Bethesda, Md.-based CoStar Group Inc. has signed two national, multi-year agreements to provide information services to GMAC Commercial Mortgage (GMACCM) and Fannie Mae, two of the largest commercial real estate lenders in the U.S.
The GMACCM agreement is an expansion of a previous license under which the company’s employees accessed CoStar’s national leasing and sales data through their company’s internal software. Under the new three-year agreement, GMACCM professionals will have direct access to CoStar Property, which is the company’s office and industrial property database. They can also use CoStar COMPS, a database of sales transactions.
Fannie Mae, a new CoStar subscriber, will use CoStar COMPS to access information on multifamily property sales across the U.S. Fannie Mae’s credit risk management group will use comparable sales data provided by CoStar to benchmark markets for individual loan analysis as well as portfolio review. As part of its extensive real estate due diligence examination for loan acquisitions, Fannie Mae monitors multifamily market activity, to analyze supply and demand fundamentals, track new development and construction, and examine recent sales data.