CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics, has announced a definitive agreement to acquire Visual Lease. This strategic acquisition will strengthen CoStar Group’s Real Estate Manager business, enhancing lease management and accounting solutions for corporations of all sizes.
Founded in 1996, Visual Lease is a top-tier software platform for integrated lease management, accounting, and reporting, serving over 1,500 organizations across sectors like business services, construction, healthcare, manufacturing, and retail. The platform supports every team involved in managing leased and owned assets, driving strategic financial and operational outcomes.
CoStar Real Estate Manager helps clients worldwide manage the entire lease lifecycle, offering essential applications for lease administration, accounting compliance, and transaction management. The acquisition of Visual Lease will expand CoStar’s capabilities by combining its extensive data and analytics with Visual Lease’s industry-leading lease management and accounting tools.
“Visual Lease and CoStar Real Estate Manager share the same goal—integrating all lease management functions into a single, user-friendly platform. With Visual Lease joining the CoStar Group family, we’ll be able to offer an even more comprehensive experience to our customers,” said Andy Florance, Founder and CEO of CoStar Group. “This acquisition combines our industry expertise with Visual Lease’s diverse customer base and sustainability solutions, positioning us for continued national and international growth.”
Marc Betesh, Founder & Executive Chairman of Visual Lease, expressed his enthusiasm: “This partnership with CoStar Group is a major milestone for Visual Lease. I’m incredibly proud of what we’ve achieved over the past 30 years, and I’m excited for what’s to come.”
Robert Michlewicz, CEO of Visual Lease, added, “Joining forces with CoStar Group will accelerate our growth, expand our offerings, and further improve how we serve our customers.”
Citi acted as exclusive financial advisor to CoStar Group, with Milbank LLP as its legal advisor. Shea & Company, LLC served as exclusive financial advisor to Visual Lease, with Latham & Watkins LLP as its legal advisor. Visual Lease is backed by Spectrum Equity and Growth Street Partners.
About CoStar Group
CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with over thirteen million average monthly unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attracted over 163 million average monthly unique visitors in the third quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information.
