Dealpath Adds AI-Powered Services for CRE Investor Clients

Dealpath, a real estate investment and portfolio management software provider, recently announced that it was adding artificial intelligence-powered service for CRE investor clients.

Claiming to empower “hundreds of today’s leading institutions such as Blackstone, Nuveen, Oxford Properties, AEW, LaSalle, UBS, Principal Real Estate, Bridge Investment Group, MetLife, New York Life, Manulife, and hundreds more,” a company press release said that it was adding “an extensive suite of new capabilities that further enhance deal screening, underwriting, due diligence, IC reporting, and portfolio insights.”

Back in March 2020, Dealpath announced a strategic investment from Blackstone, amount undisclosed, and then $43 million in a Series C round a year ago.

Apparently it’s running beta tests and has a waiting list for release access.

There are three general areas where the company is or will provide AI-powered services:

• AI-Powered Search — this aspect, currently live and available, includes full document search, “automatically associates terms and information to instantly bring the most accurate results.” Users can have access to all their deal documents and data fields though a search interface. The point is to increase efficiency with “quick discovery and navigation to the most relevant task.”
• AI-Powered Offering Memorandum Abstraction — in beta testing, the company’s data ingestion feature (DDI), originally launched in 2020, has added AI to “extract key data fields from Deal Flyers and Offering Memorandums to create new deals and jump start underwriting and comp analysis with high accuracy and measured in minutes rather than hours or days.” The company claims that clients in the beta program are increasing the number of evaluated deals by more than 20%. Increased evaluations means more chances to find potentially viable deals. They build a database of comps and save “thousands of hours of manual input to allow professionals to focus on real value add work,” although the company didn’t say what time range or scale of operations those savings were over.
• AI-Powered Investment Summary & Memo Generation — listed as “coming soon,” the feature “leverages generative AI to interpret the contents of Deal Flyers and Offering Memorandums to instantly generate a clear, concise and beautifully formatted one page summary highlighting the merits of a deal and the risks to mitigate.” It allows rapid identification of opportunities that match investment strategies.

“A fundamental challenge to solve in real estate investment management is the current lack of standardized data and related workflows,” said Mike Sroka, CEO and co-founder of Dealpath, in prepared remarks. “To date, real estate has been a document-heavy business and industry. Enormous value has been trapped in these documents, which can be unlocked by enabling the information within to be more easily reusable and transferable while maintaining the required controls and security.”