In production since 2023 $12.8T AUM category

The AI-native operating system for institutional real estate.

Retire the spreadsheet-and-email stack. Built AI unifies your systems into one knowledge graph and turns it into the work your team ships, every number cited, every action approved by a human.

Book a live walkthrough See how it works
app.builtai.co/portfolio
Interactive demo · click around
Explore Portfolio Models Assets Leases Insights Analyst Audit log
Workspace Portfolio Control Center
Global Portfolio
Live · reconciled 2m ago
AUM
$24.0B
▲ 1.2%
Net equity
$9.6B
▲ 0.4%
Occupancy
88.1%
▼ 0.3
NOI ttm
$1.42B
▲ 1.8%
Leverage
60.0%
LTV · flat
Close in
11d
on track
NOI vs plan$M · quarterly
Q3 FY24Q2 FY26 · −2.1% (Block 37)
Allocationby GAV
Office 34% Multifamily 27% Industrial 22% Retail 11% Other 6%
Debt maturities$M
FY26FY27FY28 $610MFY29FY30
Today's priorities7
HIGHBlock 37 · cure plan for DSCR test
MEDApprove Q2 valuations · Fund III
MEDOne Beacon anchor LOI terms
LOWInvestor letter draft · Fund IV
MEDRenewal strategy · Gateway anchor rolls FY27
Watchlist5
Block 37DSCR 1.24×
Brookfield Pl.LTV 75.8%
One BeaconLeasing LOI signed
RiversideNOI vs plan +2.4%
Gateway LogisticsOcc 96.4%
AI insights12 new
Distribution risk · Fund III trending to breach by Q3
Refi window · spreads tightened 18 bps
Concession creep · multifamily 1.7% over market
Lease rollover · 14% of GLA rolls FY27
Yardi 2m · Argus 5m · MRI 8m© 2026 Built AI, Inc. · v2.14
Operating Block 37 Levered cashflow
Levered cashflow
Deterministic engine
Line ($000s)
FY25
FY26
FY27
FY28
Gross potential rent
13,640
14,210
14,690
15,180
Vacancy & credit loss
(1,160)
(1,240)
(1,180)
(1,210)
Operating expenses
(4,990)
(5,210)
(5,320)
(5,460)
Net operating income
7,490
7,760
8,190
8,510
Debt service
(6,250)
(6,250)
(6,250)
(6,250)
Levered cash flow
1,240
1,510
1,940
2,260
Every cell cites its lease, GL line or Argus assumption
IRR sensitivitylevered · 10-yr hold
exit cap5.25%5.50%5.75% rent +2.5%20.318.717.2 rent +3.0%21.219.618.0 rent +3.5%22.020.418.8
Debt profilesenior
Principal$92.0M
RateSOFR+285 hedged 3.80%
MaturityNov 2027 · IO FY26
DSCR test1.20× · next Aug 1
Argus · Yardi GL · Lease scheduleBuilt AI · model
Operating Block 37 Variance & covenants
Covenant monitor
Live · reconciled 1m ago
NOI vs plan
−2.1%
▼ $164k
Occupancy
91.2%
▼ 0.8
DSCR
1.24×
→ 1.18× Aug 1
LTV
59.5%
vs 80% covenant
DSCR · trailing 8 quarters actual forecast covenant 1.20×
1.40 1.30 1.20
breach zone
now 1.24× 1.18×
Q3'24Q1'25Q3'25Q1'26Aug 1 F
Covenant package · senior loannext test Aug 1 · 30 days
TestThresholdNowAug 1 FStatus
DSCR≥ 1.20× · qtrly1.24×1.18×Forecast breach
LTV≤ 80.0%59.5%60.1%Pass
Debt yield≥ 8.0%8.3%8.1%Watch
Cure plan · drafted by Christine3 options
APartial paydown $3.2M → 1.21× preferred
BTrap Q3 excess cash → 1.20× at test
CWaiver request · heads-up drafted
Approve heads-up Open workings
Variance driversexplained
Turnover cost −$86k · 2 move-outs
Concessions −$47k · 1.7% over market
Tax reassessment −$31k · appeal filed
Total vs plan−$164k
Yardi · Argus · Loan docsBuilt AI · variance
Operating Lease roll
Lease roll · next 24 months
41,800 sq ft in next 12 months
TenantSuiteSq ftExpiryRenewal odds
Gateway · anchorA-10028,400Mar 202768% WATCH
Block 3712046,900Nov 202682%
Block 3713106,500Nov 202674%
One Beacon90012,200Jun 202891%
Meridian22109,800May 202888%
Christine: Gateway renewal is the swing factor: market rent is +9% vs in-place. I drafted two renewal scenarios in the model.
Lease abstracts · CoStar compsBuilt AI · leases
Intelligence Insights
AI insights
12 new this week
HIGH
Distribution risk · Fund III trending to breach the distribution test by Q3 impact $2.4M
Draft cure plan →
MED
Refi window · spreads tightened 18 bps; refinancing Block 37 saves $166k/yr SOFR curve · loan §2
Run refi scenario →
MED
Concession creep · multifamily concessions running 1.7% over market across 3 assets CoStar comps
See comps →
LOW
Lease rollover · 14% of GLA rolls FY27; Gateway anchor is the biggest single exposure lease abstracts
Open lease roll →
Watching 48 properties · 132 leases · 9 loansBuilt AI · insights
Intelligence Analyst
Analyst
Every figure cited
Which assets are at risk of tripping a covenant this quarter?
Built AI

Two. Block 37, DSCR 1.24× trending to 1.18× against the 1.20× test on Aug 1. breach: HIGH

Brookfield Place, LTV 75.8% against an 80% covenant, worth watching.

Argus · §4 Loan · §6.2 Yardi · L118
Draft lender heads-up Run sensitivity
Argus · Loan docs · YardiBuilt AI · analyst
Governance Audit log
Audit log
Every action recorded
0
autonomous external actions. Every send, write or filing waits for a named human.
All Agent runs Approvals Blocked Lineage
09:42ACovenant pack drafted · Block 37 Loan §6.2 · 5 sourcesWaiting approval
09:40AValuation recompute · Fund III engine · 2,148 cellsComplete
09:38AExternal send blocked · lender email awaiting humanBlocked
09:36HJ. Chen approved · Q2 valuation pack 14 documentsApproved
09:31ASource linked · Yardi GL Q2 142 lines mappedComplete
09:27AAtlas run · screened 32 OMs core-plus · DSCR > 1.3Complete
09:19HM. Osei edited assumption · exit cap 5.25% → 5.50% recomputed 312 cellsLogged
09:12AInvestor letter drafted · Fund III template 42 figures citedWaiting approval
09:05APermissions sync · SSO group mapping 3 changesComplete
Today · 47 events · 0 autonomous external sendsBuilt AI · governance
Category
AI infrastructure · Real estate
Sector
Owner-operators & allocators
Deployment
Multi- or single-tenant · BYO model · self-host
Governance
100% cited · 0 autonomous sends

Multi- or single-tenant·No model training on your data·SOC 2 Type II (in progress)·GDPR-aligned

Trusted by leading real estate firms
CBRE Knight Frank Carter Jonas Allsop Dorrington Howard Hughes LondonMetric Nan Fung
$148B+
Cumulative client AUM
$100B+
Property value analyzed
40+
Leading firms
2,000+
Assets live on the platform
The thesis

Institutional real estate is re-platforming. We are the platform.

Paper to Excel, Excel to the ERP, and now the ERP to an AI-native operating system. The third shift is starting now. Read the full thesis →

The problem

Institutional real estate still runs on spreadsheets and email.

The drag hides inside your team's week. Remove it and you get back basis points of IRR, days of close time, and investor trust, every quarter.

37%
of AM time on consolidation
10
days to close the books
01 · Fragmented data

Deal, PMS, GL, lease, and LP data live in silos that rarely talk.

Reconciling them by hand is why a simple portfolio question still takes a few days.

02 · Manual reconciliation

Analysts spend as much time consolidating data as interpreting it.

The category pays six-figure salaries to copy-paste between workbooks instead of exercising judgment.

03 · Reactive reporting

Close and investor reporting run as quarterly sprints, not continuous capability.

The business moves weekly while reporting moves quarterly, and that gap is invisible risk.

The platform

Every source. One graph. Every output, on demand.

A normalized real estate knowledge graph spanning entities, documents, and cashflows, computed on a deterministic engine. See exactly how it works →

Argus
Yardi · MRI
Excel · PDFs
Leases · OMs
RE knowledge graph
IC memo
Investor letter
Covenant view
Valuation pack
Connect → normalize → reason → author. Every output cites every input, cell by cell.
Sits on your stack

Plug-in, not rip-and-replace.

We orchestrate Argus, read Yardi, MRI, and Entrata, and unify your Excel models, read-only by default with writes on approval.

Deterministic engine

Math you can audit.

Every formula runs on a native calculation engine, not LLM arithmetic, and every number traces to source. That is what makes it usable for regulated capital.

Human in the loop

Drafts, then waits.

Agents do the work on the graph and pause for approval before anything leaves your tenant. Zero autonomous external actions.

The embedded analyst

An AI teammate that already knows your portfolio.

It lives inside your data room, deal room, and books, cites every source, computes every number on the deterministic engine, and drafts the artifacts in your templates. Nothing auto-sends.

Explore the platform
Built AIBuilt AI · Analyst
Tenant: Portfolio
Any assets at risk of tripping a covenant in the next 90 days?
Built AI

Yes. Two.

Block 37 is projected to breach DSCR 1.20× by the Aug 1 test (now 1.24×, trending down). breach: HIGH

Brookfield Place is at 75.8% LTV against an 80% covenant, worth watching.

Lender heads-up drafted in your template, flagged for review.

Sources · 5
Argus · Block 37§4
Yardi · GL Q2L118
Loan · DSCR§6.2
Lease pipeline.csv
Debt schedule§2
Engine check
noi_f12m$7.36M
÷ debt_svc$6.25M
= dscr_fcst1.18×
covenant1.20×
→ breachHIGH
The product

One platform. Every surface your team works in.

From the agent catalog to the cashflow model to the covenant monitor, every screen runs on the same cited, deterministic core.

app.builtai.co/agents
Workspace AI agents
AI agents3 running now
liveDeal Underwriter · One Beacon OM → IC memoRunning
09:40Covenant Watch · Block 37 DSCR forecastDrafted
liveLease Abstractor · 14 leases fields citedRunning
liveVariance Explainer · NOI bridge drafted drivers isolatedRunning
09:31Close Reconciler · Q2 142 entitiesComplete
09:27Investor Letter Drafter · Fund III LP letter 42 figures citedDrafted
runs per day · trending up 41% w/w
2,400 runs · last 7 days0 autonomous external actions
AI agents · a catalog that runs the lifecycle
app.builtai.co/assets/block-37/model
Block 37 Levered cashflow
Levered cashflowDeterministic engine
Line ($000s)
FY25
FY26
FY27
FY28
Gross potential rent
13,640
14,210
14,690
15,180
Vacancy & credit loss
(1,160)
(1,240)
(1,180)
(1,210)
Operating expenses
(4,990)
(5,210)
(5,320)
(5,460)
Net operating income
7,490
7,760
8,190
8,510
Debt service
(6,250)
(6,250)
(6,250)
(6,250)
Levered cash flow
1,240
1,510
1,940
2,260
Every cell cites its lease, GL line or Argus assumption
NOI FY28 $8.51M÷ exit cap 5.50% GAV $154.7M debt $92.0M= net equity $62.7M
Argus · Yardi GL · Lease scheduleBuilt AI · model
Cashflow model · math you can audit, cell by cell
app.builtai.co/assets/block-37/variance
Block 37 Variance & covenants
Covenant monitorLive · reconciled 2m ago
NOI vs plan
−2.1%
▼ $164k
Occupancy
91.2%
▼ 0.8
DSCR
1.24×
▼ trending
LTV
59.5%
vs 80% cov
Covenant watch1 breach forecast
HIGHDSCR 1.20× test Aug 1 · forecast 1.18×
Now1.24×
Aug 1 forecast1.18×
Variance driversexplained
Turnover cost −$86k · 2 move-outs
Concessions −$47k · 1.7% over market
Tax reassessment −$31k · appeal filed
Total vs plan−$164k
DSCR · trailing 8 quarterscovenant 1.20×
1.40 1.20
Q3'24Q3'25Aug 1 · 1.18×
Yardi · Argus · Loan docsBuilt AI · variance
Covenant monitor · the breach forecast before the test
The AI analyst

Meet Christine. Deploy AI analysts, live.

Christine, Built AI analyst
Christine
Asset Management analyst

Christine is a Built AI analyst that already knows your portfolio. Deploy her, and a roster of specialists, onto your own data in minutes. Each one works on the graph, cites every source, and waits for your approval.

Christine on live video LIVE
Christine · AI Analyst
Live video session · 00:12
Tenant: Portfolio
Walk me through what changed in Fund III this week.
Christine

Three things moved.

Block 37 booked two move-outs; turnover costs push NOI −1.4% vs plan. The variance bridge is drafted, drivers isolated. breach: HIGH

One Beacon signed an anchor LOI, lifting projected NOI +2.6%.

Q2 valuations are ready for your approval.

Christine

Three leases, 41,800 sq ft across two assets.

Gateway anchor (28,400 sq ft) rolls Mar 2027 · renewal probability 68% · market rent +9% vs in-place. rollover: WATCH

Block 37 suites 1204 & 1310 roll Nov 2026. Abstracts and comps are linked, clause by clause.

Christine

Drafted in your Fund III template, 42 figures cited to fund accounting.

DPI 0.62× · TVPI 1.48× · net IRR 13.9%. cited

I flagged the Block 37 covenant note for your review. Nothing sends without you.

Ask Christine about your portfolio…
Deploy a specialist
C
Christine
Asset Management
A
Atlas
Acquisitions
F
Faye
Finance & IR
W
Wren
Covenant Monitoring
Knows your portfolio

Onboarded on your graph, not a generic chatbot.

Christine reads your deals, books and documents through the knowledge graph, so she answers in the context of your actual assets.

Cites every source

Every figure traces to where it came from.

Each number she returns links to the lease, GL line or model behind it, computed on the deterministic engine, never guessed.

Waits for approval

She drafts and computes, then stops.

Nothing leaves your tenant without a named human approving it. Zero autonomous external actions.

Deploy an analyst
AI agents

A catalog of agents that runs the lifecycle.

Each agent watches an event on the graph, does the work, and pauses for approval. None of them act on your behalf without a human. See the full catalog →

Deal Underwriteron approval

Offering memo to IC memo.

Watches new offering memoranda in the data room, extracts every field with a citation, runs your scenarios, and drafts the IC memo.

Lease Abstractoron approval

Every lease, abstracted.

Reads executed leases as they land, captures rent steps, options and recovery clauses, and cites each term back to the page it came from.

Covenant Watchmonitoring

Breaches, before the test.

Tracks loan covenants against live actuals and forecasts DSCR and LTV breaches ahead of the test date, with a drafted lender notice.

Close Reconcileron approval

A continuous close.

Reconciles GL actuals to source as they post and drafts accruals before the period opens, so the close is days, not weeks.

Investor Letter Drafteron approval

Letters that cite themselves.

Drafts each LP letter and capital-account statement in your template, with every figure traced to the fund accounting behind it.

Variance Explaineron new actuals

Variance, explained.

Builds the NOI bridge, isolates the drivers, and drafts the variance narrative, with every figure traced to source.

Who it's for

Configured for every seat. One graph underneath.

The same operating system shows up differently for each seat. Pick yours and see the day-to-day.

"Built AI is already shaping how we think about asset management. The platform automates analysis of rent rolls, cashflows, and business plans, cutting through complexity and surfacing asset-specific risks and opportunities in minutes."

Carlos Olea, Chief Financial Officer · Howard Hughes Holdings · NYSE: HHH
2,000+
Assets live on the platform
61
Commercial assets live at Howard Hughes
0
Autonomous external sends
Comparison

The only stack this complete.

One flexible platform that customizes to your workflow replaces a stack of enterprise-priced point tools: less sprawl, lower total spend, one source of truth.

Capability
Built AI
Frontier
Built AI
PM incumbents
Juniper Square · DealCloud
RE ERPs
Yardi · MRI · Argus
Horizontal AI
ChatGPT · Claude
Point chatbots
RE wrappers
Built for AI-native workflows
Understands RE data natively
Deterministic, auditable engine
Continuous close & reconciliation
Co-exists with Argus, Yardi, Excel
Multi- or single-tenant · BYO model · self-host
Deploys in weeks, not quarters
Full support Partial None
100%
Auditable outputs
Every number traces to a source.
0
Autonomous sends
Nothing leaves without approval.
SOC 2
Compliance track
SOC 2 Type II and ISO 27001, both in progress.
Governance

The black-box problem, and our answer.

EY calls it the black-box problem: a model whose reasoning cannot be audited is disqualified from regulated capital. Our answer is to be more auditable than the analyst-and-Excel flow we replace.

Your data stays in your tenant, you can self-host, and it never trains any model. Read the full security story →

Security & governance
Awards & recognition

Recognized across the industry.

The Variety Props Awards
Future of Real Estate Award
The Variety Props Awards
GRI Institute
PropTech of the Year
GRI Institute Awards
Property Week
Best Use of AI in Property
Property Week Tech Innovation Awards
Property Week
Commercial Innovation in PropTech
Property Week Tech Innovation Awards
Property Week
Property Company, Tech-Led Innovation
Property Week Tech Innovation Awards
Next step

Over
to you.

We'd love to walk your team through a live Built AI environment, pre-loaded with a portfolio shaped like yours.

60 minutes. Any time in the next two weeks.

What you'll see
A live environment
Your asset classes, your fund structures.
Format
60-minute walkthrough
No slideware; your questions drive it.
Where
Remote or on-site
Teams NYC · London