Built AI · The AI-native operating system for institutional real estate
Global Portfolio
Overview
- Live: reconciled 2m ago
- AUM: $24.0B (▲ 1.2%)
- Net equity: $9.6B (▲ 0.4%)
- Occupancy: 88.1% (▼ 0.3)
- NOI ttm: $1.42B (▲ 1.8%)
- Leverage: 60.0% (LTV · flat)
- Close in: 11d (on track)
Future Projections
NOI vs plan $M · quarterly
| Quarter | NOI vs Plan |
|---|---|
| Q3 FY24 | −2.1% (Block 37) |
Allocation by GAV
| Type | Percentage |
|---|---|
| Office | 34% |
| Multifamily | 27% |
| Industrial | 22% |
| Retail | 11% |
| Other | 6% |
Debt Maturities
| Year | Amount ($M) |
|---|---|
| FY26 | 610 |
| FY27 | |
| FY28 | |
| FY29 | |
| FY30 |
Today's Priorities
- High: Block 37 - cure plan for DSCR test
- Medium: Approve Q2 valuations - Fund III
- Medium: One Beacon - anchor LOI terms
- Low: Investor letter draft - Fund IV
- Medium: Renewal strategy - Gateway anchor rolls FY27
Watchlist
| Asset | DSCR | LTV |
|---|---|---|
| Block 37 | 1.24× | |
| Brookfield Pl. | 75.8% | |
| One Beacon | Leasing LOI signed | |
| Riverside | NOI vs plan +2.4% | |
| Gateway Logistics | Occ 96.4% |
AI Insights
- Distribution risk: Fund III trending to breach by Q3
- Refi window: spreads tightened 18 bps
- Concession creep: multifamily 1.7% over market
- Lease rollover: 14% of GLA rolls FY27
Operating › Block 37 › Levered cashflow
Levered Cashflow
| Line ($000s) | FY25 | FY26 | FY27 | FY28 |
|---|---|---|---|---|
| Gross potential rent | 13,640 | 14,210 | 14,690 | 15,180 |
| Vacancy & credit loss | (1,160) | (1,240) | (1,180) | (1,210) |
| Operating expenses | (4,990) | (5,210) | (5,320) | (5,460) |
| Net operating income | 7,490 | 7,760 | 8,190 | 8,510 |
| Debt service | (6,250) | (6,250) | (6,250) | (6,250) |
| Levered cash flow | 1,240 | 1,510 | 1,940 | 2,260 |
IRR Sensitivity Levered · 10-yr Hold
| Exit Cap | Rent + 2.5% | Rent + 3.0% | Rent + 3.5% |
|---|---|---|---|
| 5.25% | 20.3 | 21.2 | 22.0 |
| 5.50% | 18.7 | 19.6 | 20.4 |
| 5.75% | 17.2 | 18.0 | 18.8 |
Operating › Block 37 › Variance & Covenants
Covenant Monitor
- NOI vs Plan: −2.1% (▼ $164k)
- Occupancy: 91.2% (▼ 0.8)
- DSCR: 1.24× (→ 1.18× Aug 1)
- LTV: 59.5% (vs 80% covenant)
Covenant Package - Senior Loan Next Test
| Test | Threshold | Now | Aug 1 F | Status |
|---|---|---|---|---|
| DSCR | ≥ 1.20× | 1.24× | 1.18× | Forecast breach |
| LTV | ≤ 80.0% | 59.5% | 60.1% | Pass |
| Debt Yield | ≥ 8.0% | 8.3% | 8.1% | Watch |
Variance Drivers Explained
- Turnover cost: −$86k (2 move-outs)
- Concessions: −$47k (1.7% over market)
- Tax reassessment: −$31k (appeal filed)
- Total vs plan: −$164k
Operating › Lease Roll
Lease Roll - Next 24 Months
- 41,800 sq ft in next 12 months
| Tenant | Suite | Sq ft | Expiry | Renewal Odds |
|---|---|---|---|---|
| Gateway anchor | A-100 | 28,400 | Mar 2027 | 68% |
| Block 37 | 120 | 46,900 | Nov 2026 | 82% |
| Block 37 | 131 | 6,500 | Nov 2026 | 74% |
| One Beacon | 900 | 12,200 | Jun 2028 | 91% |
| Meridian | 221 | 9,800 | May 2028 | 88% |
Insights by Christine
- Gateway renewal is the swing factor: market rent is +9% vs in-place.
Intelligence › Insights
AI Insights This Week - 12 New
- High: Distribution risk - Fund III trending to breach the distribution test by Q3 impact $2.4M
- Medium: Refi window - refinancing Block 37 saves $166k/yr
- Medium: Concession creep - multifamily concessions running 1.7% over market across 3 assets
- Low: Lease rollover - 14% of GLA rolls FY27; Gateway anchor is the biggest exposure leasing.
Intelligence › Analyst
Risk Assessment
- Block 37 is projected to breach DSCR 1.20× by the Aug 1 test (now 1.24×, trending down).
- Brookfield Place is at 75.8% LTV against an 80% covenant, worth watching.
Governance › Audit Log
Audit Log Overview
- Every action recorded with timestamp.
| Time | Action |
|---|---|
| 09:42 | Covenant pack drafted - Block 37 |
| 09:40 | Valuation recompute - Fund III |
| 09:38 | External send blocked - lender email |
| 09:36 | M. Osei approved Q2 valuation pack |
| 09:31 | Source linked - Yardi GL Q2 |
The Problem
Institutional real estate still runs on spreadsheets and email.
- 37% of AM time on consolidation
- 10 days to close the books
Key Issues
- Fragmented data
- Manual reconciliation
- Reactive reporting
The Platform
Features
- Normalized RE knowledge graph spanning documents and cashflows.
- Math on a deterministic engine, every formula runs on a native calculation engine.
Meet Christine - AI Analyst
Overview
- Christine already knows your portfolio. Deploy her to get insights and analytics.
Key Insights from Christine
- Block 37 booked two move-outs; turnover costs push NOI −1.4% vs plan.
- Q2 valuations are ready for your approval.
The Product
One platform. Every surface your team works in.
- Each agent runs the lifecycle of tasks, ensuring nothing leaves without a human approving it.
Awards & Recognition
Recognized across the industry
- Future of Real Estate Award - The Variety Props Awards
- PropTech of the Year - GRI Institute Awards
- Best Use of AI in Property - Property Week Tech Innovation Awards
Next Step
Over to you
- Book a live walkthrough of Built AI's capabilities and features.