Transaction Lifecycle
IC Process
The document that turns underwriting and diligence into a decision: how to structure it, where every number comes from, and what a committee sends back.
Underwriting builds the case; due diligence tests it. This cluster covers the document that turns both into a vote: the investment committee memo. The guide below is the full anatomy: the eleven sections in the order a committee actually reads them, the map from each claim to the model output or diligence document behind it, and a complete worked example with numbers that tie end to end.
Most of the evidence a committee asks for comes out of diligence, so read it alongside the due diligence cluster: the rent roll, the normalized T-12, and the third-party reports are where a memo's numbers have to tie back to.
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How to Write a Real Estate Investment Committee Memo: Structure, Worked Example, and What Committees Send Back
The section-by-section anatomy of a real estate IC memo, a memo-to-model source map, a fully worked value-add multifamily example, and the evidence gaps that get a memo sent back.
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