Reis Completes the Introduction of Reis Subscriber Edition 2.0
Published on Monday, 09 July 2012 08:57 Written by TradersHuddle Staff
NEW YORK, July 9, 2012 (GLOBE NEWSWIRE) -- Reis, Inc. (Nasdaq:REIS) ("Reis" or the "Company"), a leading provider of commercial real estate market information and analytical tools, today announced the completion of the systematic release of Reis Subscriber Edition 2.0 across its subscriber base. Reis SE 2.0 is a major upgrade of the Company's industry leading flagship product. The significant enhancements solidify Reis SE 2.0 as the must-have utility for any bank, investment firm, government institution, or broker that is engaged in commercial real estate activity in the United States, deepening Reis's entrenchment among its base of renewable clients, and strengthening its appeal among prospects. Reis SE 2.0 is the centerpiece of the Company's 2012 and long-term growth strategy—it bolsters Reis's ability to provide unparalleled service to the hundreds of thousands of professionals engaged in U.S. commercial real estate.
"In Reis SE 2.0 we have added a host of features requested by our clients," said Reis's Chief Operating Officer, Bill Sander. "For example, we are now presenting all three property comparables—rent, sales, and new construction—on a single map interface and within a single report. By typing in a single address, an executive or an analyst can get a complete picture of the local competitive landscape. Users never have to re-key property addresses and they receive email alerts when we update local market information or discover nearby sales and construction activity."
Other key features of the new release include fully customizable report contents, the ability to upload a corporate logo or picture for private labeling purposes, saved report templates and searches, and easy map-based navigation in up to 200 markets and over 6,300 market segments among the five property types that Reis currently covers.
Chief Executive Officer Lloyd Lynford sees the release as a continuation of the Company's consistent track record of product enhancements. "We have long been determined to ensure that our clients are the best informed parties at any negotiating table, or when making any investment decision," Mr. Lynford said. "Since the introduction of Reis SE in 2001, we have consistently increased our geographic and property type coverage and added sales transactions, cap rate trending data and discounted cash flow functionality to our already impressive roster of market and submarket reports. Reis SE 2.0 wraps all of this indispensable information in an impressive, easy-to-use, interface with industry-leading functionality."
Reis, founded in 1980, provides commercial real estate market information and analytical tools for its subscribers. Reis maintains a proprietary database containing detailed information on commercial properties in metropolitan markets and neighborhoods throughout the U.S. The database contains information on apartment, office, retail, warehouse/distribution and flex/research & development properties and is used by real estate investors, lenders and other professionals to make informed buying, selling and financing decisions. In addition, Reis data is used by debt and equity investors to assess, quantify and manage the risks of default and loss associated with individual mortgages, properties, portfolios and real estate backed securities. Reis currently provides its information services to many of the nation's leading lending institutions, equity investors, brokers and appraisers.
Reis, through its flagship institutional product, Reis SE 2.0, and through its 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.
The Reis, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7042
Cautionary Statement Regarding Forward-Looking Statements
This press release, together with other statements and information publicly disseminated by Reis, Inc., may contain 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 or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Please refer to Reis's annual, quarterly and current reports on file with the SEC for a more detailed discussion of various risks that could cause results to differ materially.
CONTACT: Mark P. Cantaluppi Vice President, Chief Financial Officer Reis, Inc. (212) 921-1122
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