Case Study: Urban Renaissance Group accelerates lease due diligence with Prophia

Urban Renaissance Group completes due diligence on 100 leases in under 10 days with Prophia

Urban Renaissance Group (URG), a Seattle-based commercial real estate firm, faced a significant challenge during the due diligence process for acquiring the Lloyd Center mall. With a very short window to evaluate the property, URG's investment team needed to quickly abstract and understand approximately 100 complex tenant leases. Their manual process of dividing the work and using Excel templates was too slow, inefficient, and prone to inconsistencies, risking their ability to properly underwrite the acquisition.

URG implemented Prophia's lease abstraction and data management platform to solve this challenge. In less than 10 business days, Prophia processed over 600 documents and delivered comprehensive electronic lease summaries for the entire portfolio. This provided URG's various teams with immediate, centralized access to verified data, which was critical for their analysis. The solution from Prophia not only enabled URG to successfully complete due diligence and acquire the property on time but also identified over 20 missing critical documents, saving significant time and cost while ensuring accuracy.

Urban Renaissance Group