RADNOR, PA — CRED iQ recently announced the launch of its property comps tool. The tool compares a subject’s appraised value, rent, expenses, occupancy, cap rate, interest rate, as well as several other property and loan characteristics against its competitive set and the overall market.
Developed using a proprietary algorithm, the software selects similar properties from CRED iQ’s data set based on several property and loan factors and assigns a score based on the relevance of each comp. The software automatically generates comps for properties in the CRED iQ database. Users can also enter property details to generate comps for almost any commercial property in the US.
Co-Founder Michael Haas says “Our platform was built using the latest data lake technologies so that commercial real estate professionals could instantly access relevant, timely, and verified property and loan data. The comps technology allows users to quickly gauge market fundamentals or underwrite a specific loan using detailed financials from intelligent market comps with a few clicks.”
“We developed this tool to provide a convenient way for users to compare performance, valuation and loan characteristics for any commercial property with its competitive set.” Explains Co-Founder Bill Petersen. “Users have access to comps for all properties within our database, or search and generate comps for almost any commercial property in the country.”
Access the new software with a free 7-day trial by registering here.
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