AI Real Estate Underwriting: Claude Tools for CRE Analysis

CRE Underwriting in Minutes, Not Days

Commercial real estate underwriting involves detailed cash flow projections, debt service calculations, and multi-tiered capital stack analysis. ClaudeFinanceLab's real estate MCP server gives Claude the ability to run these calculations with precision — turning hours of spreadsheet work into a conversation.

Core CRE Underwriting Tasks

NOI and Cap Rate Analysis

• "Underwrite this office property: 50,000 sq ft, current rent $45/sf, 90% occupancy, OpEx $18/sf, 5% vacancy allowance. What's the stabilized NOI and value at a 6.5% cap rate?"
• "The seller is asking $12M for a 20,000 sf retail center with $820K NOI. What is the implied cap rate? What's our target price at a 7.5% cap?"

DSCR and Loan Sizing

Debt service coverage ratio (DSCR) determines how much debt a property can support:

• "With $820K NOI, size a 10-year fixed-rate loan at 6.25% interest, 25-year amortization, 1.25x DSCR minimum. What's the maximum loan amount?"
• "A lender requires 1.30x DSCR on a 70% LTV loan. Does this property qualify? NOI: $680K, Purchase: $9.5M."

Multi-Year Cash Flow Projections

• "Project 10-year cash flows for a multifamily property: 120 units, current rents $1,800/unit, 95% occupancy, 3% annual rent growth, 2% expense growth. Show NOI, cash-on-cash return, and equity multiple."
• "Run a hold period analysis with 5-year and 7-year exit scenarios at cap rates of 5.5% and 6.5%."

Joint Venture Waterfall Modeling

JV structures with preferred returns and carried interest require precise waterfall calculations:

• "Model a JV waterfall: 90/10 LP/GP split, 8% preferred return, 20% GP promote above the pref. Total equity: $5M, hold period returns: [paste annual distributions and sale proceeds]."
• "We have a 3-tier waterfall: 8% pref, then 80/20, then 70/30 above 15% IRR. What are LP and GP returns at a $2.8M total distribution?"

Lease Abstraction

Claude can extract key lease terms from commercial lease documents:

• Base rent, rent escalations, and lease expiry by tenant
• Renewal options, termination rights, and ROFO/ROFR provisions
• Tenant improvement allowances and landlord obligations
• CAM (Common Area Maintenance) expense caps and exclusions

"Here is the lease for Suite 201. Extract: tenant name, lease term, base rent schedule, renewal options, and any co-tenancy or kick-out clauses."

Setting Up the Real Estate Server

{
  "mcpServers": {
    "claudefinlab-realestate": {
      "url": "https://claudefinancelab.com/realestate/sse",
      "headers": { "Authorization": "Bearer YOUR_API_KEY" }
    }
  }
}

Related Skills

• CRE Underwriting Engine — NOI, DSCR, 10-year projections
• JV Waterfall Calculator — preferred return, promote tiers
• Bridge Loan Sizer — construction and bridge financing
• Cap Rate Comparables Analyzer — market benchmarking