NEW YORK, June 08, 2016 (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 enhancement of its popular Office Rent Comparables report to include photographs, contact information, sales transaction history, and numerous illustrative charts and graphs comparing the subject property’s performance to that of its peers, competitive submarket, and metropolitan market. Not only is the enhanced report even more valuable to Reis subscribers within commercial lending channels, the additional property level detail also positions Reis’s sales team to broaden the firm’s business at the front lines of commercial brokerage, including investment sales, mortgage origination, and space leasing.
The launch follows a similar enhancement to Reis’s Apartment Rent Comparables report in March, and further demonstrates the Company’s commitment to providing clients with unparalleled detail on structural characteristics and performance trends for individual properties.
“Reis’s trove of detailed property level performance information has long been the foundation of our market and submarket trends,” said Reis’s president and COO, Bill Sander. “By infusing our Apartment and Office Rent Comparables reports with deeper cuts of our proprietary property level intelligence, we continue the Reis tradition of placing our institutional subscribers at an informational advantage over any of their competitors who do not yet subscribe to Reis.”
In the coming weeks, the Company expects to apply similar enhancements to Rent Comparables reports for other property types, beginning with the Retail sector.
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/Investor Relations Contact: Mark P. Cantaluppi Reis, Inc. Vice President, Chief Financial Officer (212) 921-1122 Michael J. Richardson Reis, Inc. Executive Vice President, Sales and Marketing (212) 921-1122