The commercial real estate industry has been particularly impacted by the COVID-19 pandemic currently wreaking havoc on the U.S. economy. Tenants are seeking rent reductions or may have even stopped paying rent altogether, while borrowers are requesting loan modifications or forbearances.
Meanwhile, lenders and investors are demanding prompt property and loan performance information from asset managers, well aware that COVID’s worst impact may not be felt for nine to 12 months. Swift actions and access to accurate, real-time information are paramount to saving lenders and investors hundreds of millions of dollars in losses. SpaceQuant’s AI-powered automation and decision platform for valuing and monitoring commercial real estate performance help them achieve just that.
SpaceQuant developed the world’s first automation technology for analyzing property financial documents. Its software processes property financial data in real-time, providing comprehensive analysis at a level of detail and speed impossible previously, allowing for fast and confident decision making.
Leading lenders and servicers leverage the technology already, including Pacific Life Insurance, JLL, Waterfall Asset Management, Hudson Advisors, and many others.
Leading CRE Companies Reap Major Benefits from Automation in COVID Era
“As our commercial mortgage servicing portfolio continues to grow, we needed to find a platform to support that growth, without necessarily increasing our analyst group. We were able to achieve that for our CMBS loans with SpaceQuant,” said JLL Director in Asset Management, Fernando Salazar. “The time to spread a property financial statement was reduced while increasing the quality and consistency, and allowing more time for a detailed analysis of the output. We were impressed with the level of automation and accuracy of real-time data transformation from SpaceQuant.”
“The SpaceQuant solution offers an excellent level of automation and delivers highly accurate results,” said Kim Nguyen of Pacific Life Insurance, which services $23 billion in commercial real estate assets. “SpaceQuant has removed most of the manual work that was taking a lot of time from our team. The solution allows us to focus on more productive, higher-level work, and we get the results much faster.”
In the CMBS space, SpaceQuant customers get access to detailed property data three months before the rest of the CMBS market can – this is especially critical in the COVID world of today, as the volume of non-performing assets multiplies in the months ahead. Access to real-time information is essential for lenders, servicers, and asset managers to make timely decisions and mitigate the risk of losses in their portfolios.
The SpaceQuant Advantage
Built with the latest AI technologies, SpaceQuant’s platform helps businesses digitally transform their asset management, loan origination, and investment processes to enable timely data-driven decision making.
SpaceQuant enables automated real-time processing and analysis of property financial documents, including rent rolls and operating statements, regardless of their format (scanned images, pdf files, excel, and other document types). As opposed to traditional asset management systems that require all property data to be inputted manually, SpaceQuant’s highly automated process enables ingesting a scanned document and provides an interactive web-based analysis in real-time.
Additionally, SpaceQuant’s robust big-data infrastructure processes millions of data-points and enriches property data with external location and market metrics to provide holistic property and portfolio insight.
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