- CoStar is expecting its listing services to expand
- Hiring comes after firm reported nearly 25 percent quarter-over-quarter revenue growth
- Retail, multifamily, office and industrial sectors all up in the Northeast
With a focus on accelerating “cost synergies” within its apartment rental listings services, Washington, D.C.-based CoStar Group has named Scott Wheeler chief financial officer.
Wheeler previously served as CFO of Experian North America and Experian Global Technology Services. During his tenure, Experian’s revenue grew from $3 billion to $5 billion, according to a CoStar release.
In his new role, Wheeler is responsible for the firm’s accounting, financial planning, internal controls, reporting and compliance, treasury, investor relations, tax and financial operations.
This hire comes after CoStar recently announced that revenue for the third quarter of 2015 was $189.1 million, an increase of approximately 24 percent over the third quarter of 2014.
CoStar’s rental listings services include Apartments.com, ApartmentFinder.com and ApartmentHomeLiving.com. The firm also maintains Loopnet, a commercial real estate marketplace.
According to the firm’s recent commercial repeat sales indices, the multifamily, office, retail and industrial industries all hit peak levels in the Northeast during the third quarter.