01
Paste IM, ship memo, in minutes
Paste a broker offering memorandum, review what the AI extracted with verbatim source quotes, click through to a full IC memo. The flow that takes most teams a half-day takes minutes here.
Built for review, not theater
Reviewable CRE underwriting, with math you can defend.
A browser-based underwriting desk for real estate investors who need speed, auditability, and an IC memo they can defend. Paste a broker IM, review the quotes, run the deterministic engine, and open a memo with every section tied back to methodology and source.
392
regression assertions and counting
138
live Phase 3 modules
0
LLM math in the return engine
What is Underwrite
CRE underwriting that is fast and has a paper trail.
Early-stage CRE review is usually fast but thin, or careful but slow. Underwrite is the desk for sponsors, acquisitions analysts, and LPs who need both: speed for triage, defensibility for IC.
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138 live Phase 3 modules
Monte Carlo distribution, leverage curve, live macro alignment, refinance rate risk, LP suitability index, GP promote yield. Every metric an institutional IC reads on a real deal, computed deterministically.
03
Reviewable engine source
The methodology page links straight into the TypeScript files that produce the math. No black box. No LLM compute in the return path. Same inputs always produce the same outputs.
How it works
Three steps from broker IM to defensible memo.
Step 1
Paste the broker IM
Drop in a memo, marketing flyer, or rent roll. The AI parser extracts purchase price, NOI, debt assumptions, and tenant detail with source quotes you can click to verify.
Step 2
Edit any field, instantly
Override the AI's extracted values where you want different assumptions. The deterministic engine recomputes every metric in real time as you type.
Step 3
Open the IC memo
Returns, risk, capital stack, operations, diagnostics. Print to PDF, share a link, export to Excel. Or hit it again with the Confidential Mode toggle to keep AI off entirely.
Inside the IC memo
138 live Phase 3 modules in every deal.
Each section is a deterministic engine module with regression-locked canonical values. Here are a few of them, ordered the way an IC committee would read them.
Section
Deal Strength Score
Section
Monte Carlo Distribution
Section
Sponsor Co-Invest Sweep
Section
Stress Test Matrix
Section
Lender Risk Rating
Section
Refinance Rate Risk
Section
Capital Stack Visualization
Section
GP Promote Yield
Section
Reserve Adequacy
Section
Sale vs Refinance Decision
Section
Real (Inflation-Adjusted) Returns
Section
LP Suitability Index
Why trust the output
Every claim above can be inspected.
392 regression assertions
Each canonical metric on the Cherry Street anchor deal is locked by a test that runs against production on every deploy.
Reviewable engine source code
The methodology page reads live TypeScript files and renders them as you would in your IDE. No proprietary black box.
Click-to-verify AI
Every field the parser populates carries the verbatim source quote that supported it. Click any extracted field to highlight the source text.
Confidential mode
Toggle disables the parser and share flows. Engine runs in your browser. Saved deals never leave local storage.
Open diligence trail
Read the math before you trust the output.
Pricing
Paid beta access. Starts at $49 per month.
No automatic charge. Ali reviews fit and scope before activation. The Cherry Street demo, public methodology, and shipping log remain open for review.
Analyst
$49/mo
Pro
$149/mo
Team
$399/mo
AA
Founder note
“The first pass through a CRE deal shouldn't cost you a half-day in Excel, and it shouldn't cost you the audit trail. Underwrite is the desk I wanted to use myself: fast enough for triage, defensible enough for IC.”
Ali Azim | Founder | Cornell MPS-RE candidate