CoStar Real Estate Manager

Name: CoStar Real Estate Manager
Brand: CoStar Group, Inc
SKU: 6316ffaf09fb84d1187f675e
Rating: 4.5 (476 reviews)

4.5(476reviews)

Analyzed By Zoftware•

Last Updated: 18th Nov 2025

Overview of CoStar Real Estate Manager Software Company

CoStar Real Estate Manager is a leading platform designed for managing office and retail leases, offering advanced automation for audit controls, accounting compliance, and portfolio evaluation. The platform is particularly beneficial for accounting and real estate teams, providing tools to streamline complex lease operations and ensure compliance with standards like ASC 842 and IFRS 16. CoStar Real Estate Manager is known for its enterprise-class security, automated processes, and integration of market data, which together enhance data accuracy and reporting throughout the lease lifecycle. It offers features such as automated rent payments, lease renewals, and critical date notifications, helping businesses optimize their real estate portfolios and find cost-saving opportunities. The company is highly recommended by service providers and is supported by resident CPAs and commercial real estate experts, ensuring users receive robust support and implementation services.

Founding and Growth

CoStar Real Estate Manager originated from Virtual Premise, a company founded in 1999 in Atlanta, GA, to make lease administration more efficient and automated. In 2011, CoStar Group acquired Virtual Premise, rebranding it as CoStar Real Estate Manager. CoStar Group itself was founded in 1987 by Andrew Florance and went public in 1998.

Funding and Valuation

CoStar Real Estate Manager's estimated annual revenue is approximately $19.3 million, with a revenue per employee of $140,000. CoStar Group, the parent company, reported a Q2 2024 revenue of $678 million, showing a 12% increase year-over-year.

Product Offerings and Features

CoStar Real Estate Manager provides a suite of tools for managing the entire lease lifecycle, including:

Lease Accounting: Automation for ASC 842 and IFRS 16 compliance, audit controls, and accounting workflows.
Real Estate Management: Portfolio planning, automated rent payments, and critical date notifications.
Market Data Integration: Access to CoStar's extensive market data for informed decision-making.

Acquisitions and Product Expansion

CoStar Group has a history of strategic acquisitions to expand its capabilities. Notable acquisitions include LoopNet, Apartments.com, and more recently, OnTheMarket.com, which enhances its presence in the UK real estate market.

CoStar Real Estate Manager AI and New Features

The platform continuously evolves, adding features like retrospective and impairment functionalities, and day 2 accounting to support mass remeasurements and reconciliation reports.

Company Culture and Values

CoStar Group emphasizes integrity, respect for the individual, work-life balance, and continuous learning. The company is committed to innovation and keeping the customer at the center of all activities.

User Base and Community

CoStar Real Estate Manager boasts a 98% renewal rate, indicating high customer satisfaction and loyalty. It is widely recommended by service providers and used by a diverse range of clients, including accounting and real estate teams seeking to optimize lease management.