CoStar Group to acquire Visual Lease, terms not disclosed

CoStar Group (CSGP) announced that it has reached a definitive agreement to acquire Visual Lease. The strategic acquisition will enhance CoStar Group’s Real Estate Manager business line and provide additional lease management and lease accounting value to corporations of all sizes, the company said. “Visual Lease and CoStar Real Estate Manager are driven by the same mission of integrating all lease management portfolio functions into one user-friendly platform. Bringing Visual Lease into the CoStar Group family will allow us to create the best possible experience for our customers,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group. “By combining CoStar Group’s industry expertise with Visual Lease’s diverse customer base, deep lease portfolio management expertise, and leading sustainability solutions, we are well positioned to offer a more comprehensive service offering and continue growing both nationally and internationally. I look forward to welcoming the Visual Lease team to CoStar Group and working together to develop new capabilities to better serve our clients.”