WASHINGTON, Sept. 26, 2011 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), commercial real estate's leading provider of information and analytic services, today announced that Hans G. Nordby has been promoted to Managing Director of its Property and Portfolio Research (PPR) division. In addition, industry veteran Walter Page has joined PPR as Director of Research. He will specialize in the office sector, provide thought leadership and lead PPR's research efforts. Both are based in PPR's Boston office.
Nordby has been with PPR since 2002. Most recently he was Director of Advisory Services, where he managed custom strategic research efforts for large public and private pension funds, pension fund advisors, bank holding companies and REITs. Nordby has extensive experience providing clients with commercial real estate insights on portfolio strategy, target market selection, relative value and custom scenario analyses, and acquisition/disposition studies. As Managing Director, he will lead a team of 70 professionals, including 47 economists located in Boston, Washington, DC, and the United Kingdom.
"Hans is a dynamic leader who is extremely visible and well known in the institutional investment marketplace," said Andrew C. Florance, Founder and Chief Executive Officer of CoStar Group. "Hans will work to continue to build upon PPR's leadership position in analytics and work closely with me to further integrate analysis in the CoStar offering. We expect that he will continue to be a valued senior advisor to our clients."
Page has more than 25 years of commercial real estate experience and a successful track record in leading teams to provide cutting edge real estate research. He was formerly Managing Director of Research at American Realty Advisors, Vice President of Research at Equity Office and Vice President of Research at LaSalle Investment Management, all in Chicago, IL. In each of those senior research positions, Page was charged with creating the corporate view, tracking and forecasting real estate markets, and advising in the assumptions used for strategic buy-and-sell decisions, which contributed to above-average investment returns during his tenure.
"Walter brings a vast wealth of knowledge and experience to our team and clients," said Florance. "Research is the foundation for the analytics and forecasting we provide our clients, and Walter is a valuable addition for both his leadership and his innovative and insightful approach to commercial real estate research."
CoStar plans to announce additional senior level appointments to PPR's research and quantitative teams with an emphasis on strengthening property sector specialization, Florance stated.
About Property and Portfolio Research
Property and Portfolio Research (PPR) provides unparalleled expertise and objective thinking in analyzing and forecasting commercial real estate markets. PPR sets the pace in offering independent research, a unique set of analytic tools, and actionable insights to commercial real estate investors on hundreds of global markets in North America and Europe. Clients range from commercial banks and financial institutions to pension funds and insurance companies, as well as government and rating agencies.
With a dedicated commitment to providing the best in commercial real estate research, PPR's widely respected knowledge of the markets allows clients to stay ahead of market trends, act decisively, and feel confident about their investment decisions. PPR is a division of CoStar Group.
About CoStar Group, Inc.
CoStar Group (Nasdaq:CSGP) is commercial real estate's leading provider of information and analytic services. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe with a staff of approximately 1,500 worldwide, including the industry's largest professional research organization. For more information, visit www.costar.com.
This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. More information about potential factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including CoStar's Form 10-K for the year ended December 31, 2010, and Form 10-Q for the quarter ended June 30, 2011, under the heading "Risk Factors." In addition to these statements, there can be no assurance that PPR's leadership position in analytics will continue to grow; that Nordby will continue to be a valued senior advisor to our clients; and that by using PPR's services, Clients will stay ahead of market trends, act decisively and feel confident about their investment decisions. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements, whether as a result of new information, future events or otherwise.