WASHINGTON–(BUSINESS WIRE)–Today, CoStar Group, Inc. (NASDAQ: CSGP) announced the launch of CoStar for Lenders, a fully integrated platform that pairs a user’s commercial real estate loan portfolio with the power of CoStar’s industry-leading property information; market analytics; and proprietary COMPASS credit default model, a best-in-class tool for over 17 years.
Users will have access to data from the largest research organization in commercial real estate, including 4.6 million sale comps, 10.5 million lease comps, information on more than 8.1 million tracked tenants, and more.
“CoStar for Lenders is truly revolutionary,” said Andrew Florance, Founder and Chief Executive Officer, CoStar Group. “For the first time, we’ve created a live connection between a user’s loan portfolio, CoStar’s unrivaled data, market analytics, our various online marketplaces and our proprietary COMPASS Credit Default Model. Our clients will now have a lending solution unlike anything the commercial real estate industry has ever seen before.”
CoStar for Lenders also addresses one of the most challenging accounting changes in the last decade by supporting commercial real estate lenders’ compliance with the Current Expected Credit Losses (CECL) requirement. The platform’s focus on easy implementation, data quality, risk modeling and reporting supports CECL readiness and compliance.
CoStar for Lenders is the product of a half-decade of research and development by CoStar’s Risk Analytics team. The platform has been meticulously designed with simplicity in mind, making it easy to streamline complex modeling and analytics, giving small and mid-size financial institutions access to a powerful risk management platform. With CoStar for Lenders, users will also be able to:
- Eliminate inefficient processes with all relevant information integrated in a single platform
- Effortlessly screen loans across 6.8M properties and win more deals
- Manage risk with increased confidence using the industry’s most mature credit model
- Report to regulators with more credibility and resilience to scrutiny
To learn more about CoStar for Lenders, visit CoStar.com/CoStarforLenders.
About CoStar Group, Inc.
CoStar Group, Inc. (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information and analytics. 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. STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Ten-X provides a leading platform for conducting commercial real estate online auctions and negotiated bids. LoopNet is the most heavily trafficked commercial real estate marketplace online. 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. Homesnap is an industry-leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship. Homes.com offers real estate professionals advertising and marketing services for residential properties. Realla is the UK’s most comprehensive commercial property digital marketplace. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. CoStar Group’s websites attract tens of millions of unique monthly visitors. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada and Asia. From time to time we plan to utilize our corporate website, www.costargroup.com, as a channel of distribution for material company information. For more information, visit www.costargroup.com.
This news release includes “forward-looking statements” including, without limitation, statements regarding CoStar Group’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 CoStar for Lenders does not produce the expected results or provide the expected benefits to industry participants and users as stated in this release. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar Group’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, 2021, which is filed with the SEC, including in the “Risk Factors” sections of that filing, as well as 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 Group on the date hereof, and CoStar Group assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.