NEW YORK, Feb. 26, 2015 (GLOBE NEWSWIRE) -- Reis, Inc. (Nasdaq:REIS) ("Reis" or "the Company"), a leading provider of commercial real estate market information and analytical tools, today announced a major enhancement to the Company's flagship product, Reis SE.
Seniors Housing is one of the most rapidly growing sectors of commercial real estate. The adoption of Reis's information products for this property type has contributed to Reis's strong revenue and earnings growth in 2014. Representing an asset class with an estimated value totaling more than $300 billion, Reis is the clear leader in providing crucial decision support and market analytics to Seniors Housing investors and service providers. By expanding our offering to 302 submarkets in 110 metropolitan areas, Reis will continue to benefit from burgeoning interest in this sector. This exciting enhancement continues the ongoing product development initiatives that continue to make Reis the overwhelming preference of U.S. commercial real estate investors.
Seniors Housing has blossomed from a niche commercial real estate sector into one of the major secondary property types in the industry. This growth is driven by a variety of factors, including the overall demographics of the aging baby boomer population. Our clients will now have access to Reis analysis and data in more submarkets and metros, thus no longer having to rely on promotional trade association information or other biased data sources. As was the case in the initial market coverage, commercial real estate professionals can access a full set of analytical reports covering the four primary categories of Seniors Housing: Independent Living, Assisted Living, Memory Care, and Skilled Nursing. The offering includes:
- 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.
"The increasing importance of Seniors Housing to our subscribers, as well as the overall growth and strength in the underlying market demographics, drove our decision to invest in doubling coverage of Seniors Housing," said Reis's CEO, Lloyd Lynford. "We look forward to the growing contribution that the product will make to our clients' portfolios, as well as to Reis's revenue and earnings."
This is the twelfth new sector or major coverage expansion that Reis has added in the past six years, including the introduction and expansion of coverage for the Warehouse/Distribution, Flex/R&D, and Self Storage sectors.
"The extension of Seniors Housing coverage supports Reis clients as they capitalize on growing investment activity and opportunities in Seniors Housing," said Bill Sander, President and COO of Reis Services. "We continue to strengthen the full spectrum of commercial real estate information and analysis, while other providers instead focus on narrow, limited bands of CRE investment opportunities. We are committed to being the preferred choice for commercial real estate information and decision support tools among all commercial real estate professionals."
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements may relate to Reis's or management's outlook or expectations for Reis's business, operations or performance. Forward-looking statements reflect management's judgment based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Please refer to Reis's annual, quarterly and periodic reports on file with the SEC for a more detailed discussion of various risks that could cause results to differ materially.
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.
CONTACT: Press Contact: Michael J. Richardson Executive Vice President, Sales and Marketing Reis, Inc. (212) 921-1122