CoStar Nabs Apartments.com In $585M Deal

Law360, New York (March 3, 2014, 5:09 PM EST) -- Real estate information provider CoStar Group Inc. will pick up Apartments.com from Classified Ventures LLC for $585 million, a deal that further bulks CoStar’s growing portfolio of online marketplaces, the company said Monday.

Under the terms of the deal, CoStar will add Apartments.com as well as affiliated sites, ApartmentHomeLiving.com and RentalHomesPlus.com, according to a statement. The company plans to fund the transaction with cash-on-hand and financing from JPMorgan Chase Bank N.A., Bank of America Merrill Lynch, SunTrust Bank and Wells Fargo Bank N.A. for a fully...
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