Moody’s to take over Reis in $278m deal

Moody’s to take over Reis in $278m deal

Published at: 2018-08-31 16:31 | Author: CIJ USA
Moody’s Corporation has entered into a contract to acquire all outstanding shares of Reis in an all-cash transaction valued at approximately $278m. Moody’s will acquire all issued and outstanding shares of Reis’ common stock for $23 per share. Reis is a leading provider of US commercial real estate data. Its database includes 18 million properties nationwide. It provides analyses and forecasts of 275 metropolitan markets and 7,700 submarkets. The transaction, which is expected to close in the fourth quarter of 2018, has been approved by the boards of directors of both companies.

“Commercial real estate is analytically very complex, and Reis has committed decades of effort and expertise building a unique data asset with critical and hard-to-replicate information on this large and important asset class. Their data on CRE supply and Moody’s Analytics’ insights on the demand for commercial properties will provide market participants with a powerful 360-degree view of the economics of CRE lending and investment,” said Mark Almeida, president of Moody's Analytics. “Working together, both Reis and Moody’s Analytics will become even more relevant and valuable to CRE finance professionals.”

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