BETHESDA, MD -- CoStar Group, Inc. (Nasdaq: CSGP), http://www.costargroup.com, the Internet based, leading provider of information services to the U.S. commercial real estate industry, today announced a content distribution and marketing agreement with Capital Thinking, http://www.capitalthinking.com, the premier online commercial mortgage marketplace. This agreement represents a groundbreaking vertical alliance in the online commercial real estate marketplace.
Under the terms of this agreement, CapitalThinking will become the premier advertiser for six months on CoStar's home page, as well as the front page of CoStar's newest web-enabled product, CoStar Exchange™, a buying and selling marketplace for commercial properties. As a result of this alliance, CoStar will provide the content from its CoStar COMPS™ product, the most comprehensive database on commercial real estate sale transactions, to enhance the electronic mortgage lending process developed by CapitalThinking.
"This is a significant alliance for CoStar," said Mark A. Klionsky, Senior Vice President of Electronic Media at CoStar Group, Inc. "It not only represents the Company's most substantial marketing agreement ever signed, but more strategically demonstrates the untapped potential for online advertising and marketing opportunities in our subscriber-based products."
CoStar's web site, a primary industry news source and interface for several CoStar products, attracts professionals across the commercial real estate industry daily who spend an average visitor session of 18 minutes on the site. CoStar estimates that company web sites currently have over 5 million hits a month.
"This marketing arrangement with CoStar enables CapitalThinking to have exposure to the largest pre-qualified, targeted audience of commercial real estate professionals," said Heather Shively, Co-Founder & CEO of CapitalThinking. "In addition to attracting new clients, CapitalThinking will also be able to offer our existing clients information from CoStar COMPS™ which is critical to the lending due diligence process. CoStar Group is one of the leaders in information services to the U.S. commercial real estate industry."
"After reviewing CapitalThinking's business model, we are convinced they have one of the stronger offerings in the online commercial mortgage zone," remarked Andrew C. Florance, CEO and President of CoStar Group, Inc. "Establishing this alliance with CapitalThinking allows us to leverage our key assets - research expertise, comprehensive content and a client base of the most active commercial real estate professionals - to create incremental value for the company while we remain focused on our path to profitability."
CoStar Group is actively pursuing strategic marketing and content partnerships with other Internet-based companies in select vertical niches. "We have identified specific areas where we can bring added value to our customers by partnering with market leaders in that particular zone, rather than investing our own resources to build infrastructure outside of our core competencies," Klionsky added.
Both CoStar and CapitalThinking were recently named "Best of the Web" for the real estate category in Forbes' list of Top 200 B2B companies.
About CoStar Group, Inc.
Headquartered in Bethesda, MD, CoStar Group, Inc. (Nasdaq: CSGP), is the leading provider of information services to the U.S. commercial real estate industry. CoStar's suite of products offers customers access via the Internet to the most comprehensive, verified database of commercial real estate information in over 50 U.S. markets. The company has more than 1,000 employees and contractors nationally, including over 700 highly trained commercial real estate research professionals in 27 offices. For more information, please visit http://www.costargroup.com.
About CapitalThinking, Inc.
CapitalThinking, Inc. is the only online commercial mortgage marketplace providing complete e-finance solutions to the $250 billion U.S. commercial real estate mortgage industry. By combining cutting-edge Internet technology with the largest group of experience real estate professionals in the online commercial mortgage industry, CapitalThinking brings unprecedented speed and efficiency to the commercial lending process. CapitalThinking works with 25 of the nation's top lenders, including commercial banks, insurance companies and conduits.