Underwriting
From deal documents to populated pro forma in minutes. Upload an OM, rent roll, and T-12 — get back your Excel model with every cell cited to source.
Your analyst spends two days building a pro forma from scratch. They re-key numbers from the OM, guess at expense growth, and format the model to match last quarter's template. Half the time is spreadsheet mechanics, not judgment.
Upload the OM, rent roll, and T-12 into a Deal workspace. Apers reads every page — scanned or native — extracts the key terms, and populates your Excel model cell by cell. You watch it build in real time, approve each step, and open the finished pro forma in Google Sheets. Two days becomes twenty minutes.
Four Steps to a Finished Model
Upload deal documents
Drag the OM, rent roll, and T-12 into the Data Room. Apers processes every page — scanned PDFs, native spreadsheets, even photos of documents — using OCR and structural parsing.
Apers builds your model
Watch cells populate in real time. Revenue assumptions, expense line items, return metrics — each value traced to the source document. Dynamic formulas adapt when inputs change.
Review and approve
Before each change, Apers shows its thinking — what it plans to write and why. Approve, reject with feedback, or switch to Fast Mode for full autonomy.
Open in Google Sheets
The finished model saves automatically to Google Sheets with full version history. Download as .xlsx, save to your Library for future deals, or share with your team.
Every Source, Every Format
Scanned OMs, native-PDF rent rolls, Excel T-12s, even photos of broker packages. The ingestion engine reads them all — OCR, structural parsing, and semantic extraction — so your model builds from real data, not re-keyed approximations.
Approve Every Step
Apers shows its plan before writing a single cell — which assumptions it will use, which sources they come from, and what formulas it will write. Approve one change at a time or switch to Fast Mode when you trust the approach.
Audit-Ready, Format-Native
IRR, equity multiple, cash-on-cash — with sensitivity tables and scenario analysis built in. Every cell traceable to source. Models live in Google Sheets with full version history, downloadable as .xlsx.
Screen Against Your Thesis
Attach a Playbook — your investment criteria codified as must-pass rules and return targets — and every model Apers builds is evaluated against your strategy. Core Plus, Value-Add, Opportunistic — compare the same deal under different lenses.
Parallel Analysis Threads
Run market research, financial modeling, and error-checking in separate sub-chats — each with full access to the Data Room but isolated from each other. Export findings between threads to build a complete picture without cross-contamination.
Models
Frequently Asked Questions
How does Apers underwrite a deal?
Upload the OM, rent roll, and T-12 into a Deal workspace. The UDPE engine reads every page — scanned or native — extracts the key terms, and the XL-2 engine populates your Excel model cell by cell. You watch it build in real time, approve each step, and open the finished pro forma in Google Sheets.
What documents do I need for underwriting in Apers?
At minimum, an offering memorandum, rent roll, and trailing 12-month operating statement. You can also upload appraisals, environmental reports, lease abstracts, and any other due diligence documents. The UDPE engine reads scanned PDFs, native spreadsheets, and even photos of documents.
Is the underwriting output auditable?
Yes. Every cell in the pro forma is traced to its source document in the Data Room. You can follow the citation trail from any assumption back to the original page and line item. Models live in Google Sheets with full version history.
How long does underwriting take in Apers?
A pro forma that takes an analyst two days to build manually can be completed in about twenty minutes. The time savings come from eliminating data entry — Apers reads the documents directly instead of requiring someone to re-key numbers.
Can I screen deals against my investment criteria?
Yes. Attach a Playbook — your investment criteria codified as must-pass rules and return targets — and every model Apers builds is evaluated against your strategy. You can compare the same deal under Core Plus, Value-Add, or Opportunistic lenses.