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CoStar Group Welcomes New Chief Human Resources Officer

WASHINGTON--(BUSINESS WIRE)--

CoStar Group, the leading provider of commercial real estate information, analytics and online marketplaces, is pleased to announce the hire of Michael Desmarais to serve as the company’s Chief Human Resources Officer. In this role, Mr. Desmarais is expected to be a valuable executive team member and a trusted advisor to the CEO and other senior leadership. He will be tasked with building and growing a top performing team and with ensuring CoStar has an engaged workforce and a dynamic, collaborative, performance driven culture that evolves as the company continues to grow.

“Developing the next generation of CoStar Group’s industry leading team of researchers, experts and innovators is a top priority for us,” said Founder and CEO Andrew Florance. “Michael’s expertise and leadership in human resources, finance, and strategy is expected to play a crucial role in the continued growth and success of our organization.”

With more than twenty years of experience in human resources and financial services, Mr. Desmarais boasts an impressive track record of talent acquisition, talent management and operational efficiency. As part of the human resources team at Goldman Sachs for more than 17 years, Mr. Desmarais has led large global teams and worked with the most senior executives on key strategic, transformational initiatives. Most recently, Mr. Desmarais served as Head of Human Resources for Engineering and Co-Head of Global Business Partners.

Named to Fortune Magazine’s top 100 fastest growing companies in the world in 2018, CoStar Group maintains the largest, centralized database of commercial real estate information available. Delivering comprehensive market coverage of accurate and standardized commercial real estate information, CoStar’s research contributes to arguably the most important segment of the economy, ultimately helping businesses open offices, stores, warehouses and manufacturing facilities.

About CoStar Group, Inc.

CoStar Group, Inc. (CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. LoopNet is the most heavily trafficked commercial real estate marketplace online with nearly 6 million monthly unique visitors per month. Realla is the UK’s most comprehensive commercial property digital marketplace. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. CoStar Group’s websites attracted an average of over 49 million unique monthly visitors in aggregate in the first quarter of 2019. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of over 3,700 worldwide, including the industry’s largest professional research organization.

For more information, visit www.costargroup.com.

This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements, including the possibility that Desmarais and the Company are unable to achieve the goals or produce the results set forth in this release, including expected growth and success of the team and organization, as well as cultural evolution as the organization grows. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar’s filings from time to time with the Securities and Exchange Commission, including in CoStar’s Annual Report on Form 10-K for the year ended December 31, 2018, and CoStar’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2019, each of which is filed with the SEC, including in the “Risk Factors” section of those filings, as well as CoStar’s other filings with the SEC available at the SEC’s website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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