What we look for when underwriting commercial properties

Commercial real estate is where the traditional private market has the clearest information asymmetry. Institutional buyers have insight that retail investors never see. Tokenization doesn't fix that gap automatically — our underwriting does.

The five checks

1. Title integrity. Clean chain of title, no clouds, no pending litigation. Verified by third-party counsel.
2. Tenant quality. Long-term corporate lessees with audited financials. No short-term upside trades.
3. Cashflow margin. Net operating income must cover debt service at stressed rates + 20%.
4. Capex horizon. Roof, HVAC, structural — all modeled 10 years out with funded reserves.
5. Exit pathway. A clear thesis on who buys the property at maturity and at what cap rate.

Only deals that pass all five enter the XDRIP Property Group protocol. Token holders see the underwriting memo, the lease abstracts, and the reserve schedule at the moment of issuance.