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TheStreet Open House

Apartments.com Launches Field Research Blitz In Washington, DC May 6-16, 2014; Field Research Teams To Shoot Walk-Through Videos For Over 500 Communities

CHICAGO, May 6, 2014 /PRNewswire/ -- Apartment community owners and property managers in Washington, DC will be the first to benefit from CoStar Group, Inc.'s (NASDAQ: CSGP) recent acquisition of Apartments.com. Washington, DC-based CoStar is welcoming Apartments.com customers with a field research blitz aimed at producing high quality walk-through videos of over 500 apartment communities in its home market over the next two weeks.

Apartments.com is the premier online apartment resource for renters, property managers and owners.  Each month, Apartments.com assists millions of people with finding a place to call home. The website features nearly 20,000 rental properties—representing millions of apartments—across the United States, showcasing these listings with photos, walk-through videos and floor plans to help potential renters find their perfect fit.

CoStar Group is commercial real estate's leading provider of information, analytics and online marketplaces. CoStar maintains the industry's largest professional research organization with over 1,100 researchers and over 100 field research vehicles. CoStar is bringing 70 teams of field research videographers, photographers and editors to Washington, DC, May 6-16 to participate in this massive field research blitz. The teams will be visiting DC-area rental communities in specially equipped Apartments.com vehicles and coordinating with onsite property managers to produce walk-through videos and high-resolution photographs. The new video/photography packages will populate on the Apartments.com website and mobile apps, enabling potential renters to better evaluate apartments as they search for the apartment of their dreams.

The video/photography package, valued at more than $1,350 each, is being offered to Apartments.com customers in the DC area free of charge.

"Apartments.com customers already receive cost-effective, targeted marketing solutions that drive measurable exposure, high-quality traffic and leads to their businesses," said CoStar Group Founder & Chief Executive Officer Andrew C. Florance.  "These new complimentary videos and photos will add to the richer content we're creating on Apartments.com for a better user experience.  We wanted to immediately show our customers how much we appreciate their business, and give them a preview of the exciting things to come. Only CoStar could mount a research effort of this scale."

"Over our 16-year history we've developed an extensive customer base that offers apartment hunters a wide array of choices for their unique living wants and needs," said Dick Burke, President of Apartments.com. "CoStar Group has given us this opportunity to say thank you to our key market customers in a big and meaningful way. We believe that updating and increasing the number of property images and videos for an Apartments.com customer walk-through experience will be of benefit to both the apartment community and the renter."

CoStar Group acquired Apartments.com in April 2014 to complement the online marketplace it has built for commercial real estate. With the addition of Apartments.com, CoStar Group has created access to one of the largest online rental marketplaces for consumers. CoStar Group maintains the industry's largest multifamily database with over 320,000 apartment communities and 17 million units throughout the U.S.

CoStar Group and Apartments.com are considering expanding the program to other markets later this year.

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