Citing Investors' Increased Exposure in Smaller Markets, Reis, Inc. Expands Apartment Coverage by 35 Additional Markets
16 August 2007 - 1:38AM
Business Wire
Reis, Inc. (AMEX: WRP) today announced the expansion of the
company�s multifamily and commercial real estate surveillance
services by an additional 35 markets for the apartment sector,
raising the total number of markets covered to 169. The expansion
comes just twelve weeks after the company�s May announcement of a
similar addition of 52 new apartment markets. Explaining the reason
for the expansion of coverage, Reis cites the increasing importance
of smaller markets in the real estate investment picture. �As
transaction prices have climbed to record highs in the nation�s
leading apartment markets, many investors have grown their
portfolios through acquisitions in smaller metropolitan areas,�
said Chief Economist Dr. Sam Chandan. �But smaller markets present
unique liquidity and transparency risks, even more so in an
environment of tightening credit. Increasingly, our clients have
requested that we bring to bear Reis�s expertise to provide
consistent, accurate reporting of smaller markets� performance.�
For each of the new markets, the company offers its popular
property-level Rent Comparables report, as well as a new
Performance Monitor report. The Performance Monitor provides
current and historical measurements of rent, vacancy, and
inventory, as well as relevant economic and demographic
information. To facilitate the comparison of market conditions,
this information is displayed within its regional and national
context. Today�s release completes the first phase of a long-term
expansion strategy. "Reis has similar plans to expand our Office
and Retail coverage in the coming months and years,� said Reis�s
Chief Operating Officer Bill Sander. �Providing coverage in these
smaller markets reinforces our reputation as a leading source for a
wide array of market data and transaction support analytics." Rent
Comparables and Performance Monitor reports for the new markets are
available as an add-on module to Reis Subscriber Edition. About
Reis, Inc. � Reis was founded in 1980 as a provider of commercial
real estate market information and today is a leader in its field.
Reis maintains a proprietary database containing detailed
information on commercial real properties in neighborhoods and
metropolitan markets throughout the U.S. The database contains
information on apartment, retail, office and industrial properties
and is used by real estate investors, lenders and other
professionals to make informed buying, selling and financing
decisions. Reis currently provides its information services to many
of the nations leading lending institutions, equity investors,
brokers and appraisers. Note on Forward Looking Statements � This
press release, together with other statements and information
publicly disseminated by Reis, Inc. contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Reis, Inc. or industry results to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. These
risks include, but are not limited to, the failure of the company�s
expansion strategy to succeed and the failure of the company to
continue the expansion strategy. Please refer to the company�s
annual, quarterly and periodic reports on file with the SEC for a
more detailed discussion of various risks that could cause results
to differ materially.
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