CoStar Group to acquire Off Campus Partners.

CoStar Group, a provider of commercial real estate information, analytics and online marketplaces, agreed to acquire Off Campus Partners, a provider of an online multifamily marketplace service for student housing in the United States. Financial terms were not disclosed. “There are over 17 million college students in need of housing near universities paying approximately $100bn in rent annually. This is a massive market with tremendous growth opportunities for us to partner with more universities and attract more advertisers, especially small independent owners. The majority of OCP’s advertisers are independent owners who are excellent candidates for the full suite of services we plan to offer soon on our Apartments.com network, the most visited apartment internet listing service in the United States with more than 60m visits per month,” Andrew C. Florance, CoStar Group Founder, and Chief Executive Officer.