Enhancing Real Estate Documents with AI

If you work in the commercial real estate industry, you know how time-consuming it can be to review legal documents such as contracts, investment offerings, leases or other real estate documents. It’s a daunting task, even if you want to find just a few key provisions. Now scale the tedious work to entire teams, who are spending valuable time manually reviewing and tagging documents. This inhibits productivity, as highly-skilled teams are spending time on low-skill work.

Aside from its tedious nature, this manual work is also risky, in that skipping over just one clause can have dire consequences for the business. For example, a REIT considering a property with hundreds of tenants can easily miss a term from a dense clause specifying an individual tenant’s right to early termination. Such human error can end up costing the firm millions of dollars since the departure of an anchor tenant would drastically reduce the property’s value.

Introducing: ADEx Box Skill

Box is a cloud content management platform that enables businesses to manage, share, and access data from anywhere securely. In addition to its core content management capabilities, Box empowers you to work with your content in much more versatile ways using various artificial intelligence (AI) technologies. The Box Skills framework lets you quickly gain deeper insight into your real estate documents in Box by enhancing them with AI. Whether you are a real estate investor, underwriter, lender, title officer or broker, the ADEx Box Skill alleviates the burden of document review in real estate. You can see an example document for the ADEx Box Skill HERE.

How Does It Work?

After you upload a file into Box, a Box Skill examines the file using ADExt’s machine learning technology. The ADEx Box Skill unlocks critical data from the document within just a few minutes and the extracted information is displayed in the Box user interface for review. All of the information is also indexed for search in Box, and can be used to trigger workflows to drive broader solutions.

Powered by a backend that uses machine learning models built on top of a layer of proprietary natural language processing, ADEx guides you to — and through — the exact facts and figures you need. This best-of-breed AI technology has been trained and tested on millions of real estate documents.

How Does It Help You?

For example, you may need to compare the rent schedules for a property’s tenants. Although the schedules exist in the lease and other real estate documents, you still have to transfer the tables into spreadsheets for further analysis. This process is made trivial by the ADEx Box Skill, which automatically locates the rent schedule and links to a complete abstract that can be exported as an Excel file (or to other software) with the click of a button.

Gone are the days of searching, copying, and pasting information from large documents (or, even worse, typing in the found text manually). You can now discover and inspect complicated language, clauses, and tables in just a fraction of the time and effort, as they are now automatically summarized on a sidebar of the Box file. You can also log into ADEx to work with the information directly.

About ADEx

ADEx uses AI to extract and analyze actionable insight from legal and financial documents; thus, it can assist in abstracting real estate documents, comps, debt and more. It provides an intuitive user interface for reviewing your documents, but behind its user-friendly frontend lies a powerful backend engine. ADEx utilizes deep learning models to learn from a large corpus of existing legal documents. It also incorporates individual users’ behavior in real-time AI models, so the document review process dynamically adapts and conforms to their needs.

The resultant summaries enable you to slice and dice data, shedding new light on your decisions. You can easily export them to create customized reports that can be linked to any cloud APIs. Ultimately, ADEx enables you to reimagine the ways that data can be harnessed for your company.

Contact Us

Discover how the ADEx Box Skill can improve the accuracy, time-management, budgeting, and decision-making of your organization. If you’re a developer, please explore the developer docs on Github. You can also visit www.ADEx.ai or email sales@adex.ai for additional information.