NEW YORK, March 16, 2011 (GLOBE NEWSWIRE) -- Reis, Inc. (Nasdaq:REIS), a leading provider of commercial real estate market information and analytical tools, announced today that it has expanded its sales comparables coverage to include hotel properties in all 200 Reis markets. Each hotel Sales Comparables record helps support investors' buy, sell, and hold decisions by providing important information, such as buyer, seller, brokers, and, where available, financing details and reported cap rates.
"We are pleased to offer transaction information about hotels going back more than four years," said Reis's COO, Bill Sander, "capturing the robust activity of 2007, followed by the transaction drought, and now the nascent recovery. Sales Comparables for the other four property types that we cover are among our most popular reports, with tens of thousands of records being consumed every month, so it makes sense that we would use this module as the springboard from which to introduce an entirely new sector."
Reis's CEO, Lloyd Lynford, sees the new product as another milestone on the company's product development continuum. "Those who have been following our progress will hardly be surprised at this latest advancement," said Lynford. "Over the past four years, we have increased the number of markets that we cover for office, apartment, and retail properties, and more recently we became the only company to publish our market reports monthly rather than merely quarterly. The increased frequency of our reporting allows investors to spot turning points in markets earlier and with more precision. Concurrently, we also made product enhancements that have put more analytical power into our customers' hands, supporting a more comprehensive perspective on supply and demand fundamentals, and on the critical question of property values."
About Reis
Reis, through its flagship institutional product, Reis SE , and through its new small business product, ReisReports , provides online access to a proprietary database of commercial real estate information and analytical tools designed to facilitate debt and equity transactions as well as ongoing evaluations. 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 meet the demand for timely and accurate information to support the decision-making of property owners, developers, builders, banks and non-bank lenders, and equity investors. These real estate professionals require access to timely information on both the performance and pricing of assets, including detailed data on market transactions, supply, absorption, rents and sale prices. This information is critical to all aspects of valuing assets and financing their acquisition, development and construction.
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CONTACT: Press Contact: Michael J. Richardson Senior Vice President, Sales & Marketing Investor Relations: Mark P. Cantaluppi Vice President, Chief Financial Officer Reis, Inc. (212) 921-1122