Reis, Inc. Expands Sales Comparables Coverage to Commercial Transactions in All U.S. Markets
September 29 2016 - 8:45AM
Reis, Inc. (NASDAQ:REIS) (“Reis” or the “Company”), a leading
provider of commercial real estate market information and
analytical tools, announced today that it has expanded its
commercial real estate Sales Comparables platform to include
virtually all U.S. transactions, regardless of geography or
sector. With this release, Reis is now in a position to claim
additional subscription revenue both from current clients that are
no longer forced to divide their research budgets among multiple
vendors, and from prospect firms that, until now, may have
concentrated their investment sales intelligence budget with a Reis
competitor. The new offering is expected to appeal to mortgage and
property originators and underwriters, brokers and appraisers, and
any other real estate professional seeking the most comprehensive
database of transactions to source deals, prospect for related
business, or conduct due diligence.
“Reis has long been a one-stop shop for any firm
operating within our markets and property types,” said Reis’s
President and COO, Bill Sander, “but almost all of our large
clients have periodic need for Sales Comparables coverage in more
remote areas, or for specialty property types. With this
widening of Reis’s net to capture all of those transactions, we
have closed a potential entry point for the competition, fortifying
Reis’s position as the unassailable source for integrated market
intelligence nationwide.”
The newly added Sales Comparables will include
key structural data points, including but not limited to address,
land use code, parcel number, and lot size, in addition to key
transactional data points, such as buyer and seller name, sale
price, sale date, deed reference, and financing details when
available.
According to Mr. Sander, “The launch
demonstrates yet again Reis’s strategic responsiveness to market
conditions and client needs as we continue to position the firm for
additional revenue growth opportunities.”
Cautionary Statement Regarding
Forward-Looking Statements
Statements made or implied in this release that
are in the future tense or that are accompanied by words such as
“will,” or variations of such words are “forward-looking” and
involve known and unknown risks and uncertainties which may cause
actual results and corporate developments to differ materially from
those expected. For more information relating to the risks
and uncertainties involved in our forward-looking statements and
the Company generally, please see the Risk Factors and the
Forward-Looking Statements sections of Reis’s recent filings with
the Securities and Exchange Commission, including our quarterly
reports on Form 10-Q, annual reports on Form 10-K, and reports on
Form 8-K.
About Reis
Reis provides commercial real estate market
information and analytical tools to real estate professionals
through its Reis Services subsidiary. Reis Services, including its
predecessors, was founded in 1980. Reis maintains a proprietary
database containing detailed information on commercial properties
in metropolitan markets and neighborhoods throughout the U.S. The
database contains information on apartment, office, retail,
warehouse/distribution, flex/research & development, self
storage, seniors housing, student housing and affordable housing
properties, and is used by real estate investors, lenders and other
professionals to make informed buying, selling and financing
decisions. In addition, Reis data is used by debt and equity
investors to assess, quantify and manage the risks of default and
loss associated with individual mortgages, properties, portfolios
and real estate backed securities. Reis currently provides its
information services to many of the nation’s leading lending
institutions, equity investors, brokers and appraisers.
The Company’s product portfolio features: Reis
SE, its flagship delivery platform aimed at larger and mid-sized
enterprises; ReisReports, aimed at prosumers and smaller
enterprises; Reis Portfolio CRE, and other portfolio support
products and services, aimed primarily at risk managers and credit
administrators at banks and non-bank lending institutions. It is
through these products that Reis provides online access to a
proprietary database of commercial real estate information and
analytical tools designed to facilitate debt and equity
transactions as well as ongoing asset and portfolio evaluations.
Depending on the product or level of entitlement, users have access
to market trends and forecasts at metropolitan and neighborhood
levels throughout the U.S. and/or detailed building-specific
information such as rents, vacancy rates, lease terms, property
sales, new construction listings and property valuation estimates.
Reis’s products are designed to meet the demand for timely and
accurate information to support the decision-making of property
owners, developers, builders, banks and non-bank lenders, equity
investors and service providers. These real estate
professionals require access to timely information on both the
performance and pricing of assets, including detailed data on
market transactions, supply, absorption, rents and sale prices.
This information is critical to all aspects of valuing assets and
financing their acquisition, development and construction.
For more information regarding Reis’s products
and services, visit www.reis.com and www.reisreports.com.
Press Contact:
Mark P. Cantaluppi
Vice President, Chief Financial Officer
Reis, Inc.
(212) 921-1122
Michael J. Richardson
Reis, Inc.
Executive Vice President, Sales and Marketing
(212) 921-1122
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