CRE Acquisition Process
AI Automation Planning

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Manual workload — grouped by family

~500.3h total · 151 checkpoints

1Deal sourcing

shared across asset types

2Initial screening — office-specific criteria

Criteria met? Pass on deal?

Pass. Monitor for re-listing or price cut.

Continue to full underwriting.

3Full underwriting — office

OfficeOffice underwriting is lease-by-lease and rollover-driven. The key risk is expiration concentration and re-leasing costs (TI + LC), not per-unit rents.

IC approved to bid?

Proceed to LOI.

Document. Watch for re-price.

4LOI & PSA — office-specific provisions

5Due diligence — office

Issues acceptable / resolvable? Proceed, retrade, or exit?

Proceed to financing.

Notice delivered. EM returned if within DD period.

6Debt financing

asset-specific notes below

7Closing preparation

All conditions satisfied? Clear to close?

Close.

Extension, cure period, or termination.

Closing table

Deed recorded · Funds released · Keys transferred · Ownership conveyed

Manual workload — grouped by family

~468.8h total · 148 checkpoints

1Deal sourcing

shared across asset types

2Initial screening — industrial-specific criteria

Criteria met? Pass on deal?

Pass. Monitor for re-listing.

Continue to full underwriting.

3Full underwriting — industrial

IndustrialIndustrial underwriting is dominated by lease structure (almost always NNN), WALT, rent-to-market gap, and functional obsolescence risk. Operating expenses are minimal for the landlord under NNN structures.

IC approved to bid?

Proceed to LOI.

Document. Monitor for re-price.

4LOI & PSA — industrial-specific provisions

5Due diligence — industrial

Issues acceptable? Proceed, retrade, or exit?

Proceed to financing.

Notice delivered. EM returned if within DD period.

6Debt financing — industrial notes

7Closing preparation

All conditions satisfied? Clear to close?

Close.

Extension, cure, or termination.

Closing table

Deed recorded · Funds released · Keys transferred · Ownership conveyed

Manual workload — grouped by family

~472.5h total · 156 checkpoints

1Deal sourcing

shared across asset types

2Initial screening — retail-specific criteria

Criteria met? Pass on deal?

Pass. Monitor for price reduction.

Continue to full underwriting.

3Full underwriting — retail

RetailRetail underwriting is the most complex of the three — co-tenancy clauses, percentage rent, dark anchor risk, and consumer trend exposure all require deep lease-by-lease analysis. Anchor tenant health is often the single biggest value driver.

Key riskCo-tenancy clauses — if an anchor goes dark, inline tenants may have rights to pay reduced rent or terminate. Model co-tenancy exposure carefully in downside scenarios.

IC approved to bid?

Proceed to LOI.

Document. Monitor for re-price.

4LOI & PSA — retail-specific provisions

5Due diligence — retail

Issues acceptable? Proceed, retrade, or exit?

Proceed to financing.

Notice delivered. EM returned if within DD period.

6Debt financing — retail notes

7Closing preparation

All conditions satisfied? Clear to close?

Close.

Extension, cure, or termination.

Closing table

Deed recorded · Funds released · Keys transferred · Ownership conveyed

Manual workload — grouped by family

~368.3h total · 135 checkpoints

1Deal sourcing

shared across asset types

2Initial screening — multifamily-specific criteria

Criteria met? Pass on deal?

Pass. Monitor for re-listing or price cut.

Continue to full underwriting.

3Full underwriting — multifamily

MultifamilyMultifamily underwriting is unit-by-unit and turnover-driven. The key levers are loss-to-lease, renovation premium, and operating expense control — not single-tenant credit risk.

IC approved to bid?

Proceed to LOI.

Document. Watch for re-price.

4LOI & PSA — multifamily-specific provisions

5Due diligence — multifamily

Issues acceptable / resolvable? Proceed, retrade, or exit?

Proceed to financing.

Notice delivered. EM returned if within DD period.

6Debt financing

asset-specific notes below

7Closing preparation

All conditions satisfied? Clear to close?

Close.

Extension, cure period, or termination.

Closing table

Deed recorded · Funds released · Keys transferred · Ownership conveyed

CRE Acquisition Process AI Automation Planning

1Deal sourcing

2Initial screening — office-specific criteria

3Full underwriting — office

4LOI & PSA — office-specific provisions

5Due diligence — office

6Debt financing

7Closing preparation

Closing table

1Deal sourcing

2Initial screening — industrial-specific criteria

3Full underwriting — industrial

4LOI & PSA — industrial-specific provisions

5Due diligence — industrial

6Debt financing — industrial notes

7Closing preparation

Closing table

1Deal sourcing

2Initial screening — retail-specific criteria

3Full underwriting — retail

4LOI & PSA — retail-specific provisions

5Due diligence — retail

6Debt financing — retail notes

7Closing preparation

Closing table

1Deal sourcing

2Initial screening — multifamily-specific criteria

3Full underwriting — multifamily

4LOI & PSA — multifamily-specific provisions

5Due diligence — multifamily

6Debt financing

7Closing preparation

Closing table

CRE Acquisition Process
AI Automation Planning