Comprehensive Property Data and Analytics Give Owners, Lenders and Investors More Accurate View of Hot Multifamily Sector
With the launch this week of CoStar Multifamily(TM), CoStar adds a valuable new dimension to its service, making the same powerful information tools for office, retail and industrial property now available for the multifamily sector.
The new service follows a massive effort by CoStar's research team to aggregate and confirm details on apartment communities containing five or more units. CoStar's 1,200-plus researchers have proactively captured and verified such information as multifamily-specific submarkets, building quality, effective rents, concessions, occupancy levels, ownership, unit sizes, bed/bath mix, amenities, images and more.
As a result, CoStar now says it offers the largest and most comprehensive multifamily database in the U.S.
, with coverage on nearly 300,000 apartment communities for a total of over 16 million apartment units, believed to be more than twice the number of properties found in any other multifamily data source.
Just as with its information on office, retail and industrial property, subscribers to the CoStar Property Professional service can search and analyze multifamily properties in stunning detail. Key information features available in CoStar's new Multifamily offering include:
• Apartment building details and quality
• Asking rents, effective rents, concessions and occupancy rates
• Over 1 million sales comps (dating back to 1995)
• Site-verified construction locations and delivery schedules
• Apartment floor plans and high-resolution property images
• Detailed information on amenities, unit sizes and mixes
• A team of 50 real estate economists providing market analysis and forecasting in 210 markets
In addition to the new multifamily information being available for queries and analysis on CoStar's desktop software, it also is available on CoStarGo(R), CoStar's revolutionary iPad app for accessing information and insight on multifamily market trends outside the office.
CoStar Founder and CEO Andrew C. Florance said the new CoStar Multifamily offering fills a great need for comprehensive data in the multifamily sector.
"Multifamily is a $2 trillion asset class and is currently the hottest sector in commercial real estate
. Over $95 billion of transactions were completed in this sector during the past year," said Florance. "Whether you are buying, selling, underwriting or developing multifamily properties, CoStar Multifamily should be your number one source for making confident multifamily investment decisions."
The information and analytic tools available in CoStar Multifamily can be put to use by a broad range of multifamily real estate professionals. Investors and developers can analyze key drivers of supply and demand to make better informed decisions on potential new projects and investments.
For example, lenders can leverage CoStar's inventory of sales comps and for-sale inventory to analyze and forecast market conditions to make more accurate and informed lending decisions. Portfolio managers use the sales comps, market analytics and forecasting tools to more accurately measure apartment portfolio performance and potential.
And because CoStar's multifamily database is property-specific (and not a partial sample or subset,) users can analyze multifamily markets and trends at the macro level, and zoom in to view the most granular details for individual properties.
In addition, CoStar's Property & Portfolio Research (PPR) subsidiary, which provides forecasts and advisory services to owners and institutional investors, can now offer even more detailed and specifc strategies for investing in multifamily markets using the same researched and verified data.