AI that underwrites the waterfall,
not just the NOI
10 Knowledge Workers engineered for institutional commercial real estate — from USPAP-compliant valuations to CMBS structuring and lease abstraction by property type. They understand cap rates, promote structures, and co-tenancy clauses because that's what they were built to analyze.
What These Agents
Actually Do
Lease Review & Abstraction
Institutional-grade lease abstraction at 99%+ accuracy, adapted for office, retail, and industrial property types. Output includes WALT/WALE calculations, rent roll reconstruction, concession tracking, and critical date calendars.
CRE Underwriting & Financial Analysis
Multi-year pro forma modeling with revenue, expense, and CapEx scheduling. Waterfall distribution modeling with promote/catch-up/clawback structures and GP/LP allocation. Debt sizing via LTV, DSCR, and debt yield constraints.
CRE Valuation — Three-Approach USPAP Compliant
Three-approach USPAP valuation: income (direct cap and DCF), sales comparison with adjustment grids, and cost approach. Specialized support for portfolio premiums, going concern valuations, partial interest discounts, and fund mark-to-market.
Capital Markets & Debt Advisory
CMBS, agency lending, mezzanine, and preferred equity structuring with intercreditor analysis. Balance sheet lending comparison across banks, life companies, and debt funds. Rate lock, defeasance, and prepayment modeling.
Investment Memoranda & IC Preparation
Institutional-grade IC memoranda for PE funds, REITs, pension funds, and family offices. Investment thesis with market analysis, asset-level underwriting, and return projections. Exit strategy analysis with hold period scenarios.
How the CRE Agents
Are Built Differently
Property-Type Aware
Retrieval
The CRE RAG profile runs at 0.78 similarity threshold with 680-token chunks and 1.38× domain boost — tighter than general business retrieval because commercial real estate documents are dense with defined terms. The system understands that “NNN” means triple-net lease, that “TI” means tenant improvement, and that “LOI” means letter of intent. Source preferences weight appraisals, offering memoranda, rent rolls, and loan documents above general business content.
CRE Taxonomies
as Classification Systems
Classification via NCREIF, NAREIT, NAICS-531, and BOMA measurement standards. Asset classes include Office (A/B/C), Retail (anchored/unanchored/NNN/power center), Industrial (bulk warehouse/last-mile/flex/cold storage), Multifamily (garden/mid-rise/high-rise), Hospitality (full-service/limited-service/extended-stay), and specialty (data center/life science/self-storage). Lease type classification covers NNN, Modified Gross, Full-Service Gross, Percentage, Ground, and Sale-Leaseback.
Guardrails Built
for Institutional CRE
Deal confidentiality is absolute — no cross-deal information leakage. The agents will never use the phrase “guaranteed return” or any language that could constitute an investment recommendation. USPAP compliance enforced for all valuation outputs. Environmental assessments reference Phase I ESA/CERCLA requirements without rendering environmental opinions. Audit retention is 10 years — matching institutional fund lifecycle requirements. All projections include explicit assumption documentation.
Your CRE Team
10 Specialized Knowledge Workers
Cy Lease Review & Abstraction Agent
Property-type adapted lease abstraction and rent roll analysis. 99%+ accuracy · Office/Retail/Industrial adaptation · WALT/WALE calculations · Estoppel review · Critical date calendars.
AI Knowledge Worker
Cy CRE Asset Intelligence & Ops Agent
Asset performance tracking and portfolio analytics. Asset-level NOI tracking · Occupancy trending · CapEx monitoring · Hold/sell analysis · Tenant roll schedules.
AI Knowledge Worker
Cy CRE Underwriting & Docs Agent
Pro forma modeling, waterfall analysis, and debt sizing. Multi-year pro forma ($100 tolerance) · Promote/catch-up/clawback · LTV/DSCR/debt yield sizing · GP/LP allocation.
AI Knowledge Worker
Cy CRE Capital Markets & Research Agent
Debt and equity capital advisory and market analysis. CMBS/Agency/mezzanine structuring · Term sheet analysis · Rate lock modeling · Defeasance/yield maintenance calculations.
AI Knowledge Worker
Cy Tenant Research & Case Agent
Tenant credit analysis and leasing intelligence. Tenant credit scoring · Lease comp analysis · Concession benchmarking · TI allowance structuring.
AI Knowledge Worker
Cy CRE Valuation & Reporting Agent
Three-approach USPAP-compliant valuations. Income/Sales Comparison/Cost approaches · DCF · Portfolio premium/discount · Going concern · Mark-to-market · NAV calculations.
AI Knowledge Worker
Cy Investment Memo & Deal Ops Agent
IC memoranda and deal pipeline management. IC memo drafting (PE/REIT/pension/SWF/family office) · Deal screening · Exit strategy analysis · Comp transaction analysis.
AI Knowledge Worker
Cy Portfolio Management & Analytics Agent
Fund-level analytics and reporting. NAV calculation · Attribution analysis · Vintage year comparison · Investor reporting · Geographic diversification analysis.
AI Knowledge Worker
Cy Property Acquisition & Pipeline Agent
Acquisition sourcing and pipeline management. Deal sourcing · Screening criteria (asset class/geography/size/cap rate) · Pipeline tracking · LOI preparation.
AI Knowledge Worker
Cy Zoning Research & Compliance Agent
Zoning analysis, entitlement research, and regulatory compliance. Zoning verification · Use restriction analysis · Entitlement timeline · FIRREA compliance.
AI Knowledge Worker
Specialized for Commercial Real Estate
Your CRE specialists abstract leases, analyze assets, and monitor markets. Deep expertise in commercial real estate workflows, available whenever you need it.
CRE intelligence
built for institutional rigor
From waterfall modeling to USPAP-compliant valuations, Cyrenza's CRE agents analyze deals the way your acquisitions team does — with the pro formas, sensitivity tables, and IC memoranda that institutional investors expect.
Abstracting key lease terms and dates
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