New Affordable CRE/CMBS Data Company
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[{"id": "dl6qlor", "text": "Where exactly is this data coming from? Regarding CMBS info, I refuse to believe a $50/Month service has as-robust a database as say Bloomberg or Trepp.", "replies": [{"id": "dl7pctz", "text": "Hi, I am the CEO of Rudolph Property Explorer and I am confident our data is as good as the much more expensive competition. This data is coming from publicly available (via SEC Edgar) CMBS disclosures. Check out the annex a 1 tables on a CMBS prospectus on the SEC website, like this one: https://www.sec.gov/Archives/edgar/data/1004158/000153949715000657/n474_prosx17.htm\n\nThis is the source for the loan, property, lease information etc... for all these services databases. Of course also the distribution reports. There are a few caveats - Rudolph Property Explorer is only pulling in the data starting from 2011 CMBS issuance (post financial crisis) and there are some reasons for that I am happy to discuss - like for instance, the last set of CMBS loans pre-crisis mature in the next 12 months and as a whole, become less relevant.  But that's still over 260 CMBS, info on over $500 billion in appraised property value, and more than $270 billion in CRE loans. \n\nIf you don't believe me, I'm happy to demo the service for you anytime you'd like! It also isn't very expensive to go try and find out for yourself (you pay month to month - you can cancel at anytime from your account settings) - no annual lock-ins or anything like that. I thought the huge opportunity in building this was to make this info more accessible to the average CRE professional instead of only firms that would shell out the money required for Bloomberg terminals.", "replies": [{"id": "dl7pj6k", "text": "Oh there are some other caveats: \n\nRudolph Property Explorer has zero information on the trading/pricing of actual CMBS - only the underlying assets. Fixed income traders will definitely need to stick with Trepp/Bloomberg like solutions. Rudolph Property Explorer is primarily trying to serve Lenders, Investors, and Brokers. \n\nAlso, we have no information on GSE/agency issued CMBS (which is just multifamily), as we would need to establish licensing agreement with Fannie and Freddie which isn't something we've looked too deeply into at this point.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dl86geo", "text": "I thought advertising wasn't allowed here? Anyways I'm very skeptical about a site like this, how could you afford to do something like this so much cheaper than your competition? I'll however look into it. ", "replies": [{"id": "dl87ew8", "text": "I get that advertising isn't wanted, but I saw other announcements of new products here, like Reonomy, and thought it wouldn't be a bad idea to tell this community about this tool. \n\nTo your skepticism: free demos for all who are skeptical. Will happily answer any questions you have. My biggest question when I started looking into to all of this was why hasn't anyone built a website where you can interact with this data that doesn't cost a fortune. By comparison to existing services, this is a bit like selling a car for $2,000 - what's wrong with it? But this isn't a car. Its software. And software has come a long way in the last 30 years. Trepp and Bloomberg's pricing? Not so much.", "replies": [], "depth": 2}], "depth": 1}]