NEW YORK, Aug. 31, 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 the addition of 100 universities to the Company’s student housing coverage, doubling the number of colleges and universities for which Reis offers comprehensive market and property level intelligence.
“Reis’s doubling of coverage, merely months after our introduction of the sector, comes at a time of heightened interest in student housing as an investment option,” said Reis’s CEO, Lloyd Lynford. “By applying Reis’s time-tested methodology to yet another vibrant sector in need of objective and quantitative rigor, Reis brings transparency to the market, contributes to transaction efficiency, and ultimately helps to enhance capital flows.”
The expansion is responsive to Reis’s clients and prospects who seek to understand local standards for important variables, such as:
- Utility and unit/community amenities
- Leasing incentives
- Bed-to-bath parity
- Lease terms
- Proximity to campus
Reis’s student housing offering complements the seven other property types Reis monitors including: apartment, office, retail, warehouse/distribution, flex/research & development, self-storage and seniors housing. The Company offers a full suite of property and market level reports for all of these critical CRE sectors.
Bill Sander, President and COO of Reis Services, sees the release as a continuation of a now long-established tradition. “In the past two years alone,” said Mr. Sander, “we have introduced major product enhancements, such as our Executive Briefing reports at the metro, submarket, and property level, while also adding 110 Seniors Housing markets and translating our flagship product into six major languages. This latest release of additional student housing markets demonstrates our commitment to continued product development that will place even more distance between Reis and the competition.”
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.
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