Underwrite the whole deal
The documents you already have, turned into a model you can defend.
Extraction you can check
Drop the offering memorandum, rent roll, T-12, lease schedule, or operating statement. Altyst pulls the numbers and reconciles the documents against each other.
- Reads PDF, Excel, CSV, Word, text, and photos of a page
- Extracts the rent roll, trailing financials, and tenants
- Flags conflicts, missing fields, and low-confidence values
- Every extracted value is flagged for your review, with its source and confidence
A live, deterministic financial model
Gross rent to effective gross income to NOI, then debt, returns, and downside. Change any input and the whole model recomputes in exact decimal.
- Independent rent and expense growth, reserves, CapEx, per-line trends
- Debt sizing on LTV, minimum DSCR, or debt yield, with IO and refinance
- Lease rollover with TI, LC, downtime, renewal probability, expense stops
- Levered and unlevered IRR, equity multiple, yield on cost, DSCR by year
- Write live formulas in cells, pin any year or month, add custom lines
| Line | Yr 1 | Yr 2 | Yr 3 |
|---|---|---|---|
| Gross rent | 4,871 | 5,066 | 5,268 |
| Other income | 198 | 203 | 210 |
| Vacancy | (341) | (355) | (369) |
| Opex | (1,708) | (1,759) | (1,812) |
| NOI | 3,020 | 3,155 | 3,297 |
Every number traces to its source
Click any figure to see the formula behind it and the document it came from. AI reads the documents; the engine does the math, the same way every time.
- Formula and dependency behind every output
- Document provenance and extraction confidence on inputs
- Self-checks that reconcile the model end to end
- Same inputs, same result, every time
Exports that match the model
An Excel workbook with live formulas, a one-page memo, and a deck for committee. Every figure ties back to the engine, so the file you send matches the model you built.
- Workbook with assumptions, cash flow, debt, scenarios, sensitivities
- PDF memo carrying the call, the returns, the drivers, the risks
- Full provenance trail and self-checks included
- Nothing to reformat before you send it
One engine, every type
Multifamily
In-place versus market rent with loss-to-lease, concessions and bad debt out of income, and a per-unit renovation that ramps rents as units turn. Conventional, student, and single-family rentals all run here.
Office and retail
Tenant-by-tenant rollover with improvements, commissions, downtime, and renewal odds per lease. Recoveries and, for retail, percentage rent above the breakpoint. Free rent carried as an abatement.
Industrial
Warehouse, flex, and self-storage on the same rollover and debt engine, with the shorter WALTs and lighter tenant improvements these assets carry.
Mixed-use
Apartments over ground-floor commercial, each on its own terms inside one deal, so residential income is never folded into the commercial roll-up.
Land and development
Construction budget and carry, lease-up absorption to stabilization, then an exit with development profit and margin.
Hotel and hospitality
Keys, occupancy, and ADR drive rooms revenue, with departmental profit, management and franchise fees, and an FF&E reserve down to NOI. A renovation or PIP carries its own room displacement.
What you can model
Operating pro forma
Gross rent to effective gross income to NOI, with rent and expenses on separate growth curves, per-line trends, reserves, and CapEx.
Debt and financing
Size on LTV, minimum DSCR, or debt yield. Senior and mezzanine tranches, an interest-only period, and a bridge to refinance with cash-out.
Lease rollover
Tenant-by-tenant expiry with TI, LC, downtime, renewal probability, base-year expense stops, recoveries, and free rent.
Scenarios and sensitivities
Base, upside, and downside side by side, with two-way sensitivity grids on the drivers that move the deal.
Partnership waterfall
Preferred return, GP and LP splits, promote, multiple IRR hurdles, and a GP catch-up.
Reprice and exit
Reprice in one click to the bid that hits your return, and set the exit on a forward-NOI cap with selling costs.