The complete CRE transaction platform

Moraine turns an OM, rent roll, and operating statements into a working DCF—not a summary or a static template. It builds the leases, recoveries, expenses, debt, and market leasing assumptions, then gives you a model you can review, edit, stress, compare, and export. Every extracted input stays linked to its source.

An OM is enough to start. You can also begin with a rent roll and income statement, then add leases, debt quotes, or other supporting files as they become available. More complete inputs improve the first draft and give Moraine more evidence to reconcile.

Yes. Start a blank model, enter the deal assumptions directly, and add tenants, expenses, financing, and market leasing assumptions yourself. Documents accelerate the first draft, but they are not required to use the underwriting engine.

Moraine supports office, retail, and industrial underwriting. The engine is designed for income-producing commercial real estate, including tenant-level lease schedules, recoveries, rollover, operating expenses, capital, debt, and exit assumptions.

You do not have to take Moraine’s word for an input. Extracted values carry document and page references, unstated items remain explicit assumptions, and the review queue surfaces conflicts, low-confidence reads, and failed tie-outs. Exports include source lineage, warnings, and a trust stamp so the model’s review state travels with the numbers.

Moraine shows the competing values and links you back to their sources instead of silently choosing one. You decide which value belongs in the model, and every field remains editable. Changes recalculate immediately and are captured in the model’s undo and audit history.

Yes. Change tenant assumptions, market leasing, expenses, capital, exit assumptions, or financing by hand or with the modeling agent. Clone a case, change the whole model, compare it with your base case, run two-variable sensitivities, and move between scenarios without maintaining separate files.

Moraine supports multiple debt instruments, senior and mezzanine financing, interest-only periods, amortization, fees, sizing tests, and refinancing. Partnership modeling adds LP and GP equity, preferred returns, promote tiers, catch-ups, fees, and waterfall reporting. Refinance and waterfall modeling are available when you enable them; neither is assumed by default.

Yes. Save market leasing assumptions, operating conventions, financing inputs, formatting, and export layouts as reusable presets. Apply the same house standards to the next deal, then adjust only what is transaction-specific.

It can replace much of the repetitive setup, data entry, scenario maintenance, and audit work around them, but it does not force an all-or-nothing migration. Use Moraine as the working underwriting model, export the results to Excel, and keep the downstream templates and approval processes your team already trusts.

Moraine exports XLSX workbooks with flat headers and no merged cells. You can assemble packages from reports covering cash flows, returns, debt, waterfalls, rent roll, tenant cash flows, recoveries, assumptions, sensitivities, and source lineage. Moraine does not currently export formatted PDFs.

Team accounts provide shared access and centralized billing, but Moraine is not yet Google Docs for underwriting. Live multi-user editing, self-service team administration, and in-product document sharing are not currently available. Exported files are distributed through your existing process.

A qualified underwriter should review the open items, source conflicts, key lease economics, recovery structures, financing, and return assumptions before relying on a model for IC. Moraine reduces the work from re-keying an entire deal to reviewing the inputs that can actually change the decision; it does not remove professional judgment.

Update the relevant inputs, revise the scenario, or apply a new set of assumptions and the model recalculates immediately. Undo and redo preserve the edit trail, while separate scenarios let you keep prior cases intact instead of creating another final-version spreadsheet.

Your documents and models remain yours and are never used to train Moraine’s models or third-party models. Firm data is isolated from other customers. Larger teams can also complete a security review and discuss SSO or SAML requirements before rollout.

Moraine does not export PDFs, provide live multi-user editing, or offer self-service team and document-sharing administration. It also will not guess whether a lease is executed, extended, or month-to-month when the documents do not say; it creates an open item for you to resolve instead.

Your free trial lasts 7 days or 10 models, whichever comes first, with no card required. Pro is $300 per month for unlimited models and workbook exports. Team plans add shared seats, onboarding, priority support, security review, and legacy-model conversion.