Partner
Customized agents for CRE firms that are tired of AI theater. We help real estate teams move from scattered AI chat to deployed systems that actually execute, combining institutional CRE experience, AI engineering, and practical team training.
Pacific Software Ventures helps operating businesses put AI to work through three service lines: AI Strategy to identify the highest-impact use cases and build a roadmap, AI Training through the CRE AI Institute to upskill teams, and AI Engineering to build custom AI employees that run workflows end to end inside existing tools. PSV's flagship work is in commercial real estate, where AI employees read offering memorandums, underwrite into client Excel models, and run portfolio reporting with every number traced to a source. Trusted by teams at CBRE, J.P. Morgan, Wells Fargo, Greystar, and PGIM.Trusted by CRE professionals at
The problem
If your team is juggling ChatGPT, Claude, Copilot, and a dozen other tools, you already feel it.
ChatGPT, Claude, Copilot, a new wrapper every week. No honest way to tell which few actually move your numbers, or where to even start.
The mandate came down from the top. The first real step never did. So the work still gets done by hand, one quarter after another.
A Copilot rollout opened twice, a pilot that quietly stalled, licenses billing every month. Tools without a system around them go silent.
It hallucinated, handed you something you would never put your name on, and you went back to doing it yourself. Trust, spent.
We get it
We built AI inside institutional firms and walked through all four walls ourselves. That is exactly the system we put back together for you: strategy to aim it, training to run it, engineering to ship it.
Speed was never the hard part. Trust is. As the market fills with AI nobody can verify, your edge is the rarest thing left: a number that is real, traced to its source, and safe to put your name on.
We show the work
Not a promise on a slide. This is the actual output our AI employees produce across the deal lifecycle, finding deals, closing them, and operating them, every number traced to its source. Institutional-grade work, while everyone still doing it by hand falls behind.
A sample, not the full menu. Your system produces dozens of these across sourcing, closing, and asset management.
| 1 | MESA RIDGE APARTMENTS | Analysis Date: Jun-2026 | ||
| 2 | 248-Unit Value-Add Acquisition | Fort Worth, TX | 5-Year Hold | ||
| PROPERTY & DEAL SUMMARY | ||||
| 4 | Purchase Price | $48,500,000 | Units / Year Built | 248 / 1998 |
| 5 | Price / Unit | $195,565 | Net Rentable SF | 231,072 |
| 6 | Going-In Cap (T-12) | 5.25% | Physical Occupancy | 93.5% |
| 7 | Stabilized Yield on Cost | 6.00% | Exit Cap / Hold | 5.25% / 5 Yr |
| 8 | Senior Loan (65% LTV) | $31,525,000 | Rate / Amortization | 5.60% / 30 Yr |
| 9 | DSCR Yr 1 / Stabilized | 1.36x / 1.82x | Debt Yield (Stab.) | 10.2% |
| OPERATING PRO FORMA SUMMARY | ||||
| 10 | T-12 | Year 1 | Stabilized | |
| 11 | Gross Potential Rent | 4,261,600 | 4,448,000 | 5,167,900 |
| 12 | Vacancy, LTL & Bad Debt | (426,100) | (478,100) | (361,800) |
| 13 | Other Income (RUBS, fees) | 312,500 | 322,000 | 359,000 |
| 14 | Effective Gross Income | 4,148,000 | 4,291,900 | 5,165,100 |
| 15 | Operating Expenses | (1,601,750) | (1,889,900) | (1,955,100) |
| 16 | NET OPERATING INCOME | 2,546,250 | 2,402,000 | 3,210,000 |
| RETURNS (5-YEAR HOLD) | ||||
| 17 | Levered IRR (5-Yr) | 13.9% | Equity Multiple | 1.85x |
| 18 | Unlevered IRR | 9.4% | Avg Cash-on-Cash | 5.0% |
Pricing Guidance · June 2026
Broker Opinion of Value
Airpark Commerce Center | 3636 E Air Lane, Phoenix, Arizona
84,000 SF Infill Industrial · 100% Leased · WALT 3.8 Yrs
Subject Property
Airpark Commerce Center
Concluded Value
$14,000,000
$166.67/SF · 6.20% cap
Low
$13,500,000
$160.71/SF · 6.43% cap
High
$14,500,000
$172.62/SF · 5.99% cap
Pricing guidance reflects the subject's infill location, 100% occupancy across three tenants (WALT 3.8 years), and a 7% mark-to-market opportunity at rollover, weighted toward the direct capitalization approach.
Valuation Approaches
Direct Capitalization
$14,000,000
$166.67/SF
In-place NOI $868,000 at a 6.20% cap
Sales Comparison
$13,944,000
$166.00/SF
Five comps, concluded at $166.00/SF
Discounted Cash Flow
$14,210,000
$169.17/SF
7.25% discount, 6.50% exit cap
Sale Comparables
| Property | Submarket | Sale Date | SF | $/SF | Cap |
|---|---|---|---|---|---|
| 4150 E University Dr | Sky Harbor | Mar-26 | 96,400 | $174.50 | 5.95% |
| Broadway Commerce Center | Tempe | Jan-26 | 72,850 | $170.75 | 6.10% |
| 2640 S 16th St | Sky Harbor | Nov-25 | 58,200 | $181.75 | 6.00% |
| Riverside Distribution Ctr | SW Phoenix | Sep-25 | 111,600 | $158.50 | 6.55% |
| 1855 E Watkins St | Sky Harbor | Aug-25 | 84,900 | $165.25 | 6.30% |
| Subject (concluded) | Sky Harbor | Jun-26 | 84,000 | $166.67 | 6.20% |
* Comps reflect closed sales over the trailing twelve months; subject metrics per in-place rent roll.
CONFIDENTIAL · Prepared at the request of ownership. This analysis is an opinion of probable market pricing, is not an appraisal, and has not been prepared in conformance with USPAP.
Generated by PSVPricing Summary · 01Exclusively Offered · Grocery-Anchored Retail
The Grove at 12 South
128,500 SF Whole Foods-Anchored Neighborhood Center · Nashville, TN
MSA
Nashville-Davidson, TN
Submarket
12 South
Subject Property
The Grove
Price
$35,950,000
Cap Rate
5.65%
In-Place NOI
$2,031,000
Price / SF
$280
Total GLA
128,500 SF
Occupancy
96.2%
Investment Highlights
Irreplaceable 12 South location. Hard-corner asset in Nashville's most supply-constrained, walkable submarket, with average household income above $142,000 inside one mile.
Internet-resistant, service-driven tenancy. Whole Foods Market anchors a roster weighted toward grocery, fitness, medtail, and food-and-beverage uses that draw recurring daily-needs traffic.
Durable, below-market in-place income. 96.2% leased with a 7.8-year WALT and shop rents roughly 14% under market, leaving mark-to-market upside on a staggered rollover schedule.
True NNN structure. An absolute-NNN anchor and shop tenants on NNN reimbursements insulate ownership from operating-expense and tax inflation.
Lease & Income Summary
| Tenant | SF | % GLA | Lease Type / Expiry |
|---|---|---|---|
| Whole Foods Market | 41,000 | 31.9% | Absolute NNN · 2039 |
| National Fitness (Jr. Anchor) | 24,500 | 19.1% | NNN · 2034 |
| Medtail & Wellness · 4 tenants | 22,200 | 17.3% | NNN · 2030-2033 |
| Food & Beverage · 7 tenants | 19,400 | 15.1% | NNN · 2028-2032 |
| Service & Soft Goods · 9 tenants | 16,500 | 12.8% | NNN · 2027-2031 |
| Vacancy | 4,900 | 3.8% | Available |
* Occupancy and WALT as of trailing month-end rent roll. Guidance reflects in-place NOI of $2,031,000 at a 5.65% cap rate.
This Offering Memorandum is confidential and furnished solely for the recipient's evaluation of the subject property. It contains select information and does not purport to be all-inclusive. PSV Capital Advisors makes no representation or warranty as to its accuracy or completeness. Recipient agrees not to reproduce or distribute it without prior written consent.
Generated by PSVInvestment Summary · 01DD Day 18 of 30 · June 2026
Red-Flag Report
Mesa Ridge Apartments · 248 Units · Fort Worth, TX
Subject PropertyVerdict
Proceed
Nothing here breaks the deal at $48.5M. The two high flags need answers before the financing contingency expires July 11, and both carry a number, not an opinion.
Documents Reviewed
14
Flags Raised
6
High Severity
2
Days to Contingency
12
Findings by Severity
| High | Phase I ESA · §6.2 | Former dry-cleaning operation on the adjacent parcel. Consultant recommends a vapor encroachment screen before close. |
| High | Tax bill · Tarrant CAD | Assessed value sits 29% below contract price. Reassessment at sale adds roughly $318,000 in annual tax versus the T-12. |
| Med | T-12 · ln 44 | One-time $41,200 insurance claim credit booked against opex in October. T-12 NOI is overstated 1.6% as underwritten. |
| Med | ALTA survey · Sch. B-II, item 9 | A 20-foot utility easement crosses the north lot, where the business plan adds 24 carports. |
| Med | Rent roll | 31 of 248 units (12.5%) are month-to-month, and 41% of leases roll inside the first six months of the hold. |
| Low | Service contracts · §4 | Laundry agreement auto-renews for five years on Dec 31 unless notice is given 90 days prior. |
* Severity reflects pricing or timeline impact if unresolved. Each citation points to the page and line in the data room. Sample report on a sample deal.
Generated by PSVMesa Ridge · 01Reporting Period · May 2026
Budget Variance Report
Brookwood Apartments · 220 Units · Charlotte, NC
Value-Add Capital Project · Pool & Amenity Renovation

Phase 1 pool and amenity renovation completed April 2026 from the capital budget, distinct from operating R&M below. The upgraded common areas anchor the rent premiums underwritten in the value-add business plan.
NOI · Actual
$225,500
NOI · Budget
$232,300
Variance
($6,800)
Variance %
-2.9%
Occupancy
94.1%
YTD vs Budget
+1.2%
| May 2026 | Actual | Budget | Var $ | Var % |
|---|---|---|---|---|
| Revenue | ||||
| Gross Potential Rent | 412,500 | 410,000 | +2,500 | +0.6% |
| Loss to Lease & Concessions | (18,400) | (15,000) | (3,400) | -22.7% |
| Vacancy & Bad Debt | (22,100) | (20,500) | (1,600) | -7.8% |
| Other Income (RUBS, fees) | 31,200 | 28,000 | +3,200 | +11.4% |
| Effective Gross Income | 403,200 | 402,500 | +700 | +0.2% |
| Operating Expenses | ||||
| Payroll | (44,800) | (43,000) | (1,800) | -4.2% |
| Repairs & Maintenance | (28,600) | (22,000) | (6,600) | -30.0% |
| Utilities | (19,300) | (21,000) | +1,700 | +8.1% |
| Marketing & Leasing | (6,200) | (7,500) | +1,300 | +17.3% |
| Admin & Management Fee | (24,500) | (24,300) | (200) | -0.8% |
| Insurance | (15,900) | (14,000) | (1,900) | -13.6% |
| Real Estate Taxes | (38,400) | (38,400) | 0 | 0.0% |
| Total Operating Expenses | (177,700) | (170,200) | (7,500) | -4.4% |
| Net Operating Income | 225,500 | 232,300 | (6,800) | -2.9% |
Variance Commentary
May NOI finished $6,800 (2.9%) under budget. The miss is concentrated in repairs and maintenance, $6,600 over plan from two HVAC condenser replacements in Building C, plus a $1,900 insurance true-up at renewal. Utilities and marketing ran favorable and partly offset. R&M is expected to normalize in June, and full-year NOI remains 1.2% ahead of budget.
* Unaudited, trailing calendar month. Variances shown favorable (green) or unfavorable (red) to budget.
Generated by PSVOperating Summary · 01Marcus Webb · Eastdil Secured
Reply now8:41 AMRe: Airpark Commerce Center, best and final Friday
Seller wants best and final by 5pm Friday. Can you confirm your number and timeline?
Marcus, confirmed. We will have best and final in by Friday 5pm ET. Our number is $14.25M at a 6.10% in-place cap, 30-day close, $500K hard at signing. Survey and Phase I are in hand. LOI redline to follow within the hour.
Linda Cho · Wells Fargo
Reply now8:12 AMStonebridge refinance: rate lock window
We can lock at 6.35% today. I need the signed application back to hold it.
Property Mgr · Brookwood Apts
Today7:55 AMMay variance ready for your review
NOI landed 2.9% under, R&M driven. Commentary attached for your sign-off.
CoStar Alerts · Listing feed
FYI6:30 AM3 new listings in your Sky Harbor buy-box
84k SF infill industrial, 6.1% cap, 100% leased. Two more inside your filter.
DocuSign · Completed
Auto-filedYesterdaySigned: NDA, The Grove at 12 South
All parties have signed. Filed to the deal folder automatically.
Generated by PSV6 prioritized · 41 filedYear 3 of 5 · Analysis June 2026
Hold / Sell Analysis
Cedar Port Logistics · 312,000 SF · Dallas, TX

Recommendation
Sell now
Forward return to holding (11.2% over the next 24 months) sits below the fund's 13.0% reinvestment hurdle, and today's 5.75% exit pricing is near a cyclical low. Launch a sale now and redeploy the proceeds.
Scenario Comparison
| Sell Now · Rec | Hold 24 Mo | Hold to Plan | |
|---|---|---|---|
| Gross Value | $54.0M | $57.4M | $59.3M |
| Exit Cap | 5.75% | 5.85% | 6.00% |
| Net Proceeds to Equity | $25.89M | $29.6M | $31.4M |
| Levered IRR (since acq.) | 18.4% | 15.1% | 14.2% |
| Equity Multiple | 1.95x | 2.18x | 2.41x |
| Incremental Forward IRR | n/a | 11.2% | 11.8% |
Sell-Now Sensitivity
| Exit Cap | Net Proceeds | Levered IRR |
|---|---|---|
| 5.50% | $28.35M | 19.5% |
| 5.75% (base) | $25.89M | 18.4% |
| 6.00% | $23.67M | 17.0% |
Position
Acquired
Jun 2023 · $42.0M
In-Place NOI
$3,105,000
Loan Balance
$27.3M
Leverage
65% LTV
* Projected scenarios assume contractual rent growth and the exit caps shown. Forward IRR is the incremental return earned by holding from today. Not investment advice.
Generated by PSVInvestment Committee · 01PSV Real Estate Partners II, LP · April 2026
Letter to Limited Partners
First Quarter 2026 · Unaudited, net of fees

Net IRR
14.8%
TVPI
1.35x
DPI
0.27x
NAV
$71.4M
Dear Partners,
The portfolio ended the quarter ahead of plan, with all three assets cash-flowing and the fund's tenth consecutive quarterly distribution, $900,000, paid on April 15. The Grove at 12 South went to market in March, and the committee takes up the Cedar Port hold/sell question in June. Detail on both follows.
Portfolio Summary
| Asset | Occ. | NOI vs Plan |
|---|---|---|
| Cedar Port LogisticsIndustrial · Dallas · Hold/sell goes to committee in June | 100% | +4.2% |
| Brookwood ApartmentsMultifamily · Charlotte · Watching payroll and turn costs | 94.1% | +1.2% YTD |
| The Grove at 12 SouthRetail · Nashville · On market, call for offers May 5 | 96.2% | +1.8% |
Capital Account
Committed
$85.0M
Called (78%)
$66.3M
Distributed
$18.2M
Q1 Distribution
$0.9M
* Figures are unaudited and net of fees. Full schedules and asset-level reports follow in the data room. Sample letter on a sample fund, not an offer of securities.
Generated by PSVQ1 2026 · 01Every figure traces back to the OM, rent roll, and T-12. Built to survive committee.
How we partner
Most firms hand you a tool and walk away. We partner the whole way: identify where AI pays off, build it for you, and keep the system current so you never chase AI again.
Know exactly where AI pays off.
We audit how your team actually works, find the highest-leverage use cases, and choose the right models. You walk away with a clear roadmap instead of scattered tools and hype.
Book a strategy callYour team, running AI on its own.
The CRE AI Institute, by PSV. Hands-on programs that turn your people into confident AI operators who ship real work, not just prompt tips.
Explore the InstituteAI employees that do the work.
Custom-built AI that runs your workflows end to end, inside your own templates, email, and CRM. Every output traces back to a source, and you are never locked to one model, we route to the best one and swap as the frontier moves.
See our workThe team
$1B+ in CRE closed, $11B+ underwritten, and production AI shipped. Credentials from PGIM, Goldman Sachs, Uber, AWS, Kochava, and HP.
Want this team working on your firm? Reach out directly.
Email usBuilt for your firm
Everyone in CRE is selling faster underwriting. We sell the part nobody else can copy: analysis with its sources cited, and live intelligence across your whole market. We automate the rote 80 to 90 percent and leave the judgment to you. Here is what that looks like for your firm.
Brokers, owner-operators, and boutique shops. You find the deal, win it, then close it, and the whole time you are not out finding the next one. Your AI employees carry that work in the background, so you stay in front of clients while a five-person shop covers ground like a fifty-person one.
Funds, lenders, and REITs. Your team can only underwrite a sliver of what crosses the desk. We screen the whole funnel against your buy-box and underwrite the deals that clear, on one intelligence layer your IC can defend, every number cited from the deal to the memo to the K-1.
From the field
“We can't speak high enough of you guys. Our team is extremely impressed.”

Brandon Rowell
Analyst · Westlake Realty Group
“The team is loving PSV. Really rooting for you guys and stoked to help spread the word any way we can.”

Kristina Chang
CEO · Westlake International
“We use PSV to underwrite IOS deals and produce BOVs in 1/10th the time it used to take us.”

Sid Bhatt
Commercial Advisor, CCIM SIOR · Saunders Real Estate
The AI Operating System
Find, Close, Operate. One team of AI employees sharing context through a single source of truth, so the deal moves end-to-end with no copy-paste between SaaS silos. Most vendors ship a copilot. We ship the operating system underneath.
Pick your side. See the workflows you run
01 · Find
Source the deal.
Deals screened
Deals screened: from 10 / week to 200 / week with your AI employees.Workflows
Your AI employees
02 · Close
Underwrite and fund.
OM to underwriting model
OM to underwriting model: from 2 days to 20 min with your AI employees.Workflows
Your AI employees
03 · Operate
Run the asset.
Quarterly investor reporting
Quarterly investor reporting: from 5 days to 2 hrs with your AI employees.Workflows
Your AI employees
Works for developers, operators, and investors. Value-add through opportunistic, fund or family office, wherever you sit on the cap stack. The workflows above are illustrative; we configure to your deal motion.
Why PSV








Claude, Teams, Yardi, Salesforce, ChatGPT. Each does one job. None of them understand commercial real estate.
One system of AI employees that runs your whole stack, end to end, inside your own tools.
One system, the whole workflow
Client updates
Drafted, formatted, and queued across your whole book.
Underwriting
The memo and model, handed back in your own template.
Deal sourcing
Opportunities found, scored, and piped into your CRM.
Follow-ups
Tasks created, follow-ups sent, the CRM kept current.
PSV in production · watch demo
See the work, not just the pitch.
The AI Analyst is one of the systems we ship. Run it on a sample deal: pick a property, brand it, get an IC memo + model back in ~15 minutes.
What it gets you
PSV does not just answer questions. It runs the work that grows your book, gives your team their time back, and replaces the stack of tools you are paying for every month.
AI employees run the sourcing, outreach, and follow-through that grows the book, so more deals get worked and fewer good ones slip.
Work that took hours takes minutes. Your team spends its day on judgment calls and relationships, not data entry.
Retire the shelfware and overlapping seats you are billed for every month. One system replaces the sprawl.
One source of truth. Every team works from the same models, context, and institutional memory instead of scattered chats and silos.
Take on more volume without adding heads. Capacity grows with the system, not the payroll.
No re-prompting, no babysitting. Tasks run start to finish and land inside the tools you already use.
Off-market sourcing
Most teams fight over the same 5 percent of listed deals. Your AI Deal Sourcer logs into the sources a chat window cannot, reads the signals nobody watches, loan maturities, tax records, permits, ownership tenure, and surfaces the owners worth a call before anyone lists.
Your buy-box
Listed and broker-repped owners are suppressed, and outreach sends from your own domain. You never go around a broker, and your name stays clean.
Buy-box filter
Sourced pipeline
Riverside Holdings LLC
184 units, Phoenix MSA
Flagged: Loan matures in 7 months, owner 14 years in asset
Cedar Park Partners
142 units, Austin MSA
Flagged: 3 properties, none refinanced since 2019
Delgado Family Trust
96 units, Tampa MSA
Flagged: Tax delinquency filed this quarter
Anyone can claim 200 owners. The difference is whether the number connects. Every match traces to county records, loan data, and permits.
Flagship engagement
Our deepest work lives in CRE. We build AI analysts, BDRs, and asset managers that read offering memorandums, underwrite into your Excel models, and run portfolio reporting. Source-traced, and inside the tools you already use.
AI Engineering · two build modes
The right build depends on your size. Lean teams get a turnkey environment they only supervise. Larger firms get the same AI employees deployed inside the stack they already run.
Tap to switch
PSV environment
The turnkey stack we provide and run
Your inbox
You just supervise the output
For lean teams, owner-operators, and brokers. We provide the whole environment and the AI employees. You watch the work land. A five-person shop competing like a fifty-person one.
Mode: we build it for you.Either way, you own everything we build. It keeps running even if we disappear.
Proof in the numbers
by PSVHands-on, self-paced programs that turn you and your team into confident AI operators. The lowest-pressure way to start putting AI to work, before you ever hand a build to us.

Don't take our word for it
Pick your favorite AI and ask what it thinks about PSV. No filter, no spin.
Common Questions
What teams ask before working with us.
Not sure where you fit? Let’s talk.
A 30-minute call is the fastest way to find out whether the right next step is strategy, training, or engineering.
Talk to an AI engineerWe take on a limited number of new partners each quarter.
Pricing
Most teams start with one path and grow into the others. We share exact numbers on the first call, with no surprises.
A focused audit and roadmap, scoped in days. You leave with a plan, not another subscription.
The CRE AI Institute. Hands-on programs that turn your team into confident AI operators.
A built-and-run AI employee, priced to the work. You own the code, the data, and the system.
Let's talk
Book a free strategy call. We will show you where AI changes your numbers, and how to turn it into an edge that compounds while everyone else rents the same tools.
We take on a limited number of new partners each quarter.
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