Specdra reads every lease, extracts key terms, flags hidden risks, and delivers structured, citation-backed data in minutes—not hours.
Lease.pdf
Base rent
$45 / SF / yr
p. 12 · §3.1
Lease term
10 years
p. 4 · §1.2
Renewal
2 × 5 years
p. 18 · §5.1
Holdover
⚠200% base
p. 41 · §11.3
How it works
Accelerate acquisition underwriting, verify lease terms during due diligence, and streamline asset disposition with instant, accurate lease data.
Drop in leases, amendments, exhibits, and rent rolls — Specdra handles the rest.
Specdra reads every page, extracts 150+ fields, reconciles amendments into one source of truth, and detects red flags, conflicts, and inconsistencies.
Navigate the abstract online with page citations, and ask the AI questions across the deal or portfolio.
Platform
Specdra converts leases, amendments, side letters, exhibits, and rent rolls into organized, searchable, review-ready data for CRE diligence and portfolio operations.
Extract economics, rights, operational terms, legal provisions, dates, and diligence fields from leases, amendments, side letters, guaranties, and exhibits.
Every extracted value includes page references, source quotes, and confidence signals so reviewers can verify the output quickly.
Flags high, medium, low, and informational risks across missing terms, conflicts, obligations, unfavorable clauses, and financial discrepancies.
Merges base leases, amendments, side letters, and related documents into one final source of truth for the deal or asset.
Compares extracted lease terms against uploaded rent rolls and highlights discrepancies with estimated pricing impact.
Ask plain-English questions across a lease, tenant file, deal room, or full portfolio and get answers grounded in source language.
Built for diligence
When acquiring, financing, or selling a property, lease terms directly impact cash flow, risk, and valuation. Specdra delivers consistent, citation-backed lease data for underwriting, pricing, and negotiations — so your team can move faster without second-guessing the source.
Commercial terms
Retail Center Lease · 84 pages
Effective date
August 1, 2026
Term
120 months (initial term)
Base rent
$38.00 PSF / year
Renewal options
Two 5-year options
TI allowance
$45.00 PSF
Assignment
Landlord approval required
Reduce deal risk
Specdra performs rent roll reconciliation and surfaces risk flags across missing exhibits, conflicting amendments, and pricing-impacting discrepancies — the issues that slip past a tired reviewer at 2 a.m.
Base rent schedule
Reconciled from lease · pp. 7–9
Rent roll mismatch detected
CAM cap differs by 4.5% vs. rent roll on file. Estimated $14,200 annual impact.
Risk intelligence
Specdra flags hidden risks, missing information, rent roll mismatches, critical deadlines, and conflicting lease language so teams can focus on the issues that affect valuation, closing, operations, and legal exposure.
Conflicting terms between lease and amendments
Missing exhibits, guaranties, workletters, riders, or site plans
Rent roll discrepancies and pricing-impacting differences
Renewal, expiration, TI, LOC, guaranty, and notice deadlines
Unusual assignment, subletting, use, default, and termination provisions
Fields that are missing, low-confidence, or require legal review
Benefits & ROI
Concrete ways Specdra changes the economics of lease diligence and asset management.
Where the value comes from
A single lease compresses from 4–8 hours to 5–15 minutes. A 50-lease portfolio review goes from weeks to a single afternoon.
Every lease in the portfolio gets the same depth of review — not just the top 10% by ABR. Hidden risk concentrations become visible.
Rent roll reconciliation surfaces NOI discrepancies translated directly into price impact. A $200/month rent error at a 6.5% cap is a $36,900 valuation gap — caught before LOI.
Catches costly post-close surprises: missed renewal deadlines, termination rights, uncapped CAM, expired LOCs, and missing exhibits.
Replaces external abstraction vendors ($300–$1,500 per lease) and frees junior analysts for higher-value work.
Every value is citation-backed with a verbatim source quote. PDF and Excel exports drop into your IC memo or lender package in minutes — receipts already attached.
A worked example
Even before counting risk avoidance and vendor cost substitution, Specdra typically saves more on a single mid-sized portfolio than a year of subscription. After that, every deal is incremental margin — and every lease in the portfolio is permanently queryable.
The simple math
Built for CRE teams
Move from document dump to diligence-ready lease intelligence before IC memos, underwriting updates, and closing deadlines.
Create a searchable source of truth for obligations, options, deadlines, restrictions, and revenue-impacting lease terms.
Review income durability, tenant rights, critical dates, risky clauses, and rent roll mismatches during credit diligence.
Turn lease packages into clean abstracts your team can review, compare, and deliver faster to clients.
Surface assignment, default, notice, use, operating expense, guaranty, and amendment issues with source-backed references.
Track dates, obligations, missing exhibits, and conflicting terms across many tenants and assets in one organized system.
Get started
Walk through a live demo with our team and see how Specdra fits into your diligence, asset management, and portfolio workflows.
FAQ
Specdra reads the entire lease — including amendments, side letters, exhibits, and guaranties — and extracts 150+ fields covering economics, rights, operational terms, legal provisions, and key dates. Every value is citation-backed with a page reference and source quote.
Each extracted value comes with a confidence signal and a verbatim source quote so reviewers can verify in seconds. Specdra is designed to surface what it finds — and flag what's uncertain or conflicting — so analysts can spend their time on judgment, not data entry.
We never share your files or data—they're used only to run your checks and deliver your reports. Access is controlled per org and per project. We don't train foundation models on your data.
Drop in lease packages and rent rolls; Specdra returns structured abstracts, reconciled rent schedules, and flagged risks. Outputs export to Excel and PDF, ready to drop into your IC memo, model, or lender package — alongside the workbooks and review processes your team already uses.
Yes. Beyond the standard 150+ fields, teams can configure their own field sets, abstraction templates, and diligence playbooks so output matches your firm's standards on every deal.
Specdra replaces external abstraction vendors and frees junior analysts from manual data entry. Senior reviewers stay in the loop — verifying flagged items, confirming judgment calls, and focusing on the terms that change the deal.
Most leases are extracted in 5–15 minutes end-to-end, including amendment reconciliation and risk review. Portfolio uploads run in parallel — a 50-lease retail portfolio can be reviewed in a single afternoon instead of weeks.