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Commercial Real Estate Finance
App Development
Real estate finance platform tailored to the needs of sponsors and lenders
Location: Great Britain
Project
Cloud-based web application that automates the financing origination process for European commercial real estate assets, matching sponsors and debt advisors with lenders, and providing them with visibility at all stages of their processes.
Commercial real estate finance platform
A software solution that matches sponsors with lenders according to their lending criteria and provides an easy way to make deals, search deals, make transactions, view past deals built in less than a year.
Comercial Real Estate Finance Platform
A software solution that matches sponsors with lenders according to their lending criteria and provides an easy way to make deals, search deals, make transactions, view past deals built in less than a year.
Tools and technologies
CHALLENGE
Limited visibility for sponsors and lenders on the commercial real estate financing market
The client is an experienced real estate professional who decided to address the challenges experienced in the commercial real estate sector. New legislations passed over the recent years constrained the banks and many new alternative lenders started to fill the gap created in the market. Many specialist debt advisors started to help navigate this private and opaque market.
Our client has many years of experience in this market and saw an opportunity to introduce a commercial real estate platform that would match the properties and financing requests of the investors with lenders and help them transact faster. The client knew exactly how the solution should function and came to Euristiq for a full-fledged solution with a general idea.
SOLUTION
Commercial real estate app tailored to the needs of sponsors, debt advisors, and lenders
The system should bring 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 main idea of a solution was to develop an origination platform that would match real estate sponsors with debt advisors and lenders, and simplify the process of finding deals and conducting transactions.
To kick things off, together with the client we discussed the functionalities and created wireframes. The client had an idea and an understanding of the solutions’ business logic, and the Euristiq team created an architecture. With an end-to-end model of cooperation, all parts of the development process were done by Euristiq: back-end, front-end, and QA.
The main technical challenge of this solution was to develop a deal searching functionality and to implement a matching algorithm. The system has a very complex logic and the client wanted to make sure that all the possible interaction cases within the system were covered.
The online real estate finance platform has three user roles: investors, debt advisors, and lenders. It allows one user to sign in under different roles. The platform provides an easy way for lenders, investors, and debt advisors to create “companies” and invite other users to join. Investors 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 that correspond to a deal are suggested to the investors and can receive a standardized pack of information to kick-start the financing process.
Other functionalities include tracking the status of a deal, negotiating and providing indicative terms, and searching previous deals on the platform.
RESULTS
End-to-end software solution with no analogs on the European market
Euristiq team delivered an online real-estate cloud platform developed from scratch in less than a year. The system has a complex functionality that automates commercial real estate finance processes and provides visibility to investors and lenders.
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 standardised information. The platform streamlines the commercial real estate financing process across Europe for all the parties involved.