Real
Estate

Otso Partners with Blackstone/Shopcore

By
Otso Team
January 31, 2024
5 minute read
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Revolutionizing Commercial Real Estate: Otso's Innovative Partnership with ShopCore

Introduction:

In the dynamic world of commercial real estate, efficiency and security in leasing processes are paramount. That's where Otso comes into play, revolutionizing the way financial reviews are conducted for prospective tenancies. Our recent collaboration with ShopCore, a Blackstone affiliate, is a testament to this transformation.

The Challenge:

Traditionally, the commercial leasing sector has grappled with lengthy turnaround times for financial reviews, often stretching up to 30 days per deal. This sluggish pace not only hampers deal velocity but also impacts tenant satisfaction and poses security risks due to non-secure information collection methods.

Enter Otso:

Otso’s innovative Underwriting-as-a-Service (UaaS) platform is changing the game. By combining highly secure collection methods with unparalleled speed, UaaS enhances leasing velocity, manages risk, and provides comprehensive insights. Our AI-driven platform leverages cash management history, credit backgrounds, and company histories to offer CRE-specific ratings and predictive techniques.

The ShopCore Synergy:

ShopCore, with its impressive portfolio of over 20 million square feet across 108 properties in 15 states, is an ideal partner for Otso. Since our trial commencement in August 2023, we’ve processed more than 50 financial reviews for ShopCore’s retail portfolio, drastically reducing the review time by 27 days per prospect. This not only sped up the leasing process but also bolstered the security and thoroughness of information collection.

Impact and Future Outlook:

This partnership has ushered in a new era of efficiency in commercial leasing. ShopCore, under the leadership of industry veterans like Lauren Holden and Jessica Zaski, recognizes the value Otso brings to the table. With Otso now handling all financial reviews for ShopCore’s retail leasing activities, we're set to see a significant uptick in leasing efficiency and tenant satisfaction.

Conclusion:

Otso’s collaboration with ShopCore is more than a business partnership; it’s a step towards redefining industry standards in commercial real estate leasing. We’re not just accelerating processes; we’re setting new benchmarks for operational excellence and customer satisfaction.

Discover the Otso Advantage

Unlock the power of AI-driven underwriting for faster, smarter leasing decisions.

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