Real Estate 2025: FLORANCE, ANDY

CoStar Group, a real estate marketplace and analytics company, owns Homes.com, Apartments.com, LoopNet and STR, among others. In March, the company moved its headquarters from Washington, D.C., to Arlington County, a $20 million investment on top of its $339 million purchase of the 560,000-square-foot tower on Wilson Boulevard.

Over the past year, CoStar has acquired Ag-Analytics, Matterport and Visual Lease. In May, Florance announced the company’s agreement to acquire property listings platform Domain Holdings Australia for $1.9 billion, a deal expected to close in the third quarter of 2025. In July, CoStar sued Zillow for allegedly using nearly 47,000 of CoStar’s copyrighted photos on its listing sites, as well as its partners’ sites.

With $2.7 billion in 2024 revenue, CoStar has more than 6,800 employees across 13 countries, and it is nearing completion on its $460 million Richmond campus expansion on the James River, which is expected to be finished by May 2026.

Florance started CoStar in 1986 in his Princeton University dorm room, and it went public in 1998. He serves on the Virginia Commonwealth University’s board and was vice rector for the past year.

Return to the full list of this category’s recipients.