Xceligent Buys Commercial Information Exchange to Take on CoStar

Commercial Real Estate Direct Staff Report Xceligent Inc. has acquired a commercial real estate listing service to take on its rival and expand nationally. The company, which provides data on commercial space that's available for sale or lease, acquired ePropertyData from Second Century Ventures, the strategic investment arm of the National Association of Realtors. As part of the deal, Xceligent will be the exclusive provider of commercial real estate information services to the NAR. EPropertyData provides listings of properties that appraisers, brokers, developers and local title companies input. The listing service, which boasts nearly 5,000 members across the country, also provides a basic research platform.  "This acquisition will help us with our expansion and add to our national footprint," said Steig Seaward, Xceligent national director of client services. "We will be expanding into the top 65 markets within the next three years, and then we should be in the top 100 markets in about four years." Xceligent, of Independence, Mo., already operates in 33 markets and is looking to expand nationally to take on rival CoStar Group of Washington, D.C. Seaward said ePropertyData's listings provide a little less detail than Xceligent's existing platform at a lower cost to its users. "It's a member-loaded exchange," Seaward said. He said the service provides property listing information, demographics, sale and lease information, analytics and research tools. He declined to disclose the purchase price for ePropertyData. Allen Benson, founder of ePropertyData, said his company's development capabilities are a "perfect match" for Xceligent's research capabilities and industry presence. Xceligent bought ePropertyData less than a month after the Federal Trade Commission approved a consent order that cleared the way for CoStar to complete its $860 million purchase of LoopNet. FTC gave its approval only after Xceligent teamed up with DMG Information Inc., a business-to-business information provider, to buy the company back from LoopNet. Without that transaction, CoStar, in the eyes of regulators, would have achieved near monopoly status for certain commercial real estate information. "The focus of the new entity is going to use resources of DMG to develop a national robust platform that serves all markets," said Constance Freedman, Second Century Ventures managing director. EPropertyData has "traditionally" served secondary and tertiary markets, she added. Freedman said the "market is calling for a competitor" to CoStar. Xceligent's acquisition and its partnership with NAR will provide a strong presence in the market place, she says.

  

Copyright ©2012 Commercial Real Estate Direct, a service of FM Financial Publishing LLC. All rights reserved.

NAR Signs onto Lease Coalition Letter

A coalition of real estate and other business organizations (including NAR) recently wrote to the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB), reaffirming their calls for an economic impact study, extensive field testing, and full re-exposure of the entire lease accounting proposal — with the goal of creating a standard that will meet the tests of the marketplace and fulfill the needs of all stakeholders.


Under the boards’ proposal, U.S. companies that lease commercial space would be required to capitalize the costs of that lease — similar to as if they purchased the property — instead of recognizing the true costs of the lease transaction.  It is estimated that under current terms, businesses would be required to capitalize over $1.1 trillion in leased real estate assets onto their balance sheets.  For businesses leasing space, especially small businesses, this will change these leases into a major liability.


FASB and IASB plan to re-expose their controversial lease accounting reform proposal for public comment during the second half of this year, along with expectations of finalizing their lease accounting overhaul by mid-2013.


Read the Coalition Letter

TCAR Announces Sponsors for Commercial Classic

17th Annual Golf Tournament is May 7

TCAR (www.TCAR.com), the Triangle Commercial Association of REALTORS®, announces sponsors for the 2012 Commercial Classic golf tournament. The 17th annual event will be held on Monday, May 7, 2012 at Hasentree Golf Course (www.hasentree.com) in Wake Forest, N.C. More than 100 participants are expected to participate in the sold out tournament.
“We appreciate the tremendous support of our members, our sponsors and guests for our annual tournament, “says Kerry Saunders, TCAR president. “It is this sustained commitment that has made this networking event a success for 17 years.”
2012 sponsors include:
Hole-In-One Sponsors:                     Prize:
TrustAtlantic Bank:                            $25,000
Articulon:                                           Two round-trip airfares to anywhere in the Continental U.S.
Celito.net:                                           Golf package
Thomas Judy & Tucker:                     Electronics package
Wyrick Robbins Yates & Ponton:      Seiko watch
Dinner Sponsor:
Lend Lease
Cart Sponsor:
NAI Carolantic Realty
Longest Drive Sponsors:
Grubb & Ellis | Thomas Linderman Graham
Tacquire

Hole Sponsors:
Angle Contractors, LLC
Bannerman Construction Company
Cassidy Turley
CORT
Hunter and Associates
Phillips Architecture, PA
Professional Mortgage
Trinity Partners
Southern Community Back & Trust
Hasentree is one of the most beautiful and challenging golf courses in the Carolinas. The course was created by Tom Fazio, one of the game’s greatest architects. The tournament has a shot-gun start of 11 a.m. More information is available at www.TCAR.com or by calling 919.228.2588

NAR Needs Your Help with Research and Other Commercial News

NAR’s Research team needs your feedback on an important survey of REALTORS® who transact commercial real estate. The REALTORS® Commercial Real Estate Market Survey measures activity in the commercial real estate markets and is designed to provide members with an overview of the market performance, sales and rental transactions, current economic challenges, and future expectations; Click here to complete the Market Survey by April 30th.

THE SOURCE BLOG
Ground Leases: An Overview From CCIM
From the raw land, development and investment side of things: CCIM Institute’s newest podcast is a discussion with Philip “Fred” Himovitz, CCIM, all about the ins and outs of the ground lease. Read the overview of the podcast in The Source Blog and related resources including NAR’s Field Guide to Ground Leases.

ADVOCACY
NAR Is Your Voice For Commercial Real Estate Issues
Recently, NAR signed two coalition letters, urging Senate Majority Leader Reid and Republican Leader McConnell to expand the Senate jobs legislation to include provisions aimed to enhance the flow of credit to the small business and commercial real estate sectors.  Stay updated on how this and other advocacy efforts impact your business by reading NAR’s Commercial Real Estate Advocacy Timeline.

TCAR Hosts 17th Annual Golf Tournament, May 7

TCAR (www.TCAR.com), the Triangle Commercial Association of REALTORS^®, is hosting the 17th annual Commercial Classic golf tournament, Monday, May 7th. The event is being held at Hasentree Golf Course (www.hasentree.com) in Wake Forest, N.C.

“The Commercial Classic is an excellent opportunity for the Triangle’s top business professionals to network with peers while enjoying the beauty of Hasentree,” says Kerry Saunders, TCAR president. “We are proud to host this premier tournament for a 17th year and look forward to a great turnout.”

Created by famed course architect Tom Fazio, Hasentree is one of the most beautiful and challenging golf courses in the Carolinas. The Commercial Classic has a shot-gun start of 11 a.m. Festivities include closest-to-the-pin and longest drive skills contests, as well as a hole-in-one raffle with the opportunity to win $25,000 or other prizes. Tournament registration is $85 and ends on May 3. Mulligan packages are available for $20. Individuals may click here to register or call 919.228.2588.

NAR’s REALTORS® Dental Insurance Now Available in NC

NAR’s REALTORS® Dental Insurance Now Available in NC

NAR is pleased to announce that its dental insurance program, provided through the REALTOR Benefits® Program, is now available to NCAR members. REALTORS® Dental Insurance (RDI) offers affordable and exclusive plans that cover a wide variety of dental procedures. There are four plans to choose from and plans start as low as $17.34 a month.  To learn more about RDI, click here or for the full roster of REALTOR Benefits® Program partners, click here.

2012 NCAR Legislative Meetings: June 4-6

The 2012 NCAR Legislative Meetings will be held June 4-6 in Raleigh. This is an important opportunity for REALTORS® from across the state to provide a unified voice for the real estate industry in North Carolina.  Of note, the Legislative Committee will meet on Tuesday, June 5, from 9 a.m.-10 a.m. and the Legislative Reception will be held that evening from 6 p.m.-7:30 p.m. at the NC Museum of Natural Sciences on Jones Street.  The reception is always well attended and is a great opportunity to talk with your legislators in an informal setting.


Of course, the main event is REALTOR® Day on Wednesday, June 6, as REALTORS® from across the state walk the halls of the General Assembly and visit with their legislators.   There will be a change in the schedule this year as the REALTOR® Briefing and the Legislative Forum will be held from 9 a.m.-10:15 on Wednesday at the Legislative Auditorium on the third floor of the Legislative Building.


A press conference will follow the briefing to officially announce that NC REALTORS® will award five $10,000 fellowships to high performing counseling agencies across North Carolina.  The fellowships are paid for through an NAR Foreclosure Prevention and Response grant.  Following the press conference, REALTORS® will visit their legislators’ offices.  Again, this is an important day as hundreds of REALTORS® make their presence known at the General Assembly and discuss issues important to the industry with the lawmakers who can impact these issues.


Make plans to attend, and be a part of this exciting event!  Contact the office at 919-228-2588 or kimb@tcar.com with any questions.