WASHINGTON, Aug. 20, 2014 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP) ("CoStar") today announced that it recently won three journalism awards from the National Association of Real Estate Editors (NAREE) for the quality of its industry-focused news. The awards recognize excellence in reporting, writing and editing news stories about commercial and residential real estate, in print, online or broadcast. The winners of NAREE's 64th Annual Real Estate Journalism Awards were announced at the organization's annual conference held in Houston, Texas.
A faculty panel from the E.W. Scripps School of Journalism at Ohio University selected the award winners based on clarity of writing, objectivity, originality and depth of reporting. Professor Emeritus Patrick S. Washburn, a former news reporter and editor, chaired the panel. Other top award winners for commercial real estate coverage included The Wall Street Journal, Bloomberg News and Reuters.
"News reporting has always been an important component of the information we provide to commercial real estate professionals and we are proud to be recognized for the quality of our news reporting by the National Association of Real Estate Editors," commented CoStar Group Founder and CEO Andrew C. Florance. "The news we report and the information we gather through our research provide our clients with a fuller and more complete understanding of trends and transactions in the market."
CoStar News won two of the three awards given in NAREE's "Best Commercial Report" category. Senior News Editor Mark Heschmeyer won the Silver Award for "Who's Afraid of Social Media?" In commenting on the piece, the judges noted how the story punctured the myth of commercial real estate practitioners performing poorly with these new platforms, revealing how many are becoming increasingly comfortable with the tools of social media.
Senior News Editor Randy Drummer took home the Bronze Award in the same category for How Will Older Office Buildings Compete in the New Workplace? The judges noted that Drummer's story provided an informative look at how building owners and investors in several cities re-engineered their office spaces to meet current workplace needs.
Heschmeyer also won the Silver Award in another category, "Best Breaking News Report," for his piece on how a small, Rochester, NY-based real estate company became one of the first U.S. businesses to take advantage of the latest provision to go into effect from the Jumpstart Our Business Startups Act (or 'JOBS Act') signed into law in April 2012.
CoStar has served as a primary news source for the commercial real estate industry for more than two decades. Its team of reporters in the U.S. and U.K. includes some of the most experienced and accomplished journalists in the industry. CoStar's industry-focused reporting covers the many different facets of the industry, from the latest major transactions, to emerging trends in brokerage and new development, to financing and the capital markets. CoStar published more than 14,500 news reports in 2013 in the U.S. and U.K., qualifying as one of the largest sources of commercial real estate industry news.
About CoStar Group, Inc.
CoStar Group (Nasdaq:CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. 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. Through LoopNet, the Company operates the most heavily trafficked commercial real estate marketplace online with more than 8.7 million registered members. Apartments.com is a premier online apartment resource for renters that matches apartment seekers with great apartment homes and provides property managers and owners a proven platform for marketing their properties. CoStar operates websites with over 16 million unique monthly visitors in aggregate during second quarter of 2014. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S., Canada and Europe with a staff of over 2,300 worldwide, including the industry's largest professional research organization. For more information, visit www.costargroup.com.
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about CoStar's financial expectations, the company's plans, objectives, expectations and intentions and other statements including words such as "hope," "anticipate," "may," "believe," "expect," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology. Such statements are based upon the current beliefs and expectations of management of CoStar and are subject to significant risks and uncertainties. Actual results may differ materially from the results anticipated in the forward-looking statements. Factors that could cause results to differ materially from those anticipated in the forward-looking statements can be found in CoStar's Annual Report on Form 10-K for the year ended December 31, 2013, and Quarterly Report on Form 10-Q for the quarter ended June 30, 2014, each of which is filed with the SEC, including in the "Risk Factors" section of those filings, and the company's other filings with the SEC available at the SEC's website (www.sec.gov). CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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