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Andy Thomas Leads CoStar Lease Accounting Software Solution

Andy Thomas leads CoStar lease accounting software solution

For nearly 20 years, corporate real estate veteran, M. Andrew (Andy) Thomas, has served as President of CoStar Real Estate Manager, a division of CoStar Group, Inc.  Today, Thomas is responsible for the company’s laser focus on its industry-leading lease management software instrumental in helping companies meet compliance deadlines for new lease accounting standards by FASB and IASB.  

CoStar Real Estate Manager supports every aspect of the real estate lifecycle, enabling corporations to better manage the execution of set strategies to meet company goals. With numerous successful enterprise lease accounting implementations, CoStar’s Fortune 1,000 customers can monitor, control and continuously optimize corporate leasing practices.

With time running out until the new lease accounting standards take effect, CoStar’s software is a recommended solution for companies that have not yet adopted ASC 842 and IFRS 16. CoStar’s Lease Manager software is delivered in a software-as-a-service (SaaS) format and offers out-of-the-box functionality that includes balance sheet impact, classification tests, amortization schedules, journal entry processing and GL system integration. To ensure compliance with Sarbanes Oxley’s requirement to demonstrate effective internal controls and procedures for financial reporting, CoStar’s platform completes an SSAE 16 audit annually. Under his leadership, Thomas has led CoStar to great success. A graduate of the University of Pennsylvania’s Wharton School and the Georgia Institute of Technology, Thomas’ commercial real estate career has included leadership positions at RealEstate.com, Portman Holdings and Equitable Real Estate Investment Management, with involvement in acquisitions, debt placement, CMBS investment and servicing, and asset management of commercial real estate assets.