There’s been a significant shift in today’s digital landscape. While companies used to opt for point solutions to address specific needs, many are now looking to broader systems to help foster collaboration, enhance data visibility, and ultimately drive stronger decision-making.

This integration will provide mutual customers with a comprehensive view of their lease portfolios, helping to enhance operational efficiency and control while mitigating risk

Arlington, Virginia – April 17, 2025 – Visual Lease, a CoStar Group (NASDAQ: CSGP) brand and a premier platform for integrated lease management, accounting, and reporting, announced today that it has become a Workday Innovation Partner. This collaboration combines Visual Lease’s platform for lease accounting and management with Workday Financial Management software to empower joint customers with a comprehensive view of their lease portfolios, helping them manage their financial ecosystem, from general ledger to lease-specific reporting, accurately and efficiently.

With this partnership, mutual customers can use a packaged solution including a standard set of preconfigured integrations that help automate the bidirectional exchange of financial data, provide more streamlined lease management, and help support compliance with FASB/IFRS and GASB 87/96 standards. The partnership comes on the heels of CoStar Group’s recent acquisition of Visual Lease and is a testament to their commitment to broaden the solutions available to their customers.

“Our integration delivers real-time, accurate data across systems, empowering customers to enhance compliance, boost operational efficiencies, and minimize financial reporting risks, all while reducing costs,” said Andy Florance, CoStar Group Founder and Chief Executive Officer. “This partnership with Workday further aligns the Visual Lease platform to provide accurate and timely information, which empowers our customers to continue confidently making strategic decisions and drive their business forward.”

Shared customers will benefit from a comprehensive financial tool with Workday Financial Management, and a best-in-class solution for lease accounting and management with Visual Lease.

About CoStar Group, Inc.

CoStar Group (NASDAQ: CSGP) is the global leader in commercial real estate information, analytics, and online marketplaces. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.

CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; and Homes.com, the fastest-growing residential real estate marketplace. CoStar Group’s industry-leading brands include STR, a global leader in hospitality data and benchmarking, Ten-X, an online platform for commercial real estate auctions and negotiated bids and OnTheMarket, a leading residential property portal in the United Kingdom.

CoStar Group’s websites attracted over 134 million average monthly unique visitors in the fourth quarter of 2024, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

About Visual Lease

Powered by CoStar Group, Visual Lease is the premier platform for integrated lease management, lease accounting, and sustainability reporting. It is trusted by enterprises worldwide to seamlessly navigate complex portfolios. As the centralized system of record for all lease-related financial, operational, and legal data, Visual Lease supports every team involved in managing a company’s leased and owned assets. Informed by nearly three decades of experience, our platform enables organizations to save time, mitigate risks, reduce costs, and support sustainability initiatives. Our award-winning software is used by 1,500+ organizations to manage more than 1 million leased assets records globally. For more information, visit visuallease.com.

Media Contacts

Matthew Blocher
CoStar Group
mblocher@costargroup.com
T: 202-346-6774

Angie Lufrano
Caliber Corporate Advisors
visuallease@calibercorporate.com
T:510.517.2842

We are pleased to announce that Kathryn Eskandarian, Visual Lease’s Chief Financial Officer, has been named the winner of a Silver Stevie® Award in the Female Executive of the Year category in the 21st annual Stevie® Awards for Women in Business.

About the Award

The Stevie Awards for Women in Business honor women executives, entrepreneurs, employees and the companies they run – worldwide. The Stevie Awards have been hailed as the world’s premier business awards. More than 1,500 entries from organizations and individuals in 36 nations and territories were submitted this year for consideration in more than 100 categories.

Gold, Silver, and Bronze Stevie Award winners were determined by the average scores of more than 200 business professionals around the world, working on seven juries.

About Kathryn Eskandarian

As Chief Financial Officer at Visual Lease (VL), Kathryn Eskandarian leads the company’s financial operations, along with overseeing key administrative functions including IT, Legal, and Human Resources. Since joining VL, Kathryn has been instrumental in crafting and implementing financial strategies that have fueled the company’s growth and profitability.

Kathryn’s belief that business health relies on informed, data-driven decisions drew her to VL. She recognized the platform’s unique value as a centralized system of record for leases and owned assets – a significant expense area for most organizations. Anticipating VL’s rapid growth, Kathryn developed a robust, scalable financial infrastructure to support the company’s ambitious goals and expanding customer base.

Seven years later, Kathryn remains dedicated to furthering VL’s mission, helping companies gain value from their lease portfolios and making informed decisions that drive business success – all aspects that have led to this prestigious recognition as a top female executive in her field.

VL remains committed to fostering a diverse and inclusive workplace and is proud to share that its executive leadership team is comprised of 60% women.

Looking Ahead

We invite you to connect with ​​Kathryn on LinkedIn and join us in cheering her on.

Founded in 1996, Visual Lease is a premier software platform for integrated lease management, accounting, and reporting, used by over 1,500 organizations across the business services, construction, healthcare, manufacturing, and retail sectors. Visual Lease offers support for each team involved in managing a company’s leased and owned assets through a seamless platform that encourages strategic financial and operational outcomes for organizations.

CoStar Real Estate Manager helps customers across the globe manage every phase of the lease lifecycle, providing vital lease administration, lease accounting compliance, and transaction management applications, ensuring seamless workflows between real estate and accounting teams.

This strategic acquisition will enhance functionality for businesses of all sizes by providing industry leading lease management and accounting solutions coupled with the power of CoStar’s data and analytics. The combination will also enhance relationships with key real estate and accounting service providers and increase integration opportunities with key technology partners.

“Visual Lease and CoStar Real Estate Manager are driven by the same mission of integrating all lease management portfolio functions into one user-friendly platform. Bringing Visual Lease into the CoStar Group family will allow us to create the best possible experience for our customers,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group. “By combining CoStar Group’s industry expertise with Visual Lease’s diverse customer base, deep lease portfolio management expertise, and leading sustainability solutions, we are well positioned to offer a more comprehensive service offering and continue growing both nationally and internationally. I look forward to welcoming the Visual Lease team to CoStar Group and working together to develop new capabilities to better serve our clients.”

“This marks an exciting new chapter for Visual Lease,” said Marc Betesh, Founder & Executive Chairman of Visual Lease. “This partnership with CoStar Group will allow us to propel our vision to even higher levels. I am incredibly proud of everything we have achieved since we began on this journey almost 30 years ago and am excited for all that is ahead.”

“From its inception, Visual Lease has focused on helping companies optimize the value of their lease portfolios. This moment and next step forward with CoStar Group is a testament to our team’s dedication to this mission. Joining forces with CoStar Group will accelerate our growth, expand our offerings, and even further enhance how we serve our customers.” said Robert Michlewicz, Chief Executive Officer of Visual Lease.

Citi served as exclusive financial advisor to CoStar Group on the transaction and Milbank LLP served as its legal advisor. Shea & Company, LLC served as exclusive financial advisor to Visual Lease and Latham & Watkins LLP served as its legal advisor.

Visual Lease is backed by Spectrum Equity and Growth Street Partners.

Learn more here.

Woodbridge, NJ – Oct. 22, 2024 — Visual Lease (VL) the premier platform for integrated lease management, accounting, and reporting, today released a new report from The Visual Lease Data Institute (VLDI), “2025 Outlook: Lease Portfolio Management Trends, Risks & Opportunities.” In this annual survey, senior Finance and Real Estate leaders shared how enterprises can better navigate economic pressures, market shifts, and changing business needs by gaining a holistic view of their lease portfolio.

“As leases are often a business’s second-largest expense, there is much to be gained from managing these assets appropriately,” said Robert Michlewicz, CEO of Visual Lease. “Key benefits include the ability to react to unforeseen circumstances, identify cost savings opportunities, and easily sustain accurate financial reporting and compliance. The latest VLDI report highlights the main components of a successful lease portfolio management strategy: utilizing a centralized system of record for related data sets and facilitating cross-departmental collaboration amongst critical stakeholders, including Finance, Real Estate, IT, Legal, Operations, and Sustainability.”

VL reports that 100% of Finance Executives have concerns with maintaining control over their organization’s lease portfolio, including the ability to maintain compliance with ESG reporting requirements (52%, compared to 44% in 2023), maintaining data accuracy and completeness (49%, compared to 48% in 2023) and reacting to unforeseen circumstances (49%, compared to 46% in 2023). These concerns stem from real consequences, with 99% of Real Estate Executives reporting negative outcomes from inadequate lease controls, including overpaying rent or expenses (36%), the inability to respond to changing circumstances (36%), or missing an opportunity to update unfavorable or unwanted terms (31%).

“Given the significant opportunities and risks associated with leases, we anticipate that optimizing lease-related financial and operational strategies will solidify its place as a top business priority in 2025,” added Michlewicz. “Organizations that embrace this shift will sustain their competitive advantage and resilience in a continuously evolving business landscape.”

Additional key findings from the report include:

• There is significant progress to be made around ESG reporting readiness.
  The majority (55%) of Finance Executives reported that the pause on the SEC climate disclosure rule has impacted their organization’s climate-related reporting efforts, and only 43% say their companies have established related benchmarks (just a 4% increase from 2023).
• The Office of Finance is both interested in and concerned about implementing AI.
  While 100% of Finance Executives agree that AI will benefit the Office of Finance, 48% believe that a lack of strategy around how to use AI to improve efficiency is one of the top concerns facing their industry today.
• Many organizations have a critical collaboration gap that needs to be addressed.
  Ninety percent of Finance Executives believe they are mostly or completely collaborative with the team that manages their company’s commercial real estate leases. Conversely, only 50% of Real Estate Executives believe they are mostly or completely collaborative with their company’s finance team, highlighting a substantial collaboration gap between the many teams who interact with a lease portfolio, including Finance, Real Estate, Sustainability, Operations, Legal, and IT.

To register for VL’s upcoming webinar to review the key report findings, click here. To download the report and view the full data findings, click here.

Visual Lease conducted national surveys of 200 U.S. senior Finance and Accounting Executives and 200 U.S. senior Real Estate Executives at private, public and government organizations with more than 1,000 employees.

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About Visual Lease (VL)

Visual Lease (VL) is the premier platform for integrated lease management and lease accounting, trusted by enterprises worldwide to navigate complex portfolios with precision and ease. As the centralized system of record for all lease-related financial, operational, and legal data, VL is purpose-built to support every team involved in managing a company’s leased and owned assets. Informed by nearly three decades of experience, our platform integrates lease management, lease accounting, and sustainability reporting, enabling organizations to save time, mitigate risks, reduce costs, and support sustainability initiatives. Our award-winning software is used by 1,500+ organizations to manage more than 1 million real estate, equipment, and other leased asset records globally. For more information, visit visuallease.com.

Media Contact
Erica Bonavitacola
Visual Lease
T+1 732 860 4838

We are pleased to announce that Kathryn Eskandarian, Visual Lease’s Chief Financial Officer, has been named a finalist in the​​ 21st annual Stevie® Awards. Kathryn is being recognized in the prestigious category of ​​​​“Female Executive of the Year – Business Services (11 to 2,500 Employees),” of which the winners will be announced during the ​Stevie Award ​gala event on November 8th.

About the Award

The Stevie Awards for Women in Business honor women executives, entrepreneurs, employees and the companies they run – worldwide. The Stevie Awards have been hailed as the world’s premier business awards. More than 1,500 entries from organizations and individuals in 36 nations and territories were submitted this year for consideration in more than 100 categories.

About Kathryn Eskandarian

As Chief Financial Officer at Visual Lease (VL), Kathryn Eskandarian leads the company’s financial operations, along with overseeing key administrative functions including IT, Legal, and Human Resources. Since joining VL, Kathryn has been instrumental in crafting and implementing financial strategies that have fueled the company’s growth and profitability.

Kathryn’s belief that business health relies on informed, data-driven decisions drew her to VL. She recognized the platform’s unique value as a centralized system of record for leases and owned assets – a significant expense area for most organizations. Anticipating VL’s rapid growth, Kathryn developed a robust, scalable financial infrastructure to support the company’s ambitious goals and expanding customer base.

Seven years later, Kathryn remains dedicated to furthering VL’s mission, helping companies gain value from their lease portfolios and making informed decisions that drive business success – all aspects that have led to this prestigious recognition as a top female executive in her field.

VL remains committed to fostering a diverse and inclusive workplace, and is proud to share that its executive leadership team is comprised of 60% women.

Looking Ahead

We look forward to celebrating Kathryn’s achievement and discovering her official ranking at the awards ceremony in November. In the meantime, you can connect with ​​Kathryn on LinkedIn and join us in cheering her on.

​​​For the past three years, Visual Lease (VL) has hosted its Customer Advisory Board (CAB) Summit to engage directly with our most forward-thinking customers and partners.

This year’s event in Las Vegas, Nevada, gathered representatives from 20 companies across various industries, along with several key partners. The CAB Summit is a forum to explore emerging industry trends, provide an exclusive look at VL’s product roadmap, and gather valuable feedback to continuously improve our solutions and deliver even greater value.

At our annual CAB Summit, we also celebrate our Customer Excellence Award winners—a group of companies that have demonstrated remarkable innovation and leadership in their use of the VL platform.

We are proud to honor our 2024 recipients for their achievements and the successes we have achieved together:

Operational Efficiency & Scalability

Acrisure is one of the fastest-growing brokerage firms, scaling from $38 million to $4 billion in just 10 years. Their expanding, complex lease portfolio demanded a dynamic solution. After choosing VL as their system of record, they optimized their processes with VL’s Payments function and quickly expanded to API integrations, building a custom real estate dashboard in Power BI. Together with VL, Acrisure can leverage their lease data to streamline operations, enhance transparency, and manage their growing portfolio with precision.

Exceptional Collaboration

Everus Construction is the first two-time winner of ​a VL Customer ​Excellence Award. Their team consistently provides valuable feedback to VL’s product team and is dedicated to overcoming challenges through collaboration. Everus Construction exemplifies a true symbiotic relationship between technology and business, showcasing how a strong partnership drives mutual success.

Proactive Platform Optimization

RS Components is continuously seeking ways to optimize their use of the VL platform. Their team regularly engages with their VL Customer Success Manager to identify and implement improvements as they navigate significant growth through acquisitions and transition to new auditors.

Innovation & Strategic Improvement

Waste Connections is a long-standing customer of VL’s, maintaining a strong relationship with its Customer Success team for more than seven years. They actively collaborate with their VL Customer Success Manager, continuously update their platform, and take full advantage of new functionalities as they are released. Their commitment to collaboration and continuous improvement sets a high standard for customer engagement and partnership.

Want to make it on next year’s list? Connect with your Customer Success Manager to learn more.

Industry leaders join forces to streamline data management and maintain financial and
sustainability reporting controls for real estate and equipment-related datasets

Woodbridge, NJ – September 9, 2024 — Visual Lease (VL) the premier platform for integrated lease management, accounting, and reporting, today announced a strategic partnership with Workiva, the world’s leading platform for assured integrated reporting, at Workiva Amplify 2024. Both industry leaders are committed to empowering mutual customers to streamline financial and sustainability reporting.

“At VL, we saw firsthand how challenging portfolio management was for the Office of Finance in adopting the accounting standards (ASC 842, IFRS 16, GASB 87 & 96),” said Robert Michlewicz, CEO of Visual Lease. “Sustainability reporting is no different, which is why last year, we launched VL ESG Steward, the first carbon accounting and sustainability management solution for enterprise real estate and equipment portfolios. VL’s solutions are built on decades of industry-leading lease administration and accounting guidance, and we’re thrilled to extend this unique value by partnering with Workiva. Our shared mission is to empower organizations in achieving transparent reporting, which includes the timely and growing need to accurately report against their sustainability goals.”

This announcement comes at a critical time as new and evolving ESG disclosures impact organizations across the globe. While intended to bring transparency and accountability to sustainability reporting, these regulations have simultaneously increased scrutiny and the resulting burden on businesses.

“Navigating portfolio data for financial and non-financial reporting poses a distinctive challenge,” stated Paul Volpe, Senior Vice President of Solutions and Growth, Workiva. “Accurately depicting sustainability impact demands meticulous tracking of real estate and equipment changes alongside financial and climate implications. Through our technology partnership with Visual Lease, our solutions can automate data flows and ensure precision in meeting evolving sustainability disclosure standards and data validation for assurance, as well as empower our shared clients to make informed, data-driven decisions benefiting both their organizations and the environment.”

The importance of dedicated sustainability management and reporting solutions is underscored by the significant role real estate and equipment leases play in many organizations’ overall budget and carbon footprint. Managing these assets can be intricate, especially with leases involved, as portfolio changes affect spending, operational workflows, and environmental implications.

To learn more about how VL ESG Steward – recently named a Leading Compliance Solution by The Stevie Awards® – helps organizations successfully report on this dynamic data, view our quick product overview video.

Visit VL at Workiva Amplify in the Amplify Hub. To learn more about VL and Workiva’s partnership, visit this link.

About Visual Lease (VL)

Visual Lease (VL) is the premier platform for integrated lease management and lease accounting, trusted by enterprises worldwide to navigate complex portfolios with precision and ease. As the centralized system of record for all lease-related financial, operational, and legal data, VL is purpose-built to support every team involved in managing a company’s leased and owned assets. Informed by nearly three decades of experience, our platform integrates lease management, lease accounting, and sustainability reporting, enabling organizations to save time, mitigate risks, reduce costs, and support sustainability initiatives. Our award-winning software is used by 1,500+ organizations to manage more than 1 million real estate, equipment, and other leased asset records globally. For more information, visit visuallease.com.

ABOUT WORKIVA

Workiva Inc. (NYSE: WK) is on a mission to power transparent reporting for a better world. We build and deliver the world’s leading cloud platform for assured integrated reporting to meet stakeholder demands for action, transparency, and disclosure of financial and non-financial data. Workiva offers the only unified SaaS platform that brings customers’ financial reporting, Environmental, Social, and Governance (ESG), and Governance, Risk, and Compliance (GRC) together in a controlled, secure, audit-ready platform. Our platform simplifies the most complex reporting and disclosure challenges by streamlining processes, connecting data and teams, and ensuring consistency. Learn more at workiva.com.
Media Contact

Erica Bonavitacola
Visual Lease
T+1 732 860 4838

Visual Lease’s latest platform extension continues to gain industry recognition for helping organizations track and report on environmental impact data in accordance with all major frameworks and regulations

Woodbridge, NJ – April 25, 2024 — Visual Lease (VL), the #1 lease optimization software provider, today announced that VL ESG Steward was named the winner of a Bronze Stevie® Award in the Compliance Solution category in The 22nd Annual American Business Awards®.

VL ESG Steward is the first tool of its kind within the lease management and accounting space. The software converts consumption data of greenhouse gas emissions (CO2, PFCs, CH4, SF6, N2O, HFCs) using calculations based on the Greenhouse Gas Emissions Protocol and EPA energy grid emissions factors. VL ESG Steward tracks a wide variety of environmental factors across an organization’s portfolio of leased and owned assets, including energy consumption, water usage, waste management and more, and automatically converts it into the standardized measurement of choice.

“As regulations continue to evolve across the U.S. and abroad toward standardizing environmental reporting, companies are prioritizing their lease and owned asset portfolio to gain visibility into a key measurement – their current carbon footprint,” said Robert Michlewicz, CEO of Visual Lease. “VL ESG Steward extends the value of our industry-leading lease management platform, providing our customers with confidence in their lease data so that they can establish related benchmarks, reach corporate sustainability goals and ensure regulatory compliance.”

The American Business Awards are the U.S.A.’s premier business awards program. All organizations operating in the U.S.A. are eligible to submit nominations – public and private, for-profit and non-profit, large and small.

“We appreciate receiving this recognition from The 22nd Annual American Business Awards® for our innovative approach to a new and rapidly evolving business priority,” Michlewicz added. “VL remains committed to helping businesses successfully navigate the regulatory landscape while creating financial and operational value. VL ESG Steward is our next step in satisfying the growing demand for accurate environmental data among investors, consumers and employees alike.”

In February 2024, VL ESG Steward was lauded as a Top New Product in 2024 by Accounting Today. In 2023, VL ESG Steward was recognized as a finalist for a Software as a Service (SaaS) award within the category of Best SaaS Product for CSR, Sustainability and ESG, and also named a Sustainability Product of the Year by the Business Intelligence Group.

VL ESG Steward will also be part of the People’s Choice Stevie Awards for Favorite New Product in the Compliance Solution category. To vote for VL ESG Steward, visit https://peopleschoice.stevieawards.com/.  Public voting ends Friday, May 24.

To learn more about VL ESG Steward, please visit this link.

About the Stevie Awards

Stevie Awards are conferred in nine programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, the Stevie Awards for Sales & Customer Service, and the new Stevie Awards for Technology Excellence. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at www.StevieAwards.com.

About Visual Lease

Visual Lease is the #1 lease optimization solution provider, empowering organizations to leverage their lease portfolio for strategic financial and operational outcomes. Our powerful and secure platform serves as a centralized system of record for all lease financial, operational and legal data, and is purpose-built to support every team that interacts with a company’s lease portfolio. Informed by nearly three decades of experience, our solutions help companies easily sustain compliance with FASB, IFRS, GASB and ISSB reporting requirements, and mitigate the risks and maximize the value associated with their lease records. Our award-winning software is used by 1,500+ organizations to manage more than 1 million real estate, equipment and other leased asset records globally. For more information, visit visuallease.com.

Media Contact:

Erica Bonavitacola
Visual Lease
T+1 732 860 4838
ebonavitacola@visuallease.com