Case Study: Urban Renaissance Group abstracts 100 leases in 10 days with Prophia

URG Leverages Prophia to Abstract and Analyze 100 Leases in 10 Days

Urban Renaissance Group, a Seattle-based commercial real estate firm, needed to quickly abstract and analyze about 100 tenant leases during the due diligence for its acquisition of Lloyd Center, a 1.4M square foot retail mall in Portland. With a very short timeline and many stakeholders involved, the team needed accurate, consistent lease data to understand tenant rights, options, and other details that could affect renovations, construction, and underwriting. They used Prophia Pro to help streamline the process.

Prophia uploaded the Lloyd Center documents to the Prophia Cloud and delivered more than 100 electronic lease summaries and notes, all linked back to the source documents for easy verification and sharing. The solution helped Urban Renaissance Group identify 20+ missing documents, centralize lease data for internal teams and external partners, and speed up Argus review and valuation work. In less than 10 business days, Prophia helped URG process 9 buildings, 100 leases, 600 documents, and 5,000 pages, significantly reducing time and cost versus manual or legal-only abstraction.

Urban Renaissance Group

Jeff Vorhies

Director Investments