Real estate and asset lease abstraction can be cumbersome, tiring, and time consuming. Leverton provides a holistic solution to digitize and automate the lease abstraction process, provide a layer of human review, and output the results directly to leading real estate platforms like MRI, VTS, Yardi, JDEdwards, and Argus.
Whether you’re in due diligence or asset management mode, real estate lease abstractions can take anywhere from 4 to 8 hours per lease. This is a mind-numbing amount of time for anyone to spend pouring over old, scanned documents. In addition, complex leases have intricate terms and conditions like CAMs, assignments, amendments, escalations, co-tenancies, and expense reimbursements that need to be carefully reviewed and documented. Finally, all of this information has to be ported over to existing accounting and data repository platforms.
Leverton abstracts over 1,000 key data points from office, industrial, retail, multi-family, telecoms, revenue, expenses, and many other types of leases. The key is our out-of-the-box trained AI that accelerates the abstraction process along with our four-eyed human review service that fills in any nuanced gaps. The data is highly structured and can be used for contract analytics and better negotiations in the future. You’ll never miss a critical data or dollar again!
Priam Properties, a mid-sized real estate private equity firm, implemented Leverton in order to reduce the overhead and time spent on reviewing leases during due diligence and ongoing property management/lease administration. Leverton was chosen due to the highly accurate set of data that was produced and the ease of which the data could be audited, which was essential for Priam’s public offering. Leverton extracted 800 data points covering critical dates, dollars renewals, terminations, ROFO/ROFs, audits, subleases, CAM, TI, and many more advanced topics and enabled an API integration into a leading lease admin solution with additional portfolio and contract analytics showcasing trends by geography and location. The lease review time was reduced from 8 hours to 1-2 hours. Priam Properties portfolio grew from 100 leases to 400 in 18 months, with Leverton supporting each transaction.
Leverton Provides ROI
Reduces lease abstraction time to less than 2 hours with 24-48 hour turnaround times
Provides full audit trail and highly accurate data
Integrates with leading real estate accounting and data platforms like MRI, VTS, Yardi, and others