Built unveils Unified CRE Financing, Asset and Portfolio Management
Built, a leading software platform designed to connect and simplify doing business in real estate, has announced new advanced capabilities for its industry-leading Construction Loan Administration product and the launch of a new Asset & Portfolio Management product that empowers Lenders to thrive in the $20 trillion U.S. commercial real estate (CRE) market.
Together, these updates provide Lenders with the tools to asset manage CRE loans, portfolio manage the CRE book, and digitize draws on CRE bridge and construction loans—all within a single platform. The new capabilities address the complexities of CRE financing, including managing complex capital stacks, funding rules and collateral performance to enable accurate, complete asset and portfolio reporting and analytics. The platform now integrates seamlessly with existing Excel spreadsheets to simplify the user experience and eliminate redundant data entry. Additionally, the enhanced draw management features streamline collaboration on draw requests and related information, significantly improving the borrower experience and accelerating draw funding cycle time.
“Like construction, CRE has been largely underserved by technology,” said Built CEO Chase Gilbert. “We found that while we helped clients with construction draws, many asset and portfolio management processes were also often manual—with even large lenders relying on disconnected Excel spreadsheets and Business Intelligence tools to manage billions in debt assets. This insight spurred us to significantly enhance our platform’s capabilities across the entire CRE lifecycle. These new advanced tools power unmatched visibility, efficiency and risk management capabilities, crucial in today’s challenging landscape.”
Key Benefits & Features
Built boosts revenue by speeding up fund distribution through digital automation and increasing the efficiency of Loan Administrators and Asset & Portfolio Managers, enabling them to manage larger portfolios more effectively.
With tools for setting funding guidelines, managing project budgets, and forecasting future cash flow, Lenders can effectively manage their investments, assess risks more accurately, and align their activities with financial goals. Quick report generation and real-time property performance monitoring further boost revenue by enabling faster, data-driven decisions for superior risk management and investment performance
Strengthens Competitive Edge
Built strengthens Lenders’ competitive positions by enhancing borrower experiences and streamlining draw processes with a Borrower Portal powered by Project Financials. The Borrower Portal facilitates efficient online collaboration for draw requests, boosting customer satisfaction and attracting new clients with draw turnaround times that are 37% shorter than the industry average.
Centralized deal data and automated compliance tools further strengthen the competitive edge through improved operational efficiency and risk management.
Ensures Regulatory Compliance
Built helps Lenders stay compliant by giving them the ability to effortlessly manage regulatory requirements.
The advanced CRE capabilities allow for workflow customization, easy compliance monitoring, straightforward tracking, and detailed reporting, with continuous logging of all user activities to ensure auditability.
Integrates Seamlessly with Existing Systems
Built integrates with Lenders’ existing technology and systems, including a proprietary Excel add-in for seamless data integration, allowing them to leverage familiar tools together in one place for more efficient workflow and contributing to the compilation of higher-quality data to drive decisions and workflow in asset and portfolio management. It also supports flexible integrations with existing systems for smooth, two-way data flow, further reducing manual data entry and boosting productivity.
“At Citi Community Capital, we help affordable housing developers construct, rehabilitate, refinance, and acquire affordable multifamily housing across America. We were in search of a partner to enhance our business operations and improve how we serve our clients, and we found this in Built,” said Connor Lopes, Senior Vice President of Construction Asset Management at Citi Community Capital. “Built’s advanced CRE capabilities will not only enhance our business operations but also improve our service delivery. We are enthusiastic about expanding our collaboration with Built as we address the country’s housing challenges.”
Join Built at the CRE Finance Council Annual Conference 2024 in New York from June 10–12 to experience interactive demos of its advanced CRE capabilities.
