Thomas Circle-based CoStar Group, a commercial real estate information and analytics provider and manager of Apartments.com, reports that it’s set to acquire Atlanta-based RentPath out of bankruptcy. The acquisition deal is valued at $588 million in cash.

RentPath is a digital marketplace connecting consumers with housing options. The company manages a portfolio of websites including Rent.com and Apartment Guide.

“RentPath has a 30-year track record of outstanding service to the multifamily industry, developing thousands of meaningful customer relationships,” said Andrew Florance, founder and CEO of CoStar Group, in a statement. “Following restructuring in bankruptcy, CoStar Group expects the combined companies to benefit from synergies and plans to invest in building RentPath’s online brands and traffic to provide improved quantity and quality of lead flow to advertising clients.”

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