SpaceQuant, an automation technology provider for commercial real estate origination, underwriting and asset management and JLL announced the fourth renewal of their strategic technology relationship. The renewed agreement enables JLL to leverage SpaceQuant’s automation technology for processing and analyzing financial performance of real estate assets underlying the $131 billion loan portfolio serviced by JLL.
In addition to expanding the share of the portfolio processed by SpaceQuant, the renewal agreement enables JLL to use SpaceQuant API connectivity to export data directly from SpaceQuant to JLL’s servicing system — bypassing the tedious step of copy-pasting data from exported excel files.
“SpaceQuant’s capability to extract, standardize, and analyze data from property financials, combined with automated reconciliations and analyses, has already transformed our operations. Instead of the 30 to 40 minutes it took us previously to process a single financial statement, it now takes one to three minutes with the SpaceQuant automation. The addition of the export API further automates and speeds up our processes,” said Fernando Salazar, director of asset management at JLL.
SpaceQuant analyzes thousands of real estate properties each month, making it one of the largest commercial real estate underwriting and transaction management platforms in the U.S. today, the company said.