CoStar acquires largest online CRE marketplace in UK

The investment in Realla, a two-year-old startup, will expand CoStar's reach in Europe

National /
Oct.October 12, 2018 01:45 PM

CoStar Group CEO Andrew Florance and Realla’s Andrew Miles (Credit: LinkedIn and Benjamin Davies via Unsplash)

CoStar Group is expanding its European footprint with its acquisition of a UK-based commercial real estate online marketplace.

The publicly-traded commercial real estate data giant announced Friday that it had acquired startup Realla for an undisclosed sum.

“When combined with the CoStar information solution it is expected to offer the best of tools for marketing properties, valuations and facilitating transactions,” Andrew Florance, CoStar’s CEO, said in a statement.

Realla is a two-year-old startup currently holds 90,000 listings. Florance told the Financial Times that CoStar will double or triple its investment in Realla to expand the firm into continental Europe. It would also reportedly share CoStar’s business-to-business listings service.

CoStar’s stock price, which dropped recently to $373 from a high of $446 in September, spiked following the acquisition announcement to $386. On Friday, the company was valued at $14.01 billion.

The Realla acquisition marks further geographic expansion by CoStar. In a September article, The Real Deal detailed how data giant’s expansion in recent years. The company entered the residential space with the acquisitions of Apartments.com and ForRent.com. In February, the company’s $385 million acquisition of ForRent, which it would use to expand Apartments.com, was approved by the Federal Trade Commission. [FT] —David Jeans 


Related Articles

arrow_forward_ios
Eric Gordon
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
essensys CEO Jeremy Bernard (iStock)
Flex workspace tech firm essensys eyes US, APAC expansion
Flex workspace tech firm essensys eyes US, APAC expansion
Michael Stern of JDS Development
Michael Stern forms $200M SPAC with former Citadel analysts
Michael Stern forms $200M SPAC with former Citadel analysts
Rentable creates tools for property owners that streamline listing, leasing and management (Getty)
Proptech startup Rentable secures $22M in Series B funding
Proptech startup Rentable secures $22M in Series B funding
Social Construct's co-founders Ben Huh and Michael Yarne (iStock)
Proptech startup Social Construct shutting down
Proptech startup Social Construct shutting down
The average iBuyer offer is now above 100 percent of market value. (iStock)
iBuyers upping offers as housing market rises
iBuyers upping offers as housing market rises
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...