Moody’s Analytics has entered a strategic agreement with commercial real estate comps and data firm CompStak to better serve real estate finance professionals.

In addition to leveraging CompStak's resources in existing platforms, Moody's will work with the New York-based firm to increase its reach in new markets by creating products and technologies aimed to aid professionals in commercial real estate finance.

Moody’s is looking to further enhance its Moody’s Analytics Emerging Business Unit, which was formed in 2016. The group works to identify, research and develop new business opportunities fueled by tech innovation. Moody's also made an investment in CompStak as part of the partnership.

Meanwhile, CompStak has access to a wealth of data crowdsourced by brokers and covers more than 275,000 commercial properties in 70 markets across the U.S.

“Moody’s Analytics is well known for the strength and breadth of its CRE risk solutions and we look forward to working together to develop new ways to serve the needs of this sector,” CompStak CEO and co-founder Michael Mandel said in a statement. 

Moving forward, CompStak’s insights and analytics will be integrated with Moody’s Analytics products as the companies work together to create a new platform that serves to deliver a more comprehensive set of CRE data and analytics to the industry.

“It’s a privilege to have Moody’s as an investor in CompStak. This strategic investment is symbolic of our shared commitment to make this partnership a success,” Mandel said.

CORRECTION, OCT. 24, 12:05 P.M. ET: A previous version of this story incorrectly listed CompStak’s headquarters. The company is based in New York City. The story has been updated.