CRE Pre-Closing Process — Office · Industrial · Retail

Manual workload — grouped by family

~502.8h total · 151 checkpoints

1Deal sourcingshared across asset typesSubtotal~35h·13 tasks

2Initial screening — office-specific criteriaSubtotal~34.3h·12 tasks

Criteria met?

Pass on deal?

Yes →Pass. Monitor for re-listing or price cut.

3Full underwriting — officeSubtotal~165.5h·46 tasks

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 vote

IC approved to bid?

No →Document. Watch for re-price.

4LOI & PSA — office-specific provisionsSubtotal~52.8h·13 tasks

5Due diligence — officeSubtotal~103.8h·33 tasks

Issues acceptable / resolvable?

Proceed, retrade, or exit?

Exit →Notice delivered. EM returned if within DD period.

6Debt financingasset-specific notes belowSubtotal~56.3h·14 tasks

7Closing preparationSubtotal~59.8h·21 tasks

All conditions satisfied?

Clear to close?

No →Extension, cure period, or termination.

Closing table

Deed recorded · Funds released · Keys transferred · Ownership conveyed

Manual workload — grouped by family

~471.3h total · 148 checkpoints

1Deal sourcingshared across asset typesSubtotal~34.8h·13 tasks

2Initial screening — industrial-specific criteriaSubtotal~36.5h·13 tasks

Criteria met?

Pass on deal?

Yes →Pass. Monitor for re-listing.

3Full underwriting — industrialSubtotal~144.3h·43 tasks

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 vote

IC approved to bid?

No →Document. Monitor for re-price.

4LOI & PSA — industrial-specific provisionsSubtotal~48.5h·13 tasks

5Due diligence — industrialSubtotal~93.5h·33 tasks

Issues acceptable?

Proceed, retrade, or exit?

Exit →Notice delivered. EM returned if within DD period.

6Debt financing — industrial notesSubtotal~48.3h·12 tasks

7Closing preparationSubtotal~65.5h·21 tasks

All conditions satisfied?

Clear to close?

No →Extension, cure, or termination.

Closing table

Deed recorded · Funds released · Keys transferred · Ownership conveyed

Manual workload — grouped by family

~473.3h total · 156 checkpoints

1Deal sourcingshared across asset typesSubtotal~34.8h·13 tasks

2Initial screening — retail-specific criteriaSubtotal~36.3h·13 tasks

Criteria met?

Pass on deal?

Yes →Pass. Monitor for price reduction.

3Full underwriting — retailSubtotal~151.5h·47 tasks

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 vote

IC approved to bid?

No →Document. Monitor for re-price.

4LOI & PSA — retail-specific provisionsSubtotal~51.8h·14 tasks

5Due diligence — retailSubtotal~100.8h·35 tasks

Issues acceptable?

Proceed, retrade, or exit?

Exit →Notice delivered. EM returned if within DD period.

6Debt financing — retail notesSubtotal~52h·13 tasks

7Closing preparationSubtotal~56.8h·23 tasks

All conditions satisfied?

Clear to close?

No →Extension, cure, or termination.

Closing table

Deed recorded · Funds released · Keys transferred · Ownership conveyed

Manual workload — grouped by family

~370.8h total · 135 checkpoints

1Deal sourcingshared across asset typesSubtotal~35h·13 tasks

2Initial screening — multifamily-specific criteriaSubtotal~33.3h·12 tasks

Criteria met?

Pass on deal?

Yes →Pass. Monitor for re-listing or price cut.

3Full underwriting — multifamilySubtotal~102.8h·35 tasks

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 vote

IC approved to bid?

No →Document. Watch for re-price.

4LOI & PSA — multifamily-specific provisionsSubtotal~48.8h·14 tasks

5Due diligence — multifamilySubtotal~81.5h·33 tasks

Issues acceptable / resolvable?

Proceed, retrade, or exit?

Exit →Notice delivered. EM returned if within DD period.

6Debt financingasset-specific notes belowSubtotal~49h·14 tasks

7Closing preparationSubtotal~53.3h·21 tasks

All conditions satisfied?

Clear to close?

No →Extension, cure period, or termination.

Closing table

Deed recorded · Funds released · Keys transferred · Ownership conveyed

CRE Acquisition Process AI Automation Planning

1Deal sourcingshared across asset typesSubtotal~35h·13 tasks

2Initial screening — office-specific criteriaSubtotal~34.3h·12 tasks

3Full underwriting — officeSubtotal~165.5h·46 tasks

4LOI & PSA — office-specific provisionsSubtotal~52.8h·13 tasks

5Due diligence — officeSubtotal~103.8h·33 tasks

6Debt financingasset-specific notes belowSubtotal~56.3h·14 tasks

7Closing preparationSubtotal~59.8h·21 tasks

1Deal sourcingshared across asset typesSubtotal~34.8h·13 tasks

2Initial screening — industrial-specific criteriaSubtotal~36.5h·13 tasks

3Full underwriting — industrialSubtotal~144.3h·43 tasks

4LOI & PSA — industrial-specific provisionsSubtotal~48.5h·13 tasks

5Due diligence — industrialSubtotal~93.5h·33 tasks

6Debt financing — industrial notesSubtotal~48.3h·12 tasks

7Closing preparationSubtotal~65.5h·21 tasks

1Deal sourcingshared across asset typesSubtotal~34.8h·13 tasks

2Initial screening — retail-specific criteriaSubtotal~36.3h·13 tasks

3Full underwriting — retailSubtotal~151.5h·47 tasks

4LOI & PSA — retail-specific provisionsSubtotal~51.8h·14 tasks

5Due diligence — retailSubtotal~100.8h·35 tasks

6Debt financing — retail notesSubtotal~52h·13 tasks

7Closing preparationSubtotal~56.8h·23 tasks

1Deal sourcingshared across asset typesSubtotal~35h·13 tasks

2Initial screening — multifamily-specific criteriaSubtotal~33.3h·12 tasks

3Full underwriting — multifamilySubtotal~102.8h·35 tasks

4LOI & PSA — multifamily-specific provisionsSubtotal~48.8h·14 tasks

5Due diligence — multifamilySubtotal~81.5h·33 tasks

6Debt financingasset-specific notes belowSubtotal~49h·14 tasks

7Closing preparationSubtotal~53.3h·21 tasks

CRE Acquisition Process
AI Automation Planning