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From the team

A stack of spreadsheet, PDF and workbook files with data flowing across into a single Pantera model showing a cash flow chart and a check that it matches the source

Oct 202612 min readMigrating from ARGUS, KEL or Forbury to PanteraMoving to a new modelling platform shouldn’t mean starting from scratch.Read the article

Four stacked promote bands separated by IRR hurdles at 8%, 12% and 15%, the sponsor’s promote slice widening from nothing in the lowest band to 30% in the highest

Sep 20268 min readPreferred returns, catch-ups and promotes: understanding the real estate equity waterfallHow preferred returns, catch-ups and promote tiers determine who gets paid what from a real estate investment, and why two apparently similar structures can produce very different returns.Read the article

Sep 20265 min readCustomer story: Blending an investment into a development, in one modelHow Urban Reset combined investment and development underwriting in one model, saving time on complex appraisals and client reporting.Read the article

Aug 20268 min readCustomer story: Pantera has changed the way we workHow Avison Young’s capital markets team went from an hour of model setup to under a minute, and put senior time back in front of clients.Read the article

Horizontal AI drawn as one shallow band spread across every industry, beside vertical AI drawn as a deep stack of property-specific layers: leases, reviews, breaks, yields, cashflow

Jul 202612 min readWhy Vertical AI is best for property firms88% of investors are piloting AI; only 5% have hit their goals. The case for purpose-built systems over generic copilots.Read the article

Two return curves rising from the same set of cashflows, the geared curve at 18.4% climbing steeper than the ungeared curve at 9.1%, with the leverage gap shaded between them

Mar 20266 min readGeared vs ungeared IRR: what the difference reveals about a dealTwo versions of the same return metric. The gap between them tells you more about a deal than either number does alone.Read the article

Feb 20267 min readUnderstanding equivalent yield in commercial property valuationsWhat equivalent yield means, why it sits between the initial and reversionary yields, and why it is so much harder to calculate on a real building than a textbook one.Read the article

Jan 20264 min readCustomer story: from checking the model to challenging the assumptionsIGIS Europe, the London investment platform of South Korea’s largest real estate asset manager, on reviewing deals faster and sharing live numbers with counterparties.Read the article

AWARE Scotland young people and volunteers in a group photo on the shore of Loch an Eilein

Dec 20252 min readAWARE ScotlandWe’re proud to support AWARE Scotland, a Glasgow charity creating inclusive experiences that build confidence, friendships, and a sense of belonging for young people.Read the article

A distribution waterfall cascading through four tiers: return of capital and an 8% preferred return going wholly to the limited partner, then a GP catch-up and a residual split carrying a 20% promote

Aug 20258 min readUnderstanding equity waterfalls and promote structures in real estate fundsHow distributions are split between limited and general partners, what a promote actually pays for, and why the tier definitions matter more than the headline split.Read the article

From left: Alex Wilson, Caleb Dunn, Bik Bhuptani, Paul Simmons and Jack Hammond

Aug 20243 min readPantera raises further funding as Greenridge takes a stakeGreenridge Investment Management has invested in Pantera as the company raises additional funds to develop its AI capabilities and grow the business.Read the article