On Wednesday, CoStar Group announced plans to merge with Network Communications and acquire ApartmentFinder.com for $170M. This just months after acquiring and rebuilding Apartments.com into one of the fastest-growing sites in the industry. CoStar founder Andrew Florance plans to do the same for ApartmentFinder.com, already among the top five multifamily rental listings marketplaces, with about $79M in revenue and roughly 13,400 properties on its website. While ApartmentFinder.com and Apartments.com will both be powered by CoStar's information, they will remain separate and complementary websites to give listings more exposure. Meanwhile, ApartmentFinder's 400 employees, including 120 field sales reps, will join forces with Apartments.com's sales reps to market across both platforms.
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