The Peninsula Industrial Pros

Your Commercial Real Estate Source in the San Francisco Bay Area

Costar and Loopnet Agree to Merger

Two Titans in the Commercial Real Estate Industry Join Forces

Costar announced yesterday (5/26) that it entered into an agreement to acquire Loopnet, the MLS-style giant in the commercial real estate industry.  The transaction was reportedly worth $860 Million.
Costar, known for its research and analyzing platform, believes that the merger will produce a company with even more comprehensive tools and options for both individual investors and companies.  Andrew Florance, the Founder and CEO of Costar said that there is little overlap between the companies since Loopnet appeals to the general public and individual investors, while Costar with its subscription-only model, typically is used by companies and institutional investors.
If you are into Commercial Real Estate, this is big news.  Both companies, once rivals, will now essentially monopolize the commercial real estate listings and information services.  It will be interesting to see how the technology unfolds.
The full announcement can be viewed here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: