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Case Study

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    Location
    Europe
    Service line
    Software engineering
    Expertise
    Digital platform

    Overview

    The state of the real estate market in the UK has witnessed significant shifts in recent years. Factors such as the economic impact of Brexit, changes in remote working trends due to the COVID-19 pandemic, and evolving consumer preferences have all played a role in reshaping the landscape.

    The commercial real estate financing market is private, resulting in limited visibility for sponsors and lenders. With recent EU legislation constraining banks, numerous new alternative lenders have started filling the gap. Recognizing this shift and deciding to address the evolving needs of the UK market, our client embarked on an end-to-end app development journey to create an origination commercial real estate application for European assets. This application is designed to match sponsors and debt advisors with lenders, granting them much-needed visibility.

    • End-to-end development of an online real estate platform tailored to the needs of sponsors and lenders
    • A software solution matches sponsors with lenders according to their lending criteria and provides an easy way to make deals, search deals, make transactions, view past deals
    • Automation of commercial real estate financial processes
    • The real estate finance platform built in less than a year has no analogs in the European market
    fundre commercial real estate applications by euristiq

    Solutions

    The client had an idea of an app and turned to Euristiq for software development. To begin the process, we engaged in digital consulting sessions with the client to discuss functionalities and create wireframes. The client had a clear idea and understanding of the solution’s business logic, and the Euristiq team was responsible for creating the architecture.

    Commercial real estate platform for three user roles

    The Euristiq team built a financing origination platform with complex business logic that matches real estate sponsors with debt advisors and lenders and simplifies finding deals and conducting transactions. Cloud-based web application automates the financing origination process for European commercial real estate assets.

    The online real estate platform has three user roles: sponsors (investors), debt advisors, and lenders. Sponsors and debt advisors create deals by adding real estate property descriptions, locations, photos, notes, and agreements. Lenders add their lending criteria and this is when the matching algorithm comes in. Lenders get notifications of deals that correspond to their criteria and can start a legal process of making a transaction. Other functionalities include tracking the status of a deal, negotiating and providing indicative terms, and searching previous deals on the platform.

    End-to-end development of complex functionality

    The main technical challenge was to develop a deal-searching functionality and implement a matching algorithm. The Euristiq team developed the systems’ architecture, back-end, front-end, and QA.

    Automation of commercial real estate financial processes

    The system brings a significant level of automation to the client’s business flow, as previously everything was being done using spreadsheets and Excel and these documents and files were stored in different places. The app features different flows, such as creating a deal, matching a lender and inviting to a deal, working as a lender with deal, and closing a deal as a sponsor. We managed to simplify the process of finding deals and conducting transactions, matching sponsors and debt advisors with lenders, and providing them with visibility at all stages of their processes.

    commercial real estate app for Fundre by Euristiq

    Results

    The Euristiq team delivered a fully operating commercial real estate app developed from scratch in less than a year. The platform has a complex functionality that helps sponsors reach wider lending audience.

    The online web application matches investors with lenders according to their lending criteria and provides an easy way to create new transactions, search past deals, and access standardized information. The platform streamlines the commercial real estate financing process across Europe for all the parties involved.

    Project scope

    Services:

    1. End-to-end development
    2. A decision on the technical stack
    3. Architecture engineering
    4. Front-end/back-end development
    5. QA
    6. Participation in product management
    7. Technical consulting
    8. Requirements elaboration

    Technologies:

    • Node.js
    • NestJS
    • PostgreSQL
    • DDD
    • CQRS
    • HTML/CSS/JavaScript
    • Angular
    • NgRx
    • Bulma
    • Jest
    • Google Maps
    • AWS

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