BETHESDA, Md., June 12 /PRNewswire-FirstCall/ -- CoStar Group, Inc. , the number one provider of commercial real estate information/marketing solutions, today announced that CoStar's stockholders elected Michael J. Glosserman to serve on CoStar's Board of Directors. The election was held at CoStar's 2008 Annual Stockholders Meeting at its headquarters in Bethesda, Maryland.
Mr. Glosserman, 62, is a Managing Member of The JBG Companies, an active investor, owner and developer of commercial and residential real estate throughout the Washington, DC metropolitan area. He joined The JBG Companies in 1979 and has more than 35 years of experience in various aspects of real estate investment, development and ownership.
After coming to Washington in 1971 as a staff attorney with the U.S. Department of Justice, Mr. Glosserman began his real estate career shortly thereafter at The Rouse Company.
Mr. Glosserman has served as a member of many corporate, charitable and educational boards. He currently serves as Board Chairman for The National Building Museum and as a board member for The Shakespeare Theatre Company and the Penn Institute of Urban Research at the University of Pennsylvania in Philadelphia. Mr. Glosserman is also an Executive Committee member of the Federal City Council in Washington, DC, and is an active member of the Washington District Council of the Urban Land Institute. He received a Bachelor of Economics from the Wharton School at the University of Pennsylvania and a Juris Doctor from the University of Texas Law School.
"We are pleased to have someone of Michael's demonstrated experience and stature join our board," stated CoStar Founder and CEO Andrew C. Florance. "His experience in commercial real estate and valuable industry insight will serve CoStar well in continuing to create and deliver effective online information and marketing solutions to commercial real estate service providers."
Mr. Glosserman joins the six other members re-elected to serve on CoStar's Board of Directors, including: Chairman Michael R. Klein, Chairman of The Sunlight Foundation; Andrew C. Florance, CoStar's Founder and CEO; David Bonderman, founding partner of TPG Capital LLC; Warren H. Haber, Chairman and CEO of Founders Equity, Inc.; Josiah O. Low, III, venture partner with Catterton Partners IV LP; and Christopher J. Nassetta, CEO and President of Hilton Hotels Corp.
About CoStar Group, Inc.
CoStar Group, Inc. is the number one provider of information/marketing services to commercial real estate professionals in the United States as well as the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of commercial real estate information throughout the U.S. as well as in the United Kingdom and France. Headquartered in Bethesda, MD, the company has approximately 1,300 employees, including the largest professional research organization in the industry. For more information, visit http://www.costar.com/.
This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. More information about potential factors that could cause actual results to differ materially from those discussed in the forward- looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including CoStar's Form 10-K for the year ended December 31, 2007 and CoStar's Form 10-Q for the quarter ended March 31, 2008, under the heading "Risk Factors". In addition to these statements, there can be no assurance that Mr. Glosserman's experience in commercial real estate and valuable industry insight will serve CoStar well in continuing to create and deliver effective online information and marketing solutions to commercial real estate service providers. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements.
