Case Study: CBRE improves lease data management and accuracy with Prophia

Nuveen and CBRE partner with Prophia on Millennium Tower

CBRE, managing Nuveen Real Estate’s Millennium Tower in Seattle, faced the challenge of keeping track of complex lease and operational information across a mixed-use property with residential, commercial, and HOA components. Before Prophia, staff spent too much time manually searching documents with “CTRL+F” to verify rent changes, encumbrances, and other lease details.

Prophia provided a cloud-based data management platform that extracted lease data from source documents and made it searchable, organized, and easy to access. With Prophia, CBRE could quickly verify encumbrance schedules, track rent bumps, and review lease details on demand, improving accuracy, saving time and money, and helping increase productivity across the asset.

CBRE

Calvin Bright

Associate Real Estate Manager