Bozzuto Leverages CoStar Market Analytics to Help Clients Act on New Opportunities in Real Time

As a developer, builder and third-party manager of some of the most prominent multifamily and mixed-use communities in the country, Bozzuto relies on timely, contextual data to help its clients quickly act on new opportunities.

From information on changing market conditions and ownership interests for customers looking to expand their portfolios, to comparative reports that help regional property managers assess and set competitive rents, Bozzuto relies on real-time information to help its partners make the most informed and profitable choices.

The Opportunity

Bozzuto sought to broaden its knowledge database in order to improve the quality and accuracy of its information reports – which the company used to advise its internal and third-party clients on a monthly basis.

Until now, there was no provider delivering real-time multifamily data, and acting on out-of-date information could have material consequences on their business.

It is clear that CoStar is dedicated to its multifamily product through investments and continuous improvements to the service. A company with Bozzuto’s reputation, expertise and geographic footprint needs a product like Costar Market Analytics to assess its markets and opportunities.

Mark Franceski | Director of Research


The CoStar Market Analytics Solution

Bozzuto’s access to CoStar Market Analytics means it now has:

  • Real-time, constantly verified and updated information about competitor rents, occupancies, and concessions – down to the individual unit level.
  • A rich media library with millions of exterior and interior photos, 3D video walkthroughs, and floorplans.
  • Comprehensive analysis of rent, occupancy and construction trends – compiled based on Bozzuto’s specific preferences.
  • To-the-minute reports on new construction plans, captured by researchers in the field and via aerial views.

"CoStar Market Analytics allows us to generate customized reports on our own and since our expanded access allows us multiple users, dozens of team members are able to utilize the system in the way that benefits them the most,” said Mark Franceski, Bozzuto’s Director of Research. “The breadth of the product allows us to analyze multiple aspects of our business and make sound decisions, particularly as we expand to new markets." 

The Results

Since adopting CoStar Market Analytics, Bozzuto has real time information on every property, neighborhood, submarket, market, and trends the company cares about.

“We had a great need to be able to access comprehensive, insightful information. Our clients expect timely analysis from us and we can now provide this better than ever before,” said Franceski.

  • Bozzuto research analysts now access real-time market conditions, and use that information for underwriting purposes.
  • Bozzuto regional property managers use comparative reports to set their rents properly, and understand how their neighborhoods and communities are trending in terms of development and growth forecasting.
  • Bozzuto business developers better discern ownership interests when entering new markets and contemplating development expansion into new cities.

The Opportunity:

Improve quality and accuracy of reports; advise clients based on real-time market information.


The Solution:

CoStar Market Analytics– delivering real-time effective rent and sale comps, competitive construction activity, market trends and more.


The Results:

Accurate, real-time data for underwriting reports.
Timely competitive rent data to maximize rents and occupancy.
Better informed business development decisions.

Bozzuto

is a diversified residential real estate company focused on creating extraordinary experiences of home and community. Since 1988, Bozzuto has developed, built and acquired more than 38,000 homes and apartments, and today, manages more than 53,000 apartment residences, ranging from luxury homes and apartments to affordable housing solutions.


CoStar Market Analytics

is for multifamily professionals who need to immediately access what rents their competitors are charging this minute; understand the concessions they’re offering right now; and set rents competitively to achieve the highest possible incomes on their properties. CoStar Market Analytics provides information and insights on over 470,000 multifamily properties across 368 markets. Rent data is real-time, with 75,000 property updates daily and six million rent observations per month.