CoStar Group – a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets – announced that it has acquired agricultural data company Ag-Analytics.
This strategic acquisition will enhance CoStar Group’s Land.com platform, marking the company’s extension into the agricultural land sector. And this acquisition will strengthen the data capabilities for farmland, forestland, recreational, and other rural properties through Ag-Analytics’ cutting-edge AcreValue platform, driving new opportunities for land and ag-focused institutional investors and lenders.
AcreValue offers an innovative outlet for farmers, land investors, land professionals and landowners to gather the most accurate insights and data on agricultural land. And with the most comprehensive set of land data in one easy-to-use site, AcreValue provides the fastest way to prospect and learn about any piece of land, comp sales and its current valuations.
AcreValue covers the 48 contiguous states, working as the leading solution for farmland and non-residential land analytics in the U.S. and catering to multiple segments of the land market, including farmer operators, non-operating landowners, and land professionals such as bankers, brokers, appraisers, energy companies, and investors.
Land.com, which is CoStar Group’s premier marketplace for discovering, buying, and selling rural real estate, will integrate AcreValue’s reports and analytics into all applicable listings. And these reports include geographical data, soil composition, elevations, historical and other information. With 1.5 million registered users on AcreValue and data on tens of millions of parcels, this integration will provide even greater exposure and deeper insights for clients.
Ag-Analytics also has a strategic alliance with Farmer Mac, the nation’s secondary market for agricultural credit, where the farm sector real estate debt currently totals $355 billion. And Farmer Mac utilizes the AcreValue platform as a channel to further their lending market, delivering new opportunities for innovative financing directly to the digital farm gate. This partnership increases efficiency and transparency in the agricultural credit market.
KEY QUOTES:
“The addition of Ag-Analytics services into the Land.com platform is yet another example of how CoStar Group blends best in class platforms and leading analytics to support real estate owners, brokers, operators, and professionals. We have identified a massive market potential, with farm sector real estate alone representing a $3.4 trillion asset class, creating a range of opportunities to maximize revenue and provide increased value for our clients. Together, we will set a new standard for data-driven decision-making in the land and real estate market. I look forward to working with the Ag-Analytics team on these incredible opportunities.”
– CoStar Group Founder and Chief Executive Officer Andy Florance
“We are excited to join CoStar and be part of its industry-leading real estate network. AcreValue and Land.com bring strong synergies in land data and analytics, expanding our ability to provide valuable insights and innovative solutions to landowners and buyers.”
– Joshua Woodard, Founder of Ag-Analytics
