NEW YORK, May 29, 2014 (GLOBE NEWSWIRE) -- Reis, Inc. (Nasdaq:REIS) ("Reis" or the "Company"), a leading provider of commercial real estate market information and analytical tools, and Building Owners and Managers Association (BOMA) International, today announced a new marketing alliance providing BOMA members with specialized pricing for ReisReports. Under this arrangement, BOMA will provide its members with a link from the BOMA website, www.boma.org, to the ReisReports website at www.reisreports.com where they can learn about and subscribe to Reis's industry-leading commercial real estate market and transaction data. BOMA will also promote ReisReports to its members through its website, through email and other channels.
"We're very pleased to establish this relationship with Reis," said BOMA International Chair Rich Greninger, managing director with Carr Properties. "This alliance is just another example of how BOMA provides value to its members. As a recognized leader in commercial real estate information, this new marketing alliance with Reis provides our members with easy access to the information they need to analyze and make better decisions regarding the properties they own and manage."
ReisReports provides rent, sales and construction comparable reports for 275 metro areas and more than 6,800 market segments across the United States. The service provides access to Reis's proprietary database of property level transactions, rents, vacancies and construction activity for apartment, office, retail, warehouse/distribution, flex/research & development, self storage and seniors housing properties, as well as Reis's Metro and Submarket Reports for these sectors.
"BOMA is one of commercial real estate's leading trade organizations," said Bill Sander, President and COO of Reis Services. "This marketing alliance will allow us to extend our reach to this important market of building owners and managers. We are pleased to be able to provide them with this enhanced access to ReisReports. This is the fourth marketing alliance with leading industry trade groups that Reis has established, underlying the attractiveness of Reis's commercial real estate information and reaffirming Reis's commitment to being the preferred choice for commercial real estate professionals in all markets."
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 and seniors 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; 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.
About BOMA International
The Building Owners and Managers Association (BOMA) International is a federation of 93 BOMA U.S. associations and 14 international affiliates. Founded in 1907, BOMA represents the owners and managers of all commercial property types including nearly 10 billion square feet of U.S. office space that supports 3.7 million jobs and contributes $205 billion to the U.S. GDP. Its mission is to advance a vibrant commercial real estate industry through advocacy, influence and knowledge. Learn more at www.boma.org.
CONTACT: Sales Contact: Justin Peterson Product Marketing Manager Reis, Inc. (212) 921-1122 Investor Relations: Mark P. Cantaluppi Vice President, Chief Financial Officer Reis, Inc. (212) 921-1122