CoStar Group Wins Multiple Awards for News Reporting From The National
Association of Real Estate Editors
Annual Journalism Awards Recognize Excellence in Reporting, Writing and
Editing News Stories on Commercial and Residential Real Estate
WASHINGTON, June 13, 2013 (GLOBE NEWSWIRE) -- CoStar Group, Inc.
(Nasdaq:CSGP), commercial real estate's leading provider of information,
analytics and marketing services, today announced that three of its real
estate journalists won news reporting awards from the National Association of
Real Estate Editors (NAREE). The annual awards, which recognize excellence in
reporting, writing and editing news stories about commercial and residential
real estate, were announced last week at NAREE's 47^th Annual Real Estate
Journalism Conference held in Atlanta, Georgia.
A panel of expert judges from the E. W. Scripps School of Journalism at Ohio
University selected all award winners. Professor Patrick S. Washburn, a former
news reporter and editor, chaired the panel. Other top award winners included
The New York Times, The Wall Street Journal, Inman News and Consumer Reports.
CoStar Senior News Editor Randyl Drummer won the Gold Award in the Best Series
by an Individual category for his four-part series, "The De-Malling of
America," which examined the national scope of distress afflicting many of the
nation's older and obsolete enclosed shopping malls. Drummer's series detailed
the changing preferences of shoppers, and the challenges investors and
municipalities face in repositioning or finding an adequate adaptive reuse for
Commenting on the Gold-winning entry, the NAREE judges said: "The stories
reported on the interesting phenomenon of the gap between strong and weak mall
properties, which prompted a sell-off of weaker properties, leading to the
redevelopment or repurposing of some of them. The question is: who wants to
buy a dying mall? And these stories answered that. The writing is clear and
avoids jargon, and explains the developments in a way that both lay people and
developers can understand."
CoStar's news team also won the Silver Award in the Best Series by an
Individual, taking two of the three medals in this news category. Winning
second place was CoStar News Editor Justin Sumner's "Financing Green," a
three-part series that provided an in-depth look at options and obstacles for
financing sustainability improvements in a recovering commercial real estate
In addition, Senior News Editor Mark Heschmeyer won the Bronze Award in the
highly competitive Best Investigative Report or Investigative Series category
for his three-part series on the causes and implications of the sudden and
unexpected recovery in the U.S. land investment market after a seven-year
"We are very proud to be recognized by the National Association of Real Estate
Editors for the quality of our news reporting," said CoStar CEO Andrew C.
Florance. "Industry-focused news is a valuable complement to the comprehensive
data we provide our clients. Together, our news and information deliver a
fuller and more complete understanding of what's going on in the market.
CoStar's news coverage is an important part of our offering in the U.S. and in
CoStar has served as a primary news source for the commercial real estate
industry for more than two decades. The firm's U.S. news operations are led by
a team of journalists with a combined 60 years of experience reporting on 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. In 2012, CoStar published more than 8,000 news reports, qualifying as
one of the largest sources of commercial real estate industry news.
About CoStar Group, Inc.
CoStar Group (Nasdaq:CSGP) is commercial real estate's leading provider of
information, analytics and marketing 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. Through LoopNet, the Company operates the most heavily
trafficked commercial real estate marketplace online with more than 7 million
registered members. CoStar operates websites that have approximately 10
million unique monthly visitors in aggregate. Headquartered in Washington, DC,
CoStar maintains offices throughout the U.S. and in Europe with a staff of
approximately 2,000 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 based upon current
beliefs and 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 Annual Report on Form
10-K for the year ended December 31, 2012, and CoStar's Quarterly Report on
Form 10-Q for the quarter ended March 31, 2013, under the heading "Risk
Factors" in each of these filings. 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.
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