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TESSERA
v3.1 · LEASE ABSTRACTION
Tessera · CRE lease abstraction

Read the lease. Not the lease summary.

Eighty fields, each anchored to the source page and paragraph. The full lease, the amendments, the side letters: reconciled into one abstract in ninety seconds. Every clause auditable back to the PDF byte.

8 hrs → 90 s
per lease
100% cited
page + bbox per value
<1%
missed renewals
Live · processing
Aesop · 60 Bleecker St NY · p. 9/88
Article VII · Operating expenses

§7.1 Operating Expenses. Tenant shall pay to Landlord, as Additional Rent, Tenant's Share of Operating Expenses in the manner set forth in this Article VII, as further defined on Exhibit F.

§7.2 CAM Cap. Notwithstanding anything to the contrary, the aggregate amount of Controllable Operating Expenses payable by Tenant in any calendar year shall not exceed one hundred five percent (105%) of the Controllable Operating Expenses payable in the immediately preceding calendar year, on a cumulative, compounding basis.

§7.3 Estimated Statements. Prior to each calendar year Landlord shall deliver to Tenant a statement of Landlord's good faith estimate of Operating Expenses (the 'Estimated Statement').

§7.4 Real Estate Taxes. Tenant shall pay, as Additional Rent, Tenant's Share of all Real Estate Taxes assessed against the Building during the Term.

§7.5 Reconciliation. Within one hundred twenty (120) days after each calendar year end, Landlord shall deliver a Reconciliation Statement comparing estimated to actual Operating Expenses.

§
Base rent
$216 / SF
p.3 §1.5
Term
10 yrs from 2021-09-15
p.3 §1.2
Premises
1,240 sf · ground floor
p.3 §1.1
CAM cap
5% / yr controllable
p.9 §7.2
Real estate taxes
Pro rata pass-through
p.9 §7.4
Insurance
Tenant $5M GL
p.9 §7.8
Exclusivity
skincare · 0.5 mi radius
p.12 §10.3
Annual escalation
3.5% compounded
p.5 §3.5
+ more · all cited
The dossier · before

A portfolio you cannot read.
Until it explodes.

01 · The desk
8 hrs
per lease · per analyst

112 pages of negotiated boilerplate. Six amendments. Three side letters. By the end of the day, one tenant is in the system. Tomorrow there are forty-nine more.

02 · The miss
$240,000
one missed renewal notice

180 days before expiry the option window closes. Nobody saw the email. The option lapses: tenant goes holdover at 150% of base or vacates. Either way, the asset team explains it to the owner. The math compounds at every renewal you don't watch.

03 · The portfolio
204 ÷ 1
leases · single source of truth

Different analysts abstract differently. One keeps a spreadsheet, another a Sharepoint folder, a third copies into Yardi. Three systems, three answers: and portfolio risk surfaces only when the lawyer asks. Which is usually after.

The shift · after

The lease, read.
The portfolio, watched.

01 · Speed
94 sec
Avg time to abstract one lease

Down from eight hours of analyst work. The lease is read, the amendments reconciled, the abstract emitted before you finish your coffee.

02 · Citations
100%
Every extracted value cited to source

Each emitted value points back to a page and paragraph in the original PDF: with the bounding-box overlay PDF.js draws on click. Click the cell, the source paragraph lights up. Counsel never has to ask 'where did this come from'.

03 · Vigilance
6 · 90d
Critical dates surfaced · current quarter

Renewal options. Kick-out windows. CAM reconciliations. Estoppels. The asset manager sees them before the email is sent. The owner is notified at 180, 90, 30 and 15 days out.

04 · Consolidation
Excel · 1
Source of truth

Two-way sync with Yardi, MRI, VTS. The abstract lives in Tessera. The truth lives in Tessera. Excel becomes a viewer, not a system.

Tessera · enter

Sign every clause. Know every date.

One workspace for abstracts, amendments, critical dates and audit. One pane of glass for the portfolio. One cell, one citation, one byte. Counsel sees the source. The owner sees the date.

SOC 2 Type II · ISO 27001Clause-level citations · counsel-readyYardi · MRI · VTS · two-way sync