CoStar Buys French Commercial Portal BureauxLocaux.com

October 4, 2021
Share this Post: 

US commercial real estate giant CoStar Group has announced that it has acquired COMREAL INFO, the owner and operator of French commercial real estate portal BureauxLocaux.com for an undisclosed sum.

Based in Paris, BureauxLocaux was founded in 2008 by Sophie Desmazières and is one of the leading specialist portals in France with some 60,000 listings, 425,000 monthly visits and a staff of 22 according to Linkedin. The portal claims that 90% of the country's top commercial brokers are its clients and that traffic has increased by 30% on a compounded annual basis since the beginning of 2018.

Apart from its operations in the United States where it is the leading player in commercial real estate, CoStar Group also owns Spanish commercial portal Belbex.com and British commercial portal Realla. The addition of a similar French portal complements the firm's international strategy according to CEO Andy Florance:

"The acquisition of BureauxLocaux is an important step in continuing our international expansion, France is one of Europe’s largest commercial property markets with an estimated €40 billion in annual investment transaction value. BureauxLocaux has built a leading commercial property-specific listings platform with national coverage, great brand recognition, and an excellent reputation among its clients."

Sophie Desmazières, BureauxLocaux’s Founder, added, “We are excited to become part of CoStar Group. The commercial property vertical deserves a high-quality sector-specific online marketplace to better serve brokers and owners. Supported by the extensive resources and know-how of CoStar Group, we believe we can accelerate BureauxLocaux’s growth and strengthen its market position in France.”

CoStar may be looking outside of its native market due to the increasing scrutiny with which mergers and acquisitions are being viewed by new FTC boss Lina Khan. In December 2020 the company was forced to drop its proposed acquisition of American portal operator RentPath and just last week CoStar's rival Zillow closed on its $500M acquisition despite the FTC stating that it was investigating the deal and that the two parties were closing at their own risk.

October 4, 2021
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Shutterstock 1932382865
$13 Billion Adevinta Takeover Deal To Go Ahead After 11th Hour Drama

The acquisition bid made by Aurelia Bidco for the Oslo-listed online marketplace operator Adevinta has finally reached the approval threshold...

Read More
Shutterstock 2245599643
Zillow Adds Individual Room Listings to Its Portal

The U.S. real estate portal Zillow has announced the addition of individual room for rent listings to its portal. The...

Read More
Blank 705 X 430 5
Immowelt's German Parent Company Rebranded to 'AVIV Germany'

The local parent company of the German real estate portal Immowelt has changed its name to 'AVIV Germany'. Immowelt is...

Read More
Untitled Design 15
REA Group Sees Strong Domestic Growth in HY1 Results

The Australian real estate marketplace operator REA Group has released its results for the first half of its 2024 financial...

Read More