February 12, 2018, San Diego, CA -EDR, a national provider of data, applications, and insight for the property due diligence industry, today announced at the Mortgage Bankers Association's CREF/Multifamily Conference it has partnered with CompStak to deliver commercial real estate transaction information through the Collateral360® platform. Under the agreement, EDR will offer CompStak's lease comp data, as well as other property level information to its client base of over 980 lending institutions.
CompStak's data supports decision making throughout the real estate investment lifecycle, from improving underwriting accuracy during origination to loan disposition. It helps in determining asset value and enhances the valuation process with detailed lease information to support income analysis, including starting rents, lease terms, tenant improvements, and rent escalations. Lenders can make key income assumptions based on real market value using CompStak.
EDR's Collateral360 platform is a web-based application that streamlines critical lending processes such as collateral valuation, environmental investigations, flood investigations, site inspections and other third-party services and information critical to underwriting and managing real estate assets.
"The addition of CompStak's property data and analytics to our Collateral360 platform represents another step towards our vision of providing a single platform that simplifies the process of underwriting and managing real estate assets," said Dean Graves, president and COO of EDR, Inc. "The collection and analysis of property information is perhaps the most time consuming and resource dependent aspect of real estate lending. Having quick access to information allows for more thorough analysis." Graves added that CompStak data will be available on its Collateral360 platform in the first quarter of 2018.
"Many of the world's largest lenders already use CompStak to underwrite commercial real estate assets," said Michael Mandel, CEO and Co-Founder of CompStak. "Our partnership with EDR allows us to broaden our reach to nearly 1,000 new lenders across the country. The integration of our platforms will create efficiency in appraisal, appraisal review and asset management, while ensuring that the best data is used in the underwriting process. We couldn't be happier to work with EDR to power the property due diligence industry."
EDR is a leading provider of information, technology and workflow solutions to the real estate lending and property due diligence industries including environmental consulting firms, financial institutions, appraisers, and corporations. EDR provides web-based tools that help its clients increase operational efficiencies and better analyze and manage property related risk. EDR's database contains over 4.1 billion property records, including the most comprehensive repository of environmental and land use information in the United States. EDR also conducts market research and shares strategic intelligence through a variety of online channels and in-person events. Founded in 1990, EDR is headquartered in Shelton, Connecticut and is owned by the Daily Mail and General Trust, plc (DMGT). http://www.edrnet.com
CompStak creates transparency in commercial real estate markets by gathering information that is hard to find, difficult to compile, or otherwise unavailable. Since 2012, CompStak has delivered this unmatched insight to a network of tens of thousands of members and clients, including Tishman Speyer, Wells Fargo, Vornado, Boston Properties, Equity Office Properties, and every major brokerage nationwide. CompStak Exchange is an exclusive platform for CRE brokers, third-party appraisers, and researchers to get analyst-reviewed commercial lease and sales comps at no charge. Through CompStak Enterprise, lenders, landlords, and investors can access granular CRE transaction information and market analytics.