Management

Andrew C. Florance founded CoStar Group, Inc. in 1987, fundamentally changing the way commercial real estate professionals access, use and share information. Through CoStar, Mr. Florance pioneered the concept of commercial real estate firms outsourcing research functions to a third-party information provider, combining the operational efficiencies of a computer-based information system with the more thorough, standardized and higher quality property information produced by the industry’s first independent research organization.

Mr. Florance’s enduring commitment to innovation has been repeatedly recognized by Forbes magazine, which has named CoStar Group among the 100 Most Innovative Growth Companies in the world, as well as one of Forbes Fast Tech 25 and Fortune magazine’s 100 Fastest Growing Companies. Headquartered in Washington, D.C., the company maintains offices throughout North America, Europe and Asia with a staff of more than 4,900 worldwide. 

Mr. Florance has directed CoStar Group’s expansion from start-up, to its successful IPO in July 1998, and to its market-leading position today as a publicly traded enterprise (NASDAQ: CSGP) and the leading provider of commercial real estate information, analytics and online marketplaces. CoStar Group’s websites attract tens of millions of unique monthly visitors. The company’s major holdings include:

• CoStar, the largest global provider of commercial real estate research, analytics and data, offering in-depth information on building attributes, historical lease and sale transactions, tenants, true owners and professionally captured images. Ninety-five percent of the top 1,000 brokerages turn to CoStar for client-ready reports, market analysis, news and information to make profitable decisions.
• The LoopNet network, including Showcase, CityFeet, the most heavily trafficked online commercial real estate marketplaces with more than 10 million average network monthly visits.
• The Apartments.com network, the premier rental home resource for renters, property managers and owners with over 1 billion visits in 2020, including Apartments.com, ApartmentFinder, ApartmentHomeLiving, Apartamentos.com, ForRent.com, ForRentUniversity.com, After55.com, CorporateHousing.com, Westside Rentals and Off Campus Partners.
• STR, the leading provider of premium data benchmarking, analytics and marketplace insights for global hospitality sectors.
• Ten-X, the leading platform for conducting commercial real estate online auctions and negotiated bids.
• Homesnap, an industry-leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship.
• com, a premier online marketplace offering real estate professionals advertising and marketing services for residential properties.
• BizBuySell, the largest and most heavily trafficked business-for-sale marketplace.
• Lands of America, the largest rural real estate marketplace in the country.

Mr. Florance has co-authored a number of academic articles on commercial real estate economics and received Best Manuscript Prize Awards and the Scholar Practitioner Prize from the American Real Estate Society. He is currently the Chair of the Board of the Cathedral Chapter overseeing the Washington National Cathedral and sits on the board of the Protestant Episcopal Cathedral Foundation. He is also on the board of Virginia Commonwealth University, the American Real Estate Society and Management Leadership for Tomorrow, a nonprofit that develops diverse leaders.

Mr. Florance is a graduate of Princeton University with a B.A. in Economics and received an honorary doctorate from Virginia Commonwealth University in 2019.

Mr. Wheeler joined the Company in January 2016. Prior to his appointment as Chief Financial Officer, Mr. Wheeler served in various senior financial leadership roles with Experian plc., a global data analytics and consumer credit reporting company, from 2006 to 2016. Prior to Experian, Mr. Wheeler held various financial and mergers and acquisitions roles with Avery Dennison and General Electric, including an international assignment in Germany as Chief Financial Officer of GE-Bayer Silicones. Mr. Wheeler began his professional career as a CPA with Touche Ross in Seattle, Washington.

Frank A. Simuro, CoStar’s Chief Technology Officer, joined the Company in December 1999 as Director of Information Systems. He served as Senior Vice President of Information Systems from May 2005 to January 2008 and was promoted to Chief Information Officer in January 2008. Prior to joining CoStar, Mr. Simuro was Director of Data Warehousing at GRC International (“GRC”). Prior to GRC, Mr. Simuro was a technology consultant specializing in operational efficiency and database technologies. Mr. Simuro received a M.S. in information systems from George Washington University and a B.A. in computer science from State University of New York — Geneseo.

Lisa Ruggles, CoStar Group’s Senior Vice President of Global Operations, leads the company’s commercial and residential research operations based in Richmond, Virginia. She oversees 1,400 employees globally and CoStar Group’s large inventory of property records, market analysts, data, news, and commercial real estate professional profiles.

Before rising to be a member of CoStar Group’s Executive Leadership team and directing CoStar Group’s global research division, Mrs. Ruggles joined the company as a Field Research Photographer in 1999. In that role she utilized her creative talents and her degree in photography from the Savannah College of Art and Design. This is where she started her over 23-year career in the commercial real estate industry.

She was soon promoted to a Field Research Manager and then to Vice President of Field Research in 2013. She led and implemented several initiatives to bolster CoStar Group’s commercial real estate research functions.

She oversaw the introduction and utilization of CoStar’s aerial research plane in 2013 to expedite the collection of high-quality images of new construction. She also expanded the multifamily research and integration efforts after CoStar Group’s acquisition of Apartments.com in 2014 which included a massive effort to photograph every apartment building in the U.S. After spearheading the North American research expansion across the U.S. and Canada, Mrs. Ruggles led the effort to bring commercial real estate data and analytics to clients in the United Kingdom.

In 2016, Mrs. Ruggles assumed the role of Senior Vice President of Global Operations and oversaw the establishment of CoStar’s global Research and Operations Headquarters in Richmond, Virginia. During her tenure as Senior Vice President, she introduced research assets into Spain, expanded CoStar’s international news division and integrated LoopNet’s, STR’s, and Realla’s databases with CoStar’s data.

Recognized as one of 2022’s Real Estate Industry Mentors, Mrs. Ruggles leads with integrity while continuing to focus on efforts abroad and in Richmond. CoStar Group announced the expansion of Richmond’s Research and Operations campus in December of 2021 where Mrs. Ruggles will direct over 3,000 employees when the project is completed.

Michael Desmarais, CoStar Chief Human Resources Officer, is focused on building and developing the next generation of CoStar’s industry leading team of researchers, experts and innovators. Bringing more than 20 years of experience in human resources and professional services, he is responsible for ensuring CoStar has a dynamic, inclusive, high performing culture that evolves as the company continues to grow. Through his oversight of Corporate Facilities, Michael creates strategies to leverage CoStar’s physical space to foster a world class employee experience.

Prior to joining CoStar, Michael was a Managing Director within Human Capital Management at Goldman Sachs & Co. Over the course of more than 17 years, he contributed innovative thought leadership and held a variety of senior positions including, Head of Human Resources for Engineering, Co-Head of Global Business Partners, Head of Global Recruiting and the Chief Operating Officer for the Human Capital Management division.

Michael began his career in public accounting at KPMG and later Grant Thornton, becoming a Certified Public Accountant. Additionally, he spent 10 years in Executive Search where he was responsible for establishing and managing the New York City region for Vedior Professional Services, NV.

Michael graduated from Stonehill College with a BS in Accounting.

Fred Saint, President of Marketplaces, leads the product, marketing and business development initiatives for CoStar’s premier multifamily, land, small business and European marketplaces. These include Apartments.com, the nation’s number one apartment listing network; Lands, the nation’s number one network of land for sale websites and listings, BizBuySell, the nation’s number one network for business-for-sale marketplaces; and CoStar’s European marketplaces including Realla.com, a commercial marketplace in the U.K and Belbex, a commercial marketplace in Spain. Previously, Mr. Saint served as President of Apartments.com, and before that President of Loopnet. He served as President of Cityfeet and Vice President of LoopNet Business Development in August 2007 upon CoStar’s acquisition of Cityfeet, where he served as Chief Executive Officer from January 2004 to August 2007. Mr. Saint received a B.S. in Business Administration from Wake Forest University and an M.B.A. in Finance and Real Estate from the Wharton School in Philadelphia, Pennsylvania.

Jason Butler, CoStar Chief Information Officer, leads CoStar’s technology initiatives spanning data acquisition, management and distribution. An 11-year CoStar veteran, Mr. Butler previously served as Senior Vice President of Software Development, where he played an instrumental role in the acquisition and integration of Apartments.com, ApartmentFinder.com and ForRent.com. Prior to that, he served as Chief Technology Officer for CoStar’s European business unit from 2011 to 2013. While in Europe, Mr. Butler successfully integrated CoStar’s US and UK businesses and launched new products to drive business unit profitability. Mr. Butler holds a BS in Industrial and Systems Engineering from Virginia Polytechnic Institute and State University and an MBA from the University of Georgia’s Terry College of Business.

Andy Thomas is President of CoStar Real Estate Manager (formerly Virtual Premise), a wholly owned subsidiary of CoStar Group. Mr. Thomas joined Virtual Premise as President and Chief Operating Officer in 2001 while the company was still in the start-up phase. He currently leads CoStar Real Estate Manager’s overall strategy development and operations. Prior to joining Virtual Premise, he spent 12 years at Equitable Real Estate, serving as an Executive Vice President with involvement in acquisitions, debt placement, CMBS investment and servicing, and investment management of commercial real estate assets for pension funds. Mr. Thomas earned an M.B.A. from the University of Pennsylvania’s Wharton School and a B.S. in Building Construction from the Georgia Institute of Technology.

Gene Boxer, General Counsel & Corporate Secretary, serves as a member of the executive team and maintains overall responsibility for the company’s legal and compliance function.

Prior to joining CoStar Group, Gene served as Chief Strategy Officer & Group General Counsel of Sirius International Insurance Group from August 2016 until the sale of the firm in February 2021.

From January 2011 through September 2015, Gene served as the Global General Counsel of Cushman & Wakefield, where he headed the Legal and Compliance functions and served as a member of the Executive Committee and Global Management Committee, and Co-Chaired the Global Enterprise Risk Management Committee, of the firm. Gene was a core member of the management team overseeing the strategic review and sales process resulting in the sale of Cushman & Wakefield to DTZ, creating one of the largest global commercial real estate services companies.

Prior to joining Cushman & Wakefield, Gene served as a senior member of the Restructuring Group of American International Group, Inc. (AIG), where he was responsible for managing multi-functional teams executing several of its most high-profile worldwide asset dispositions, restructurings and other strategic transactions. Prior to September 2008, Gene served as a member of AIG’s Legal Mergers & Acquisitions Group overseeing the legal aspects of AIG’s worldwide strategic transactions in a broad range of insurance and financial services sectors.

Gene began his career in the late ‘90s at Milbank, LLP, where he represented private equity funds and public and private companies in connection with mergers, acquisitions, joint ventures, restructurings, reorganizations, divestitures, securities offerings and other significant corporate matters. He also provided ongoing securities and general corporate advice to public companies. Gene is a graduate of Boston University School of Law and New York University, where he received a B.S. in Finance and International Business from the Leonard N. Stern School of Business.