CoStar Group Acquires BureauxLocaux, a Leading Commercial Property Digital Marketplace in France

WASHINGTON–(BUSINESS WIRE) – CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of commercial real estate information, analytics and online marketplaces, today announced the acquisition of COMREAL INFO, the owner and operator of BureauxLocaux.com.

BureauxLocaux, based in Paris, is one of the largest specialized real estate portals for buying and renting commercial property in France, with over 60,000 sales and rentals and over 425,000 website visits every month. BureauxLocaux was founded in 2008 and offers a subscription-based commercial property listing platform with a customer base that includes over 90% of the leading French real estate agents. The number of hits on the company’s website, BureauxLocaux.com, has increased by over 30% on an annual basis since the beginning of 2018.

The CoStar Group is a leading global provider of digital commercial real estate marketplaces with approximately 90 million unique visitors per month through its network of websites in the US and Europe. CoStar Group’s marketplaces generate nearly $ 1 billion in annual sales and include Apartments.com and LoopNet.com in the United States, Realla.co.uk in the United Kingdom and Belbex.com in Spain. Over the past decade, the CoStar Group has invested billions of dollars in building its leading online real estate marketplaces, generating hundreds of millions of leads that resulted in millions of successful commercial real estate transactions.

“The acquisition of BureauxLocaux is an important step in the continuation of our international expansion,” said Andrew C. Florance, Founder and Chief Executive Officer of the CoStar Group. “France is one of the largest commercial property markets in Europe with an estimated annual transaction value of 40 billion euros. BureauxLocaux has built a leading platform for commercial real estate offers with national coverage, great brand awareness and an excellent reputation with its customers. ”

“We are delighted to welcome the BureauxLocaux team to the CoStar family,” continued Florance. “This is an attractive acquisition that perfectly complements our other European marketplaces Belbex and Realla.”

Sophie Desmazières, founder of BureauxLocaux, added: “We are delighted to be part of the CoStar Group. The commercial real estate industry deserves a high quality, industry-specific online marketplace to better serve brokers and property owners. Backed by the extensive resources and know-how of the CoStar Group, we believe that we can accelerate the growth of BureauxLocaux and strengthen its market position in France. ”

About CoStar Group, Inc.

CoStar Group, Inc. (NASDAQ: CSGP) is a leading provider of information, analytics and online marketplaces for commercial real estate. CoStar was founded in 1987 and carries out extensive, ongoing research to create and maintain the largest and most comprehensive database of commercial property information. Our suite of online services enables clients to analyze, interpret and gain unmatched insights into commercial property values, market conditions and current availabilities. STR provides world-class data benchmarking, analysis and market insights for the global hospitality industry. Ten-X provides a leading platform for conducting online commercial property auctions and negotiated bids. LoopNet is the busiest online marketplace for commercial real estate. Realla is the UK’s most comprehensive digital commercial real estate marketplace. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com are the leading online housing resource for renters looking for great apartments and offer property managers and owners a proven platform for marketing their properties. Homesnap is an industry leading online and mobile software platform that provides easy-to-use applications to streamline the real estate agent’s workflow and strengthen the broker-client relationship. Homes.com provides real estate professionals with residential property advertising and marketing services. The CoStar Group’s websites attract tens of millions of visitors a month. CoStar is headquartered in Washington, DC and has offices in the US, Europe, Canada and Asia with approximately 4,900 employees worldwide, including the largest professional research organization in the industry. Further information is available at www.costargroup.com.

This press release contains “forward-looking statements” including, without limitation, statements regarding CoStar’s expectations, beliefs, intentions or strategies regarding the future. These statements are based on current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could lead or contribute to such differences: the risk that BureauxLocaux will not be able to accelerate its growth and strengthen its market position in France; the risk that the businesses of BureauxLocaux and CoStar Group will not be merged successfully or in a timely and cost-effective manner; the risk that the merger and integration of BureauxLocaux will disrupt the operations of the CoStar Group or result in the loss of customers or key employees; the risk that the acquisition of BureauxLocaux will not produce the expected benefits or results for CoStar or BureauxLocaux or their customers; Uncertainty about the impact of the COVID-19 pandemic, including volatility in the international and US economies, absenteeism or decreased worker productivity, quarantines or other travel or health restrictions; the duration and severity of the COVID-19 pandemic; the pace of recovery from the COVID-19 pandemic; and government and private measures to contain the spread of COVID-19. Additional information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements includes, but is not limited to, those in CoStar Group’s filings from time to time with the Securities and Exchange Commission, including in the CoStar Group Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021, each filed with the SEC, including in the ” Risk Factors ”in these filings, as well as CoStar’s other filings with the SEC, which are available on the SEC’s website (www.sec.gov). All forward-looking statements are based on information available to the CoStar Group as of the date of this publication and the CoStar Group assumes no obligation to update or revise any forward-looking statements as a result of new information, future events or for any other reason.