Run the deal from screening to ownership.
Each command produces a defined piece of deal work: screen the materials, normalize the rent roll, size the debt, draft the memo, true up at closing. You direct each step and the deal team gets sourced work back, ready to review and sign off.
01 · How a command works
A command works the deal in front of it.
- Run a command and it reads the deal’s own files, the working model, and the relevant prior work for that job, then produces the piece you asked for.
- The model is the spine. A command that produces numbers writes them into the same working file the next command reads, so the deal deepens in place from one command to the next.
- Every figure traces to the line it came from. Where a figure is not yet available it is marked clearly.
Fig · One command, the deal’s own files and model
The command set
Six groups carry one deal.
Each group carries one phase of the deal, with named commands an analyst types or asks for in plain English. The commands carry the work, so the analyst spends time on assumptions, risk, pricing, and recommendation.
Pipeline
The first look
/deal:get-overview writes the deal’s case-file brief. /pipeline:screen-deal runs the inbound materials through a light, top-line pass and lays out the headline numbers; /deal:draft-screening-memo writes the decide-fast note, sourced and ready for the pursue-or-pass call.
Underwriting
Build it from the documents
/underwriting:extract-rentroll and extract-operating lay the raw numbers down with full source traceability. The five set-assumptions commands, revenue, acquisition, expenses, capex, financing, take the forward view and write each one on analyst confirmation.
Memos
The committee draft
/deal:draft-ic-memo writes the equity case return-first; /deal:draft-credit-memo writes the lender case downside-first. Both outline first and draft on your approval. /deal:finalize locks a timestamped snapshot at any decision point.
Closing
Signed to funded
/closing:abstract-terms reads the executed agreement and lender conditions into one cited reference. /closing:reconcile-statement ties the settlement statement to what was contracted and writes the trued-up basis to the model. /closing:draft-closing-memo records closed-as-underwritten.
Asset management
Running it on the book
/asset-management:refresh-period closes a period against budget and the original underwrite on an append-only ledger. /asset-management:check-covenants tests the model against the loan terms; /asset-management:refresh-memo writes the periodic review.
Portfolio
The cross-deal view
/portfolio:exposure-report aggregates each deal’s published summary into exposure, concentration, the debt-maturity ladder, and performance versus plan. It reconciles its own coverage and is gated to the people you permission to read the book.
02 · Facts first, then the view
Extraction lays the facts down. Assumptions take the view.
- The extract commands normalize a raw rent roll or a T-12 into a clean, source-traced extract and write it into the model. They find the rent roll even buried in a workbook tab or a PDF exhibit, and carry every line back to its origin.
- The operating extract deliberately leaves the property-tax line out of the model, because the seller’s trailing taxes understate forward taxes once the property reassesses on the new basis.
- The five set-assumptions commands take the forward view: market rent growth and loss-to-lease, entry and exit caps, forward opex off the actuals, the renovation program, the debt terms. Each proposes the change current-to-proposed with a one-line rationale and writes on your confirmation.
- The model holds live Base, Upside, and Downside scenarios. After every write it recalculates and confirms that NOI, occupancy, and returns moved to the right values before reporting back.
Fig · Extract, confirm, then write the view
Three voices, by seat
The memo in your house format, recommendation first.
Each memo is distinct by seat and decision: screening decides fast, IC reads return-first, credit reads downside-first. The command lays out a section-by-section outline with sources before it drafts, and every figure traces to the model or a cited document. Where a number is not yet resolved it is marked and held for your input. The analyst directs, authors, and owns every draft.
Fig · IC and credit memos, your committee format
A command path across the lifecycle
One model carries the deal from first look to the book.
The light screening pass seeds the model, the underwrite deepens that same file, closing trues it to actuals, and the asset-management ledger runs it forward. Each command picks up where the last one left off.
- 01
01
Screen the inbound
Run /pipeline:screen-deal to pencil the headline numbers, then /deal:draft-screening-memo for the decide-fast note. The analyst makes the pursue-or-pass call.
- 02
02
Extract and underwrite
Normalize the rent roll and the T-12, then set revenue, expense, capex, and financing assumptions into the same model, each confirmed before it writes.
- 03
03
Draft the IC memo
Run /deal:draft-ic-memo in your house format, recommendation first, with every number tied back to the model or a cited source.
- 04
04
True up at closing
Reconcile the settlement statement against the contract, the loan, and the underwrite, and write the trued-up going-in basis back into the model.
- 05
05
Run it on the book
Close each period against budget and the original underwrite, test covenant standing, and the deal’s published summary rolls up into the portfolio view.
Start with a command, keep working
Run the command, then keep going in plain English.
A command gives you a clean, repeatable starting point. From there you stay in the same session: question an assumption, ask why a figure moved, drop in a file to read against, revise, and run the next command when you are ready. The work and the thread stay in front of you.
Fig · Command first, then work the way you think
03 · The book, for those who hold it
Read across deals, for those you authorize.
- /portfolio:exposure-report rolls up each deal’s published headline summary into exposure, concentration by asset class, market, sponsor, and lender, the debt-maturity ladder, and performance versus plan.
- Coverage reconciles first: how many deals are in the book, how many carry quantified summaries, what is excluded and why. Every total foots to the deals beneath it.
- The cross-deal view requires an explicit entitlement, re-checked on every request. Each deal’s working model stays with that deal’s team; the portfolio view works from published summaries and notes where a deal has been re-underwritten since its last publish.
exposure across the book, gated to the people you authorize
Fig · Portfolio exposure, entitlement-controlled per deal
The terminal runs the numbers and drafts the documents, so the team spends its time on the decision.
Every command does a defined piece of the work the same way on every deal, at the pace the deal demands.
Screening surfaces the numbers
The first-look pass returns headline figures and sourced facts, ready for the analyst to size up and decide.
Extraction gives you accountable data
Every extracted figure carries its source line. The analyst confirms the view before any assumption enters the model.
Every write is analyst-directed
Assumption commands propose, then write on confirmation. Memos are drafts the analyst authors and owns. The work moves at your direction.