WASHINGTON, July 18, 2014 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, today announced the promotion of Brad Long to President of Apartments.com, its online apartment rental marketplace. Mr. Long will be responsible for managing the sales and marketing operations of Apartments.com and will report to CoStar Group Founder & Chief Executive Officer Andrew C. Florance.
"Brad is a strong leader with tremendous business experience and outstanding relationships with apartment community owners and managers," said Florance. "With 19 years of advertising experience and eight years of experience in the multifamily housing industry, Brad is well qualified to help drive future growth of Apartments.com while strengthening the company's position as a leader in the multifamily housing internet listing space."
Mr. Long has been with Apartments.com since 2006, having served most recently as Vice President of Sales. His focus as president will be enhancing the user experience on Apartments.com, generating increased exposure to deliver more qualified leads to customers and ensuring that Apartments.com is the most well-known and preferred brand in the multifamily housing industry. He succeeds Dick Burke, who is leaving the Company to pursue other opportunities.
"Apartments.com has a tremendous opportunity to leverage CoStar's extensive multifamily database and online marketplace expertise to enhance both our customer and consumer experience," said Long. "With CoStar, we have the ability to provide more real estate solutions to our customers that own or manage multifamily properties."
Apartments.com is a premier online apartment resource for renters, property managers and owners. Each month, Apartments.com assists millions of people with finding a place to call home. The website features nearly 20,000 rental properties—representing millions of apartments—across the United States, showcasing these listings with photos, videos and floor plans to help potential renters find their perfect fit.
CoStar Group acquired Apartments.com in April 2014 to complement the online marketplaces it operates for commercial real estate, including office, retail, industrial and commercial land. With the addition of Apartments.com, CoStar Group provides access to one of the largest online apartment rental marketplaces. CoStar Group maintains the industry's largest multifamily database with over 320,000 apartment communities and 17 million units throughout the U.S.
About CoStar Group, Inc.
CoStar Group, Inc. (Nasdaq:CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. Through LoopNet, the Company operates the most heavily trafficked commercial real estate marketplace online with more than 8 million registered members. Apartments.com is a premier online apartment resource for renters that matches apartment seekers with great apartment homes and provides property managers and owners a proven platform for marketing their properties. CoStar operates websites that have approximately 16 million unique monthly visitors in aggregate. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe with a staff of over 2,300 worldwide, including the industry's largest professional research organization.
Forward-looking statements
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about CoStar's plans, objectives, expectations and intentions and other statements including words such as "hope," "anticipate," "may," "believe," "expect," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology. Such statements are based upon the current beliefs and expectations of management of CoStar and are subject to significant risks and uncertainties. Actual results may differ materially from the results anticipated in the forward-looking statements. The following factors, among others, could cause or contribute to such differences: the risk that CoStar and Apartments.com are unable to achieve the goals set forth in this release as or when expected, including future growth while strengthening Apartments.com's position as a leader in the multifamily housing internet listing space; the risk that Apartments.com is unable to leverage CoStar's database and expertise to achieve enhanced customer and consumer experiences; and the risk that the number of real estate solutions for Apartments.com customers are not increased. Additional factors that could cause results to differ materially from those anticipated in the forward-looking statements can be found in CoStar's Annual Report on Form 10-K for the year ended December 31, 2013, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, each of which is filed with the SEC, including in the "Risk Factors" section of those filings, as well as the company's other filings with the SEC available at the SEC's website (www.sec.gov). CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.