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CoStar Group Appoints Walter Bialas as Senior Market Advisor for Washington, DC Region

/ Source: GlobeNewswire

WASHINGTON, Sept. 22, 2010 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), the country's number one provider of commercial real estate data and analytic services, today announced the appointment of Walter Bialas as Senior Market Advisor for the Washington, DC region.

With more than 25 years of creative problem-solving experience in the consulting, banking and development industries, Bialas has comprehensive knowledge of the commercial real estate market for the greater Washington metropolitan area. In addition, Bialas has experience in effectively assessing market dynamics and their implications for commercial real estate assets, investments and project feasibility.

In his new role, Bialas is responsible for enhancing the research capabilities of CoStar Group and Property and Portfolio Research (PPR), a CoStar company, as well as expanding the potential services available to the company's clients in the Washington, DC region.

"We are extremely pleased to welcome Walter to the CoStar team and look forward to the contributions he will add to our service capabilities in the Washington, DC region," stated Josh Scoville, Director, US Equity Research of PPR, a CoStar Group company. "Washington, DC is a critical market for us, and this hiring is a testament to our dedication to providing unparalleled service to our clients with interests in the Washington, DC market."

Prior to joining CoStar, Bialas oversaw Madison Marquette's research function as part of the company's investment and acquisitions team for retail properties across the U.S. 

Additionally, Bialas previously established an internal real estate consulting group at PNC Bank. During his 14-year tenure with PNC, he provided custom market due diligence in support of the bank's commercial underwriting process, evaluating unique location dynamics, market issues and the reasonableness of pro forma assumptions. Projects evaluated at PNC were located across the U.S. and covered all the major property types, with special expertise in mixed use, retail and affordable housing.

Before joining PNC, Bialas spent 10 years with the national consulting practice of GA/Partners - Arthur Andersen in Washington, DC. While a senior manager there, he advised clients on the market and financial feasibility of proposed projects across the US. 

Bialas' professional affiliations include active membership with the Urban Land Institute (ULI), including completion of seven advisory panels addressing a variety of downtown master planning and redevelopment issues. Bialas also served on the Pittsburgh District Council's executive committee and is a member of the International Council of Shopping Centers (ICSC), currently serving as chair of the group's North American Research Task Force.

Bialas received his bachelor's degree in Urban Studies from Albright College in Reading, Pa and his master's degree in City and Regional Planning from Catholic University in Washington, DC.

About CoStar Group, Inc.

CoStar Group, Inc. (Nasdaq:CSGP) is the number one provider of information, marketing and analytic services to commercial real estate professionals in the United States as well as the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of commercial real estate information throughout the U.S. as well as in the United Kingdom and France. Headquartered in Bethesda, Md., CoStar has approximately 1,500 people working for the company worldwide, including the largest professional research organization in the industry. For more information, visit CoStar.

This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. More information about potential factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including CoStar's Form 10-K for the year ended December 31, 2009 and Form 10-Q for the quarter ended June 30, 2010, under the heading "Risk Factors." In addition to these statements, there can be no assurance that CoStar will enhance its research capabilities (or those of Property and Portfolio Research), or expand the potential services available to the company's clients in the Washington, DC region. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements.

CONTACT: CoStar Group, Inc. ANALYSTS/INVESTORS: Brian J. Radecki, Chief Financial Officer (301) 664-9132 MEDIA: Vikki Kayne, Senior Director, Media Relations (301) 280-3858