Who Should Have Leases Abstracted?

Retail, office or industrial leases serve as the foundation supporting the cash flow of any commercial real estate asset. A thorough understanding of these leases is an essential requirement for all parties, including investors/buyers, property management, tenants, and lenders. Lease abstraction is also highly beneficial for the clients of real estate software companies, as well as, for Brokers.

Investors / Buyers

Lease review is critical to the acquisition process for publicly held real estate investment trusts (REITS), and privately held real estate investing companies as well as for individual investors. Abstracts are normally required for due diligence prior to the acquisition of assets and prior to the merger or acquisition of a company that has a portfolio of lease assets. Leases should also be abstracted when a property changes management and/or converts to a new property management software system. In addition, existing lease data can be verified or enhanced with pertinent lease information that was not previously abstracted. (See Sample)

Property Managers

Effective day-to-day management of any property ultimately depends upon a thorough understanding of its lease documentation. Management companies turn to LeaseProbe in order to compile accurate lease summaries to effectively manage their assets. (See Sample)

Tenants

Tenants often compile numerous leases over time and require abstracting services in order to track and audit critical lease data. In addition, large tenants that purchase lease tracking software turn to LeaseProbe for expert assistance in abstracting and entering all pertinent data. We have in-depth experience with all market-leading lease management software. (See Sample)

Lenders

Reviewing tenant leases and analyzing projected future income are essential due diligence tasks for underwriters and investment banks. Some lenders utilize in-house resources to ensure quality underwriting but many have recognized the advantages of outsourcing this work to specialists in order to ensure a comprehensive review of all pertinent legal and financial data. (See Sample)

In addition, lease abstracting services are highly beneficial for:

Real Estate Software Companies

Real estate tracking software is only as useful as the data it contains. When property owners or managers purchase such software, they need to have their leases reviewed and the data imported or reentered into the new software. LeaseProbe works with all market-leading real estate software companies to provide their customers, both landlords and tenants, with turn-key packages that incorporate comprehensive and accurate data from their leases.

Brokers

LeaseProbe assists brokers preparing sales and marketing packages, enabling them to present credible and reliable Offering Memoranda with comprehensive lease abstracts completed by an independent, third-party abstracting company.