NEW YORK, May 5, 2014 (GLOBE NEWSWIRE) -- Reis, Inc. (Nasdaq:REIS) (Reis or the Company), the most trusted provider of commercial real estate market information and analytical tools, today announced the launch of the nation's first independent coverage of the Seniors Housing sector. Until now, market participants have had to make do with promotional trade association information that lacks essential data, such as property level rents. Lenders, investors, developers, and operators in the increasingly significant sector may now turn to Reis for a full set of analytical reports covering the four primary categories of Seniors Housing: Independent Living, Assisted Living, Memory Care, and Skilled Nursing. Coverage extends to 184 submarkets in 57 major U.S. metros. Among the highlights of the offering are:
- Detailed Rent Comparables, including rents by care type, vacancy rates, and notable amenities;
- Sales Comparables, including buyer, seller, sale date, and purchase price;
- Construction Comparables, including projected completion date and expected care type;
- Submarket Reports, including rent and vacancy analysis by primary facility type and construction vintage; and
- Metro Reports, including performance history and comparisons to the region and nation.
"We have gathered information on Seniors Housing for many years as part of our proprietary commercial real estate data collection efforts, giving us a strong historical base of information and insight," said Reis's CEO, Lloyd Lynford. "The importance of Seniors Housing to our subscribers drove our decision to launch formal coverage, and to apply the same disciplined research methodology that we've long brought to our ongoing monitoring of the U.S. Apartment, Office, Retail, Warehouse/Distribution, Flex/R&D, and Self Storage markets. Seniors Housing is already estimated to be more than $300 billion, and it is demographically inevitable that the sector will become increasingly important as the nation's baby boomers age into the seniors population. We look forward to the contribution that our Seniors Housing product will make both to our clients' businesses and to Reis's revenue and EBITDA growth."
This is the fourth new sector that Reis has added in as many years, following the introduction of coverage for the Warehouse/Distribution, Flex/R&D, and Self Storage sectors.
"The launch of Seniors Housing is in keeping with our commitment to being the preferred choice for commercial real estate information and decision support tools among all commercial real estate professionals," said Bill Sander, President and COO of Reis Services. "The new offering supports Reis clients as they take advantage of the coming wave of investment activity in Seniors Housing, and widens the already significant competitive moat between Reis and other sources of commercial real estate information."
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 and self storage 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; and Mobiuss Portfolio CRE, or Mobiuss, 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.
CONTACT: Press Contact: Michael J. Richardson Executive Vice President, Sales and Marketing Reis, Inc. (212) 921-1122