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1,000+ specialised AI agents · Do the work

Hand over a deal. Get back the underwriting.

  • 125_Old_Broad_Street_OM.pdf
  • Rent_roll_Q3.xlsx
  • Leases.pdf

Underwrite this office for the investment committee.

214 of 1,000+ agents

Verified
  • Source 58
  • Underwrite 91
  • Diligence 65

It’s an office, so 214 agents ran on it, with the Company Brain and the Financial Model Engine. Here is what 5 of them found:

Office · 214 agents
AgentReadFinding
Lease AbstractionLeases · Rent rollsWAULT 6.3 years
Tenant/CovenantRent rolls · Alternative dataTop 5 tenants, 61% of NOI
Rent CompComps · Transactions17 comparables
Cap RateTransactions · Comps5.4% entry yield
Re-letting RiskMacro · Leases37% of income expires in 5 years

1,000+ specialist agents for every real estate decision.

Purpose-built agents across asset classes, markets and underwriting workflows are dynamically assembled for each opportunity.

  • Source 58
  • Underwrite 91
  • Diligence 65
London Office Acquisition214 of 1,000+

125 Old Broad Street, London · Office · 329,200 sq ft · £385m acquisition

  1. Company BrainKnows your firm
  2. UK Office IntelligenceKnows offices
  3. UK Market IntelligenceKnows the UK
  4. Lease Abstraction AgentWAULT 6.3 years
  5. Tenant/Covenant AgentTop 5 tenants, 61% of NOI
  6. Rent Comp Agent17 comparables
  7. Cap Rate AgentEntry 5.4%, stabilised 6.2%
  8. Re-letting Risk Agent37% of income expires in 5 years
  9. Building Quality AgentReads surveys, EPC
  10. Debt AgentReads term sheets, rate curves
  11. Tax AgentReads SDLT, VAT position
  12. ESG AgentReads EPC, MEES
  13. Planning AgentReads the planning register
  14. Financial Model Enginecash flowsdebt scheduleswaterfallsreturns
  15. IC Memo AgentIC memo
IC memothe firm’s formatBase IRR14.8%Multiple1.9xProceed to IC

On the London Office Acquisition, the orchestrator reads a bench of 1,000+ specialist agents and assembles a team of 214 agents with the Company Brain and the Financial Model Engine. Shown here: the Company Brain; UK Office Intelligence, Knows offices; UK Market Intelligence, Knows the UK; Lease Abstraction Agent, WAULT 6.3 years; Tenant/Covenant Agent, Top 5 tenants, 61% of NOI; Rent Comp Agent, 17 comparables; Cap Rate Agent, Entry 5.4%, stabilised 6.2%; Re-letting Risk Agent, 37% of income expires in 5 years; Building Quality Agent, Reads surveys, EPC; Debt Agent, Reads term sheets, rate curves; Tax Agent, Reads SDLT, VAT position; ESG Agent, Reads EPC, MEES; Planning Agent, Reads the planning register; the Financial Model Engine, which computes cash flows, debt schedules, waterfalls, returns; and the IC Memo Agent, IC memo. The IC memo shows a base IRR of 14.8% and a 1.9x multiple: proceed to IC.

The agent library

Agents for every kind of real estate.

No single agent covers an asset class. The asset class decides which specialist agents run. Pick one and see its set.

Land and development

Natural capital / specialist land

Office

01 · 10 agents

  • Lease & Rent Roll Agentabstracts leases, breaks, expiries, incentives, indexation and contractual rent.
  • Tenant Credit Agentanalyses covenant quality, concentration, guarantors and tenant financial health.
  • Occupancy & Leasing Agentphysical/economic occupancy, downtime, expiries and rollover exposure.
  • Market Rent AgentERV, achieved rents, incentives and competing stock.
  • Supply & Demand Agentpipeline, absorption, vacancy and submarket dynamics.
  • Building Quality Agentgrade, floorplates, amenities, age, specification and competitive positioning.
  • CapEx Agentrefurbishment, tenant improvements, leasing commissions and lifecycle CapEx.
  • ESG & Obsolescence AgentEPC/energy standards, stranding risk and retrofit requirements.
  • Valuation & Comps Agentinvestment transactions, yields, £/sq ft and comparable adjustments.
  • Office Underwriting Agentintegrates leasing, CapEx and exit assumptions into office-specific scenarios.

What an agent is

One job, one set of sources, one thing handed back.

Not a chatbot with a prompt. An agent is scoped to one part of a deal, reads the sources that part depends on, and returns a result the next agent can use.

One agent

Lease & Rent Roll Agent

abstracts leases, breaks, expiries, incentives, indexation and contractual rent.

Reads

  • Leases
  • Rent rolls
  • OMs
Rent roll, abstractedIllustrative
Level 04, westBreak24 Mar 2028Lease cl. 14.2
Level 07IndexationRPI, collar 1%Lease cl. 8.1
Ground, retailContractual rent£412,500 paRent roll, row 11

Every figure carries the clause it came from. That is what the next agent reads.

Ten of these make an Office.

The named agents

Eleven task agents, one part of the deal each.

Each investigates one part of an investment

In parallel, on the same deal, from the same sources.

These eleven worked the London Office Acquisition. On the next deal, the asset and the market decide which of the 1,000+ are assembled.

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  • Lease Abstraction
  • Tenant/Covenant
  • Rent Comp
  • Cap Rate
  • Re-letting Risk
  • Building Quality
  • Debt
  • Tax
  • ESG
  • Planning
  • IC Memo

The agents read every market through Market Intelligence.

Country-specific regulation, taxation, planning, transaction processes, financing, registries, macro data and local market conventions.

Market Intelligence →

Orthoimagery 2024 © City of New York (NYC OTI), CC BY 4.0 · Building footprints and street centrelines: NYC Open Data

One model per micro-location, not one per city.

Prices move block by block, so the model is built at that level and the specialist agents run on top of it.

New York / WilliamsburgOne model per micro-locationModels in view40Models in this marketup to 10,000, one per micro-location

What comes back

Each agent hands back one finding. The memo is built from them.

An investment recommendation, underwriting and scenarios, the maximum supportable price, risks and exceptions, a client Excel model and the IC materials.

IC memo · 125 Old Broad StreetIllustrative

Smart Bricks Investment Score

87 / 100

Evidence confidence: 95%

  1. Entry yield of 5.4%, stabilising to 6.2%.Cap Rate
  2. A 14.8% five-year levered IRR and a 1.9x equity multiple.Financial Model Engine
  3. WAULT of 6.3 years, with 37% of income expiring within five years.Lease Abstraction
  4. The top 5 tenants carry 61% of NOI.Tenant/Covenant
  5. The downside case (ERV -10%, exit yield +75bps) holds a 7.1% IRR.Re-letting Risk
  6. 17 comparables selected.Rent Comp
The IC pack6 outputs

In the memo

  • Investment recommendation
  • Underwriting and scenarios
  • Maximum supportable price
  • Risks and exceptions

Files

  • Client Excel model
  • IC materials

Material judgement

Humans review, challenge and approve material judgement.

  • Review
  • Challenge
  • Approve

Follow one number back to its source.

The sources it read, the engine that did the arithmetic, the review it passed.

Underwrite →The Trust Centre →
Where it came from125 Old Broad Street

Finding · Lease Abstraction

WAULT of 6.3 years, with 37% of income expiring within five years.

Read from
Leases · Rent rolls
Formulas
Unexpired lease terms, weighted by rent. Income expiring within five years, over contracted income.
Arithmetic
A coded engine, not the language model
Re-run
Identical inputs, identical number
Status
Verified

In numbers

The agents, counted.

Smart Bricks isn’t one chatbot doing everything.

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