CoStar Group Signs Agreement with Marcus & Millichap for Commercial Real Estate Services in Canada
TORONTO, July 25, 2019 – CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces has signed a national 5-year renewal agreement in Canada with Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. Through this agreement, CoStar will bolster Marcus & Millichap’s access to sales comps and market analytics throughout Toronto, Ottawa, Calgary, Edmonton and Vancouver.
“Progress on Marcus & Millichap’s expansion into Canada has been strong, highlighted by our recent growth in Montreal, Ottawa, and Edmonton,” said Greg LaBerge, Marcus & Millichap’s Chief Administrative Officer. “Our strategic relationship with CoStar in Canada is a natural extension of the firm’s commitment to providing the commercial real estate marketplace with a unique investment business model dedicated to maximizing value for real estate investors that our founders began in 1971.”
“CoStar is proud to forge an agreement with one of the industry’s premier providers of investment real estate brokerage services,” said CoStar Canada Managing Director, Mark Ibbotson. “Our data, analytics and tools are a valuable addition to the services Marcus & Millichap and its growing Institutional Property Advisors (IPA) division in Canada provide to private investors, professionals and institutions. We believe this strategic relationship will help take their Canadian business to new heights.”
CoStar provides a vast combination of reliable tools, resources and deep understanding on over 5 million commercial real estate properties in today’s market. Now, together with Marcus & Millichap, CoStar is here to keep clients moving ahead with confidence.
Media Contact:
Matthew Blocher, CoStar Group
(202) 346-6775,
mblocher@costar.com
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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. 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 5.8 million monthly unique visitors. Realla is the UK’s most comprehensive commercial property digital marketplace. 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 over 52 million unique monthly visitors in aggregate in the second quarter of 2019. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of over 3,900 worldwide, including the industry’s largest professional research organization. For more information, visit www.costargroup.com.
About Marcus & Millichap (NYSE: MMI)
With nearly 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.
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This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements, including the risk that the agreement and strategic relationship between the parties does not produce the expected results, including taking Marcus & Millichap’s Canadian business to new heights. More information about potential factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including in CoStar's Annual Report on Form 10-K for the year ended December 31, 2018, and CoStar’s Quarterly Report on Form 10-Q for the period ended June 30, 2019, each of which is filed with the SEC, including in the "Risk Factors" section of those filings, as well as the CoStar's other filings with the SEC available at the SEC's website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements, whether as a result of new information, future events or otherwise.
