Income Source > Real Estate Property

ForRent.com sold to CoStar Group

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MikeLigalig.com:
CoStar Group, a provider of real estate data, is buying ForRent.com for $350 million in cash and $35 million in stock. ForRent.com is a rental apartment listing business that receives approximately eight million online visits a month and lists around 17,000 apartment communities. CoStar purchased Apartments.com for $585 million and the new purchase allows them to augment their rental offerings. The Apartments.com network receives over 37 million visits a month and lists approximately one million apartments. Andrew Florance, CoStar's founder stated that the acquisition could increase CoStar’s rental revenue to $400 million a year. – FOX BUSINESS

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