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We expect adjusted EBITDA for the full year 2020 to be in the range of $525 million to $530 million, which is an increase of approximately $8 million at the midpoint of the range from our prior full year guidance.

We recently began hiring sales team members to support growth across all our businesses, which is a good sign, and we'll soon start building the LoopNet sales force that Andy mentioned. We didn't do one at a time, we did five at a time, ten at a time. Before I turn the call over to Andy Florance, CoStar's CEO and Founder; and Scott Wheeler, our CFO, I would like to review the safe harbor statement. Sarah Spray 202-346-6394 sspray@costar.com. At present, we're tracking about 630,000 new apartment units under construction. Now, let's take a look at some performance metrics for the quarter, none of which include any performance metrics for STR, which we'll add later in this year. I mean that's giving us great results from LoopNet, gave us our best sales quarter ever, LoopNet. As a reminder, today's conference call is being webcast, and the link is also available on our website under Investors. I look forward to updating you on this year's results and discussing our 2021 operating plans in February 2021. Now, some of the new particularly valuable customers to us for CoStar -- so an important area for us in CoStar is selling to owners that we are in the early stages of penetrating that opportunity. That's the way Bloomberg has segmented their products. 2,000 landlords have purchased ads via E-commerce and over 2,000 potential renters have completed online applications.

We'd love to see those develop rapidly in the first half and really take off in the second, but at this stage we're planning on really taking the large market and decent momentum into the mid-markets, but really much beyond that in our forecast right now. As a result, we ended the year with net new bookings, up over 45%. Please go ahead. It certainly wasn't a straight line from there to here, but we're very pleased that our team was able to deliver the profit numbers that we guided to at the start of the year despite all of the disruption and dislocation. Our focus on Ten-X right now is it's integrating the platforms. Giving these clients consistent, convenient information solutions in one integrated offering is invaluable to them. So in terms of how we incent the CoStar sales force on LoopNet production, I will take a shot at that. We'll need the year to get the technology integration that Andy mentioned done and just start rolling out some of the new products in a more meaningful way and so post 2021 is when we'll start to see that revenue ramp up, go higher in STR. We know from CMBS delinquency and special servicing rates that a wave of distressed assets in hospitality and retail is coming, and the Ten-X platform is expected to give us insight in the investor demand for those properties. We certainly see solid growth starting into the year. CoStar Suite revenue growth was 6% year-over-year in the third quarter, slightly ahead of our forecast. Now that that sales team is kind of up and running, how should we or how are you guys thinking about the unit economics for that particular segment? The little supply is under way and some markets are even seeing a net reduction space as the front big boxes or malls are repurposed. Again, these are -- these investments are not nearly as large as the investments we've made when we went into the United Kingdom. So, we could debate the semantics of potential there, but we can all agree it's large and the nice thing about is it's also -- it continues to differentiate us as a particularly valuable vendor to folks who are flowing capital cross-border, so when you look at some of the bigger markets, London, New York, often, more than half, as much as 70% of the capital going into investment-grade properties, is crossing borders.

Right. [Operator Instructions]. STR adjusted EBITDA is expected be roughly breakeven in the first half of the year and turning positive beginning in the third quarter, after we move past those purchase accounting adjustments. Sarah Spray. They can go a little bit further than that but roughly $150 per month. I wonder if you can comment Andy or Scott on that and then sort of what that total segment growth should look like over time as STR ramps up? I'm very pleased that CoStar continued to deliver outstanding growth throughout 2019. We built out much of our U.S. coverage 10 to 15 years ago this way and some of the European coverage about 10 years ago, five years ago. Sure, so I don't think anyone ever taught me about phasing, we just do it all at once. And your next question will come from the line of Brett Huff of Stephens. You can sign up for additional alert options at any time. We generate strong double digit growth across all our primary businesses with multi-family leading the way with 21% year-over-year growth. We'll build income and expense models that customers can use to build their assumptions on acquisitions, valuations or developments. It's exciting. Our adjusted EBITDA crossed over the $0.5 billion mark this year and reached $507 million, an increase of 21% over the full year of 2018 with adjusted EBITDA margins improving to 36%, a 110 basis points increase over adjusted EBITDA margins in 2018. Let's conquer your financial goals together...faster. So you know, as soon as we finish that, someone in New York will be able to see thousands of properties in Sao Paulo or in Buenos Aires or in Tokyo. I think we knew where he was going.

So we'll use RentPath and rent.com in particular as a vehicle to enter this new, smaller property market in which we're less than 1% penetrated right now. That was certainly not the case this year. See you at the top! The vast majority of cancellations from the second quarter occurred among small, 1- and 2-agent broker shops. In the third quarter, LoopNet's record high in average monthly unique visitors at 8.3 million supported that revenue growth. It's great when you can do a deal where you're converting revenue into EBITDA. Washington, DC 20005 Over the past 10 years, we've deployed approximately $6 billion for acquisitions and have leveraged operating cash, equity raises and short-term debt in roughly equal parts to fund these deals. To preserve the value and impact of a diamond or platinum signature ad, we capped the inventory to three or 10 respectively per sub-market.

Nowhere. Actual results may differ materially from the results anticipated in the forward-looking statements and the assumptions and estimates used as a basis for the forward-looking statements. After submitting your request, you will receive an activation email to the requested email address. Those are often being sold by relatively junior, new people to the sales world for us in our mid-market group.

So can you just discuss the LoopNet marketing plans? CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, They're selling but -- they're profitable, but we just need more resources, and we'll be doing that over the next year or so. The likes of Google, Apple, Amazon, Microsoft and others have been very active acquiring office space. Please go ahead. The sell-through rate is going up. Company, LLC So I don't think there's a huge sag as we invest in bringing these people on board. I think that as the value propositions of digital marketing continue to grow for these owners, I think that number can -- there's room to grow there overall pretty significantly. You must click the activation link in order to complete your subscription. I wanted to dig into the growth that you're seeing in multifamily bookings a bit.

It seems that fewer being forced to trade today as underwriting standards and leverage were more conservative going into this downturn than the last. CoStar Group plans to integrate the Ten-X auction platform into both LoopNet and CoStar, thereby exposing the auctions to CoStar Group’s massive online commercial real estate audience with 11 million monthly visits. The other thing RentPath helps support us with is that it enabled us -- RentPath -- probably the most important thing RentPath does for us is it enables us to enter a completely new market to us and that is this I/O market place, so the URL Rent.com is very valuable, in particular in our relationship and partnership with Google to build great SCO around words that people tend to associate with renting a townhouse, a house or a condo or a walk-up unit in a property. Looking to the economy and the current state of the commercial real estate, we see a labor market recovery that is noticeably slowing. In the first few months, this new sales team is doubling their sales production each month. Your next question will come from the line of Stephen Sheldon of William Blair. CoStar Group 1331 L Street, NW Washington, DC 20005 888-226-7404 Investor Email Alerts. To participate in the conference call, please register online in advance at http://www.directeventreg.com/registration/event/9987236. It's called the Frank Carchedi theory. And as you do that -- and then also, we're -- yes, so as we do that, we're making good progress there. For more information, visit www.costargroup.com. I believe the average ad was about $14 a month back in 2011.

We are going to watch it really closely and grow it. But we just have so much opportunity on the LoopNet side and so much opportunity on the CoStar side. Cash and investment balances were approximately $3.9 billion as of September 30, 2020, up over $300 million since the last quarter. Following the integration of the ForRent acquisition in 2018, the team was at full strength and focused on growing throughout 2019.

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