader in commercial real estate information, announced a significant milestone for its Apartments.com Network, which achieved one billion website visits in 2020. This growth marks an increase of over 160 million visits compared to last year, positioning it ahead of competitors. The network facilitated a record-breaking 170 million virtual tours and 10 billion property page views. CoStar invested approximately $250 million in marketing, resulting in over 10 billion media impressions, and plans to continue its advertising efforts in 2021.
CoStar Group has announced its acquisition of Houses.com, marking its entry into the residential real estate marketplace. The transaction follows the Federal Trade Commission's approval of its acquisition of Homesnap, Inc. on December 16, 2020. This move aims to create a national platform for agents and homeowners to sell properties while maintaining the role of real estate agents. CoStar Group, known for its extensive marketplace in commercial real estate, seeks to leverage its strengths to benefit the residential sector.
CoStar Group has received Federal Trade Commission approval for its acquisition of Homesnap, enhancing its offerings for real estate agents. The merger, submitted for review in November 2020, is expected to close shortly. Homesnap, serving over 1.1 million agents, reported projected revenue of $40 million for 2020, a 45% increase from 2019. This acquisition aims to leverage CoStar's extensive experience in property data to improve Homesnap's technology and features, strengthening industry connections and boosting productivity.
CoStar Group (NASDAQ: CSGP) has appointed Carl Gomez as Chief Economist and Head of Market Analytics for Canada. With over 20 years of experience, including roles at QuadReal Property Group and Bentall Kennedy, Gomez will enhance CoStar's market analysis capabilities. This strategic hire aims to accelerate growth and improve services for clients in Canada, reinforcing CoStar's commitment to delivering reliable commercial real estate data and analytics since its entry into the Canadian market in 2014.
CoStar Group (NASDAQ: CSGP) announced its agreement to acquire Homesnap, Inc. for $250 million in cash. Homesnap is a leading platform for residential real estate, used by over 300,000 agents. This acquisition is expected to significantly expand CoStar's market presence, increasing their addressable market from $16 trillion to nearly $43 trillion by integrating residential real estate data. With expected revenue growth of 45% from Homesnap, this move adds a vital complementary service to CoStar's offerings. The transaction is set to close in 2020, pending regulatory review.
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