KEELMARK
========

One line: Audits ARGUS® models against the deal documents.

Audience: acquisitions and asset management teams at institutional CRE
shops (pensions, REITs, REPE, asset managers) that underwrite deals
arriving with ARGUS files.

WHAT IT DOES
------------
Keelmark reads the ARGUS export and checks every assumption against the leases, the T-12, and current market data. You see every finding cited to the page it came from, and what each discrepancy does to your valuation.

THE VERDICTS
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- Verified: The documents back the number.
- Discrepancy: The documents say otherwise. You pick the truth.
- Unsupported: The ARGUS model states it. No document backs it.
- Missing: The documents show it. The model leaves it out.

WHY TEAMS RUN IT
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- Save hours on every deal. The audit does the page-by-page read of the data room and checks the file against it, in hours instead of analyst-days. Your team starts from cited findings, not from page one.
- Catch the expensive miss early. A termination option sitting in a signed lease. Recoveries set to net when the lease says gross. Found while the deal is being priced, not after close.
- Screen faster, decide with confidence. Quicker first reads on inbound packages, and every number in the memo traces to a document page when committee asks.

EXAMPLE FINDINGS (from Keelmark test deals)
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- [Missing] A termination option in the signed lease. Not in the ARGUS file. (source: Signed lease)
- [Discrepancy] Recoveries set to net. The lease says gross with an expense stop. (source: Lease, recovery clause)
- [Unsupported] A cash flow that cannot be rebuilt from the file's own stated assumptions. Something was overridden by hand. (source: Tie-out)

HOW IT WORKS
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01. Send the deal: The ARGUS export and the data room. Leases, amendments, T-12, budget, OM.
02. Keelmark audits the file: Each assumption is checked against the documents and current market data. Each verdict links to its source. A tie-out flags anything the stated assumptions cannot explain.
03. See what it moves: Each discrepancy is priced in NOI and value. The memo lands as a PDF. Anything the documents could not support is named, not guessed.
Nothing gets replaced. Your ARGUS model stays, your Excel model stays, and your team approves every verdict before it lands in the memo.

FIRST TEST
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Pick a deal your team closed or passed on. Send the ARGUS export and the data room. Keelmark returns the audit memo. Grade it against what your team found the hard way. If it holds up, we run a live one.

COMPANY STAGE
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Early stage and honest about it: the product is live, audits are being
tested with a small first group of firms, and there are no public
customer references yet. The first-test offer above is how Keelmark
earns trust: send a past deal, grade the memo against what your team
already knows.

CONTACT
-------
Request a past-deal audit: https://keelmark.ai/#test-form

LEGAL
-----
ARGUS® and ARGUS Enterprise® are either registered trademarks or trademarks of Altus Group and/or its subsidiaries in the United States and/or other countries. Keelmark reads ARGUS file exports and is not affiliated with, endorsed by, or sponsored by Altus Group.

Also served at /llms.txt