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.