Prophia Expands Retail Capabilities for CRE Industry with Generative AI-Powered Features for Faster Reporting and Improved Customization

• AI-driven proptech company, Prophia, continues transforming CRE data management with its latest advancements for managing retail leases.
• Powered by generative AI, these new capabilities enable CRE investors, owners, and retail portfolios managers to easily manage lease data, quickly generate custom reports, and streamline the onboarding process

Prophia, the innovative AI-driven proptech company transforming the commercial real estate (CRE) industry, announced its latest feature enhancements today. These advancements include expanding AI-powered retail-specific clause recognition and creating Quick Reports, giving managers access to the most powerful platform available to efficiently manage lease data, generate custom reports, improve productivity, and optimize decision-making.

With these advancements, CRE building owners can rely on Prophia’s centralized, trusted source of lease information to empower them with the real-time data and actionable insights they need to make sound retail leasing decisions.

“Prophia is committed to delivering insights and features that address our customers’ pain point of countless hours wasted manually reviewing leases,” says Prophia’s Co-Founder and CEO, Cameron Steele. “By introducing AI-powered retail annotations, we’re helping to streamline management operations, and reduce customer risk, which are paramount to improving business outcomes.”

The new retail-specific clause recognition, including Tenant Radius Restriction and No Build Area, provides essential data for daily operations and business transactions of CRE owners and investors. Quick Reports also allow users to access customized data instantly by aggregating building data from specified assets or across their entire portfolio, eliminating time-consuming abstraction and human error.

Customers like Klein Enterprises, a CRE investment firm based in Baltimore, use Prophia’s retail capabilities for its due diligence process. In its latest retail acquisition, Klein Enterprises used Prophia’s platform to identify discrepancies, missing documents, and data gaps. A major part of that process is extracting information from a host of lease documents. What was once a time-consuming task has evolved into a more efficient process thanks to the new generative AI-powered features.

“Prophia’s revolutionary technology and exceptional customer service have transformed our process, giving back time in spades—time being the most valuable asset during this critical period,” says Matt Hutton, the Associate Director of Acquisitions & Development at Klein Enterprises. “The delivered insights refined our underwriting process, all while saving nearly half the time and cost compared to traditional approaches we used in previous deals of similar size.”

“Prophia’s proprietary Generative AI empowers our users to make data-driven decisions confidently,” adds Steele. “As we continue to grow and enhance our platform, we remain confident in our ability to provide customers with the most advanced and innovative solutions to improve decision-making at scale.”

Following the platform’s 2018 launch, Prophia now serves more than 200 million rentable square feet on top of over 2,000 commercial properties, an increase of 800% since 2020. The company grew ARR by more than 250% in 2022 and has raised over $10 million in Series A funding led by top investors, including Cercano Management and SignalFire.

For more details on Prophia and to learn more about its retail tags feature, visit prophia.com.

About Prophia:
Prophia is the leading provider of AI technology for lease abstraction and CRE data management, bringing massive amounts of lease and tenant information together to empower CRE landlords with real-time data and portfolio insights. By tethering data directly from its source documents and making it available in easily digestible formats, Prophia gives building owners and investors a competitive advantage with a unique opportunity to mitigate risk, reveal business opportunities and elevate decision-making at the asset and portfolio level. Trusted to be the true data source for the nation’s top CRE investors, Prophia integrates seamlessly into corporate ecosystems with direct integrations with Yardi and MRI.

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Natalie Bartels

PR for Prophia

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