NEW YORK, March 24, 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 Thomson Reuters to distribute comprehensive market information, produced by Reis's staff of research analysts, via the Thomson Reuters platform. The arrangement allows Reis to offer its proprietary market fundamentals, new construction project updates, economic and demographic trends, and recent property sales activity information beyond Reis's core customer base of commercial real estate professionals to thousands of corporate and investment executives who often make real estate decisions as part of their job responsibilities. Investment bankers, financial executives, market analysts, and others will now be able to use Reis data to support their positions in matters such as tax abatement disputes, valuation estimates, site selections, leasing negotiations, and of course acquisition and disposition decisions.
According to Reis's Vice President of Business Development, Aziz Akin, the agreement represents a significant opportunity for both companies. "Because these reports quickly convey a holistic view of what is going on in a given metropolitan area's commercial real estate market, those who subscribe to Reis directly consume them by the thousands every month," he said. "We are convinced that our reports will find a receptive new audience at Thomson Reuters, because we know that this new audience will find value in our reports."
Lloyd Lynford, Reis's CEO, emphasized that this agreement is but the latest step in a long term strategy designed to broaden Reis's exposure beyond the core of commercial real estate professionals who are the company's traditional clients. "As an information company," he said, "Reis is constantly striving to put out the best product, to set the standard for frequency of updates, and—as in this case—to project our capabilities to as many potential new users as possible. By exposing Reis information via the Thomson Reuters platform, we are introducing Reis to a broad array of financial professionals who will be pleased to discover that such detailed analytical briefings are available within the commercial real estate segment. Over time, we expect to form direct relationships with some of these new Reis users."
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: Redistribution Opportunities: Aziz Akin Vice President, Business Development Investor Relations: Lloyd Lynford President & Chief Executive Officer Mark P. Cantaluppi Vice President, Chief Financial Officer Reis, Inc. (212) 921-1122