Skip to content
Homepage
  • Market
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Real Estate Awards
  • Subscribe
  • Publications
MidwestCRE

CoStar acquires LoopNet to create massive commercial listings site

Dan Rafter April 5, 2017
Share on Facebook Share on Twitter Share on LinkedIn Share via email

Don’t think commercial real estate listings are valuable? Don’t tell that to CoStar Group.

CoStar, an online commercial real estate information service, this week entered an agreement to acquire online commercial listings site LoopNet, Inc. The transaction is valued at about $860 million.

In a press release, CoStar predicted that the combined services will become the top online resource for researching, analyzing and marketing commercial real estate properties.

Members of the boards of directors of both companies have approved the transaction. The deal is expected to close by the end of 2011.

“We are combining two innovative companies that have transformed the commercial real estate industry,” said Andrew Florance, CoStar Group’s founder and chief executive officer, in a written statement. “We believe that the combination of our two outstanding and complementary companies will lead to even more innovation and greater efficiencies.”

The addition of LoopNet’s commercial real estate listings leaves CoStar with a database that holds about 2 million active commercial listings.

The companies boast nearly 160,000 paid subscribers between them, and combined earnings of about $320 million.

Tags
Minnesota Real Estate Journal
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
IllinoisRetail

Entre Commercial Realty completes 20,000-square-foot purchase for cannabis dispensary with consumption lounge

May 26, 2022
IllinoisIndustrial

Cresa arranges sale-leaseback in Northlake

May 26, 2022
IllinoisCRE

Draper and Kramer’s Kurstie Butcher receives IREM PREMIER Accredited Residential Manager (ARM) of the Year award 

May 26, 2022
TexasMultifamily

Colliers Mortgage closes Fannie Mae loan for The Coventry Apartments in Denton, Texas

May 26, 2022

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Office Locations
  • Advertise/Editorial Calendar
© 2022 REjournals.com