CoStar Group has plans to acquire Ten-X.
Ten-X was launched in 2009 with the goal of providing a digital transaction platform for effectively liquidating the large volume of distressed commercial real estate assets that came on the market during the Great Recession. Ten-X has since become a leading platform for digital commercial real estate transactions, with close to $24 billion dollars of sales successfully executed on the platform. The Ten-X platform has transacted approximately $7 billion in retail properties, $6 billion in office properties, $4 billion in multifamily properties, $3 billion in hotel properties, and billions in value in other commercial property types. While Ten-X initially focused on distressed assets, non-distressed sellers and brokerage firms have increasingly come to rely on Ten-X to facilitate faster execution to transact properties.
CoStar has been active with acquiring data analytics companies. Earlier this year, it purchased RentPat
