NEW YORK, May 28, 2015 (GLOBE NEWSWIRE) -- Reis, Inc. (Nasdaq:REIS) ("Reis" or "the Company"), a leading provider of commercial real estate market information and analytical tools, has launched coverage of the Student Housing market for 100 major universities. Lenders, investors, developers, and operators in the increasingly significant sector may now turn to the Company’s flagship product, Reis SE, for the same full suite of property and market level reports with which Reis has long supported the Apartment, Office, Retail, Warehouse/Distribution, Flex/Research & Development, Self Storage and Seniors Housing markets. The move follows a lengthy research and development program during which Reis’s interviews with dozens of clients and prospects revealed an information deficit that translates into revenue opportunities for the Company.
“Until now, participants in the student housing market have had to perform their own research in order to supplement or correct third party information of questionable reliability,” said Reis’s CEO, Lloyd Lynford. “Reis is pleased now to apply our time-tested research methodologies to the illumination of these complex localized markets, which are characterized by the importance of proximity to campus and the pronounced advantage of newer inventory over existing stock.”
For the 100 universities included in this initial launch, Reis offers the following reports: Rent Comparables, Sales Comparables, Construction Comparables, and University market and submarket reports. Providing important information on the local standards for amenities, leasing incentives, and bed-to-bath parity, these reports also address the critical question of pre-leasing levels for the coming fall.
“With this release, our fifth introduction of a new sector since 2011,” continued Mr. Lynford, “Reis yet again demonstrates its commitment to the interests of our clients, prospects, and shareholders. In the months and years to come, we are determined to press Reis’s advantage as the indispensable source of commercial real estate information and analytics.”
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, seniors housing and student 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: Mark P. Cantaluppi Vice President, Chief Financial Officer Reis, Inc. (212) 921-1122 Sales Contact: Michael Richardson Executive Vice President, Sales and Marketing Reis, Inc. (212) 921-1122