NEW YORK, NY - Reis, a leading provider of commercial real estate market information and analytical tools, announced that it has redesigned its most popular property level report, Apartment Rent Comps, to include new structural details and comparative performance analytics. With photographs, unit mix, contact information, effective rent at the property level, sales transaction history, and numerous illustrative charts and graphs, the report is expected to fortify Reis’s position as the preferred source for comparables among all real estate professionals involved in buying, selling, leasing, or managing multifamily assets.
“For years, Reis’s apartment rent comps have been the industry standard for consistency and reliability,” said Reis’s CEO, Lloyd Lynford, “and the next generation report that we are announcing today unlocks still additional value from our organically grown, proprietary property database.”
The release is part of a two-pronged campaign of aggressive product development that will see Reis add similar details to property level reports in other sectors, while also introducing high level analytical modules that take a broader perspective across markets and geographies: The Company is in the late stages of developing a module that will allow portfolio managers and c-level executives to look for market opportunities based on Reis’s forecasts at the market and submarket level.
“We believe there is market share available on the front lines of the nation’s real estate market, where brokers, originators and managers require the kind of property level detail that we are now providing in our rent comps reports,” said Reis’s President and COO, Bill Sander. “We also see opportunity at the other end of the spectrum, among the portfolio managers at our large institutional clients, who must take a national view when considering where to put capital at risk.”
Also slated for release in 2016 is the Company’s coverage of the Low Income Housing Tax Credit sector—at a time when population and income vectors ensure that demand for affordable housing will only increase in the years to come.
Mr. Lynford said, “Our product development plans in 2016 are a continuation of our long history of reinvestment into the foundation of our business to ensure that Reis SE remains indispensable to an ever wider range commercial real estate professionals.”