CoStar Group Acquires Ag-Analytics, Augmenting Land.com Services and Capabilities
Land.com will incorporate valuations on 2.8 million parcels of land provided by Ag-Analytics' AcreValue platform
CoStar Group, Inc. (NASDAQ:CSGP) ("CoStar Group," "we" or "our"), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, today announced that it has acquired agricultural data company Ag-Analytics. The strategic acquisition of Ag-Analytics will specifically enhance CoStar Group's Land.com platform, marking the company's extension into the agricultural land sector. This acquisition will strengthen the data capabilities for farmland, forestland, recreational, and other rural properties through Ag-Analytics' cutting-edge AcreValue platform, unlocking new opportunities for land and ag-focused institutional investors and lenders.
AcreValue provides an innovative outlet for farmers, land investors, land professionals and landowners to gather the most accurate insights and data on agricultural land. With the most comprehensive set of land data in one easy-to-use site, AcreValue provides the fastest way to prospect and learn about any piece of land, comp sales and its current valuations. AcreValue covers the 48 contiguous states, serving as the leading solution for farmland and non-residential land analytics in the U.S. and catering to multiple segments of the land market – including farmer operators, non-operating landowners, and land professionals such as bankers, brokers, appraisers, energy companies, and investors.
Land.com, CoStar Group's premier marketplace for discovering, buying, and selling rural real estate, will incorporate AcreValue's reports and analytics into all applicable listings. These reports include geographical data, soil composition, elevations, historical and other information. With 1.5 million registered users on AcreValue and data on tens of millions of parcels, this integration will provide even greater exposure and deeper insights for clients.
Ag-Analytics has a strategic alliance with Farmer Mac, the nation's secondary market for agricultural credit, where the farm sector real estate debt currently totals $355 billion. Farmer Mac leverages the AcreValue platform as a channel to further their lending market, delivering new opportunities for innovative financing directly to the digital farm gate. This partnership increases efficiency and transparency in the agricultural credit market.
"The addition of Ag-Analytics services into the Land.com platform is yet another example of how CoStar Group blends best in class platforms and leading analytics to support real estate owners, brokers, operators, and professionals," said CoStar Group Founder and Chief Executive Officer Andy Florance. "We have identified a massive market potential, with farm sector real estate alone representing a $3.4 trillion asset class, creating a range of opportunities to maximize revenue and provide increased value for our clients. Together, we will set a new standard for data-driven decision-making in the land and real estate market. I look forward to working with the Ag-Analytics team on these incredible opportunities."
"We are excited to join CoStar and be part of its industry-leading real estate network," says Joshua Woodard, Founder of Ag-Analytics. "AcreValue and Land.com bring strong synergies in land data and analytics, expanding our ability to provide valuable insights and innovative solutions to landowners and buyers."
Ag-Analytics was founded in 2018 and is headquartered in Ithaca, New York.
About CoStar Group, Inc.
CoStar Group (NASDAQ:CSGP) is a global leader in commercial real estate information, analytics, and online marketplaces. Founded in 1986, CoStar Group is dedicated to digitizing the world's real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group's major brands include CoStar, a leading global provider of commercial real estate data, analytics and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; and Homes.com, the fastest-growing residential real estate marketplace. CoStar Group's industry-leading brands include STR, a global leader in hospitality data and benchmarking, Ten-X, an online platform for commercial real estate auctions and negotiated bids and OnTheMarket, a leading residential property portal in the United Kingdom.
CoStar Group's websites attracted over 163 million average monthly unique visitors in the third quarter of 2024, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
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News Media
Matthew Blocher
CoStar Group
(202) 346-6775
mblocher@costargroup.com