EDR continues to expand the scope of property information available to lenders on its Collateral360® platform with the addition of CompStak lease comps. CompStak’s data supports decision making throughout the real estate investment lifecycle, from improving underwriting accuracy during origination to loan disposition. It helps in determining asset value and enhances the valuation process with detailed lease information to support income analysis including starting rents, lease terms, tenant improvements, and rent escalations. Lenders can make key income assumptions based on real market value using CompStak.
“The addition of CompStak’s property data and analytics to our Collateral360 platform represents another step towards our vision of providing a single platform that simplifies the process of underwriting and managing real estate assets,” said Chris Aronson, CEO of EDR. “The collection and analysis of property information is a vital but time consuming and resource dependent process” added Dean Graves, President and COO of EDR. “Our Collateral360 users will enjoy efficient and immediate access to Compstak’s highly regarded and relevant data—enabling them to spend their valuable time on analysis vs. data gathering. Since their launch, the quality of CompStak’s data and analytics have been widely praised by the CRE lending market and we are very excited to partner with them,” said Graves.
“Many of the world’s largest lenders already use CompStak to underwrite commercial real estate assets,” said Michael Mandel, co-founder and CEO of CompStak. “Our partnership with EDR allows us to broaden our reach to nearly 1,000 new lenders across the country. The integration of our platforms will create efficiency in appraisal, appraisal review and asset management, while ensuring that the best data is used in the underwriting process. We couldn’t be happier to work with EDR to power the property due diligence industry.”
CompStak data will be available on the Collateral360 platform in the first quarter of 2018