The operating system for institutional CRE underwriting. Drop a deal package — extract, model, score, compare, and share a 10-year underwriting in one sitting.
OM, T12, rent roll, market PDFs. AI extracts rents, expenses, debt terms, unit mix, and market data — every field source-cited back to the page it came from.
Identify → Intake → Augment → Review. The wizard walks the deal through assumptions, debt stack, GP/LP waterfall, and renovations — flagging conflicts as it goes.
0–100 deal score, benchmark badges, full sensitivity grids, and side-by-side comparison across your active pipeline.
Bank-ready Excel with live formulas, IC memo PDF (three tones), CSV, or a read-only share link. Your principal sees exactly what you see.
OM, T12, rent roll, and market PDFs parsed into structured assumptions. Source-tagged, editable, auditable.
NOI, levered & unlevered IRR, equity multiple, cash-on-cash, DSCR — recomputed on every keystroke.
Senior, mezz, supplemental. IO periods, refi scenarios, DSCR sizing, side-by-side debt scenarios.
Pref return, catch-up, promote tiers. Solve for LP IRR or GP carry — full distribution detail per period.
Per-unit reno scope, rent premiums, re-tenant pace, CapEx schedule. See exactly how much IRR comes from the value-add.
Cap × rent, cap × price, price ladder, reno grid. Pressure-test the deal before the partner asks.
0–100 score per deal, benchmark badges against market, and constraint pills for DSCR, LTV, and yield-on-cost.
Every number traces to a source document, page, and line. The audit tab flags conflicts across docs automatically.
Board and table views of your active deals. Compare two or three side-by-side with normalized assumptions.
Click any cell to see the source document, page, and line. Conflicts across the OM, T12, and rent roll are flagged automatically. Assumptions that drift outside the benchmark band get a badge — so you catch it before your IC does.
Drop nearby trades. We compute median $/unit, cap rate, and plot subject vs market. Adopt market into your underwriting in one click.
Upload a CoStar or Yardi Matrix PDF. AI pulls rent growth, occupancy, and supply pipeline. We flag when your underwriting drifts >100bps from market.
Board and table views of every active deal. Filter by score, sponsor, asset class, or market. Select two or three and run a normalized side-by-side — same engine, same assumptions, no apples-to-oranges.
Same core engine the institutions use — rent roll + T12 extraction, debt stack, waterfall. Plus the three things they don't have: per-cell provenance, deal scoring, and a real pipeline view. No Excel add-on required.
| Capability | Underwriter | redIQ Radix | Dealpath | Archer |
|---|---|---|---|---|
Rent roll + T12 extraction | via partners | |||
Multi-asset (MF · Office · Industrial) | MF + SFR only | MF-leaning | ||
Per-cell source citations Every extracted number traces to a document, page, and line. | ||||
Automatic conflict detection across docs | ||||
0–100 deal score + benchmark badges | deal screen only | |||
Full 10-yr engine + GP/LP waterfall in-app | Excel add-on | |||
Normalized multi-deal compare | pipeline only | |||
Pipeline board + table | ||||
AI IC memo (three tones) | ||||
No Excel add-on, no install | Excel ribbon required |
On the roadmap. We'd rather under-promise here than oversell.
Comparison based on publicly available product information as of June 2026. Product names and trademarks belong to their respective owners. We'll update this as competitors ship.
Every formula is wired — capital stack, debt amortization, waterfall tiers, sensitivity grids. Send it to a lender, drop it in your IC packet, hand the data to a Python notebook, or share a read-only link with your principal.