Cision PR Newswire
Lev Announces the Launch of Lev AI
News provided byLEV
Sep 19, 2023, 9:30 AM ET
New AI features integrated into Lev Match, the rapidly expanding
digital marketplace for CRE financing
NEW YORK, Sept. 19, 2023 /PRNewswire/ -- Lev, the digital financing platform for commercial real estate, today announced the launch of Lev AI, a powerful set of features which have been rolled out across the company's recently-launched marketplace, Lev Match. While AI has been powering Lev Match's algorithm since launch, these new features will further accelerate and simplify the financing process for borrowers and lenders.
Borrowers can now harness Deal Room AI, a first-of-its-kind tool that automates the creation of digital deal materials. Deal Room AI uses a sponsor's existing documents, from an underwriting model or investment sales memorandum through to basic property information and a couple of descriptive sentences, to instantly create a complete set of deal materials. By automating the creation of deal materials, borrowers save substantial time and lenders receive consistently formatted information, which helps speed up the financing process.
"The most high-quality sponsors want to spend time finding the right deals and executing on their business plans; they don't want to spend time writing market summaries for lenders to review," said Yaakov Zar, Lev's co-founder and CEO. "Deal Room AI takes the data borrowers already have and uses it to instantly create a complete package of materials. It's a huge time saver and ensures borrowers increase their ability to secure favorable terms."
After a deal is launched, lenders can use Ask AI to get their deal questions answered instantly. Ask AI uses deal documents and third-party data sources to return answers and supporting materials to lender questions in real-time. In the event that an answer is not found, Ask AI will automatically generate messages that the lender can send to the sponsor.
Lev's new AI features are being released at a time of rapid growth for Lev Match. The invite-only platform was officially launched in May 2023 and more than a hundred top-tier sponsors have joined the platform and are actively launching deals. Multifamily investor Terra Capital has launched multiple deals through Lev Match and their CEO Ray Heimann recently commented on closing their first deal through the platform:
"Lev Match has taken old, established debt financing workflows and turned them on their head. The platform is easy to use, highly effective, and has changed the way we go about financing our deals."
Lev is a venture-backed digital commercial real estate financing platform. At the heart of the Lev platform is Lev Match, the industry's first CRE debt financing marketplace, which uses AI to instantly connect the right lenders with the right borrowers. Founded in 2019, Lev has raised over $100 million in funding from Parker89, Cross River Digital Ventures, NFX, StepStone Group, Canaan Partners, JLL Spark, Animo Ventures and Ludlow Ventures, among others. For more information, visit lev.co.
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