PropRise

PropRise is an AI platform for institutional commercial real estate teams that source and underwrite deals. It consists of two products, Primer and Beacon, and is backed by Y Combinator, General Catalyst and MetaProp. Primer turns deal documents into underwriting. A user uploads an offering memorandum, rent roll or trailing twelve month statement, and Primer reads every page in any format, reconciles conflicting figures between sources and populates the customer's own Excel model. Every cell is cited back to the document, page and table it came from, and conflicts between sources are flagged for review. The customer's chart of accounts is mapped once and applied to every deal, and the vendor states that kickoff to first extraction takes two business days. Beacon is for finding opportunities, with a focus on self storage. It analyzes 450,000 trade areas across the United States at one, three and five mile radii, and users define a buy box, such as a minimum rate, a limit on square feet per capita or a population growth threshold. Beacon then surfaces matching hotspots, and saved searches can send email and in app alerts. The product is built for acquisition teams at institutional investors who need a traceable audit trail behind their numbers. The vendor does not publish pricing, so access is arranged by contacting the company.