NEW YORK, Sept. 30, 2010 (GLOBE NEWSWIRE) -- Reis, Inc. (Nasdaq:REIS) and SNL Real Estate, two leading providers of commercial real estate data and analytical tools, today entered into an agreement to integrate Reis's market data, such as rent and vacancy statistics, into SNL's Real Estate Unlimited information service.
According to Reis's Vice President of Business Development Aziz Akin, the agreement is responsive to demand from clients of both companies. "Until now, assessing the performance of properties held by a REIT has been largely dependent on REIT self-disclosure, which varies from REIT to REIT in frequency and completeness, and is almost always devoid of market context," said Mr. Akin. "What we have found is that many of our clients were also SNL's clients, and that they were manually combining REIT data from SNL with market data from Reis. This agreement will remove that burden of aggregation."
SNL's Director of Real Estate Keven Lindemann concurred. "This represents a substantial advancement in the practice of REIT analysis," he said. "SNL's clients will now be able to make buy, sell and hold decisions based on how a REIT is performing relative to the markets and submarkets where its portfolio's properties compete. The ability to benchmark against overall market performance will help investors identify REITs that best meet their criteria."
Commercial real estate is the subject of intense and growing interest among investors, analysts, and regulators. To address the demand for information on local real estate markets, Reis has announced an initiative to redistribute its data on up to 200 metropolitan areas through third parties, including leading national and international information providers. According to Mr. Akin, "Knowledgeable product managers see the addition of Reis data as a way to distinguish their products from those of their competitors and thus win more business."
Reis, through its flagship product, Reis SE, provides online access to a proprietary database of commercial real estate information and analytical tools. In addition to trend and forecast analysis at metropolitan and neighborhood levels throughout the U.S., Reis offers detailed building-specific information such as rents, vacancy rates, lease terms, property sales, new construction listings and property valuation estimates. Reis SE is 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 SNL Real Estate
SNL Real Estate, a division of SNL Financial, is the premier provider of data, news and analytics for global real estate securities in North America, Europe and Asia-Pacific. SNL collects, standardizes and disseminates all relevant corporate, financial and market data -- plus news and analysis -- for real estate securities around the world. Other business sectors covered by parent company SNL Financial include Banking, Financial Services, Insurance, Energy and Media & Communications. For more information, visit .
CONTACT: Reis, Inc. Redistribution Opportunities: Aziz Akin, Vice President, Business Development (212) 921-1122 Investor Relations: Mark P. Cantaluppi, Vice President, Chief Financial Officer (212) 921-1122 SNL Real Estate Sales: Elbert Ruff, Manager, Institutional Sales (212) 341-7312 SNL Financial Press: Monica Jenkins, Press Relations Manager (434) 951-6951