NEW YORK, Feb. 14, 2011 (GLOBE NEWSWIRE) -- Reis, Inc. (Nasdaq:REIS), a leading provider of commercial real estate market information and analytical tools, announced today that it has reached an agreement with FactSet Research Systems Inc. (NYSE:FDS) (Nasdaq:FDS), a premier information vendor of financial information, to distribute the company's popular Reis Observer reports within the FactSet platform. Reis Observers are comprehensive quarterly written analyses of market conditions for all commercial real estate property types in the top fifty U.S. metropolitan areas. These reports provide investors with critical information on market conditions that affect the performance of REIT and CMBS properties located in those metros.
According to Reis's Vice President of Business Development, Aziz Akin, the agreement responds to growing demand throughout the world for insight into the U.S. commercial real estate market. "Beyond our current client base are thousands of new potential customers who will benefit from the information that we are making available through FactSet. Over time, we expect that some of these users will enter into agreements with Reis directly in order to gain access to the full suite of reports and analytical modules that our writers use when crafting the Reis Observers, and that our clients use when making investment decisions."
Matt Sakey, Global Director of Research Contribution at FactSet, considers the agreement a win for FactSet users as well. "Consolidating research on one platform enables the buy-side to significantly streamline their workflow. FactSet has long provided its end users with access to information from premier research firms such as Reis, so this distribution agreement fits perfectly within our tradition."
Lloyd Lynford, Reis's CEO, emphasized that this agreement, together with its previously announced redistribution venture with SNL Financial and other agreements it expects to announce in the near future, is part of a long-term strategy designed to raise awareness of Reis's information and services. "As the appetite for commercial real estate insight continues to grow, we find that our information is its own best advertising," he said, "and we are confident that, in the long run, deals such as this one will bring us more clients who insist that a full understanding of market conditions is a prerequisite for making investment decisions."
About Reis
Reis, through its institutional product, Reis SE , and small business product, ReisReports, provides online access to a proprietary database of commercial real estate information and analytical tools. Depending on the product, users have access to trend and forecast analysis at metropolitan and neighborhood levels throughout the U.S. and/or detailed building-specific information such as rents, vacancy rates, lease terms, property sales, new construction listings and property valuation estimates. Reis's products are designed to support the decision-making of property owners, developers, builders, lenders and investors, all of whom require access to timely information on both the performance and pricing of assets, for acquisition, development and construction purposes, as well as valuation.
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About FactSet
FactSet (NYSE:FDS) (Nasdaq:FDS) combines integrated financial information, analytical applications, and client service to enhance the workflow and productivity of the global investment community. The company, headquartered in Norwalk, Connecticut, was formed in 1978 and now conducts operations along with its affiliates from twenty-four locations worldwide, including Boston, New York, Chicago, San Mateo, London, Amsterdam, Frankfurt, Paris, Milan, Tokyo, Hong Kong, Mumbai, Dubai, and Sydney.
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CONTACT: Reis Contacts: Redistribution Opportunities: Aziz Akin Vice President, Business Development Reis, Inc. (212) 921-1122 Investor Relations: Lloyd Lynford President & Chief Executive Officer Mark P. Cantaluppi Vice President, Chief Financial Officer Reis, Inc. (212) 921-1122 FactSet Contacts: Sales: Matt Sakey Global Director of Research Distribution FactSet Research Systems Inc. (203) 810-1000 Press: Meredith Binder Vice President, Global Marketing FactSet Research Systems Inc. (203) 810-1000