About this video
Three deal documents in, every vendor claim rebuilt from source, and the buried break notice caught before the IC meeting instead of in it.
Treverton Commercial Trust screens Kelverton Tower, a S$400m off-market Singapore office acquisition offered by Halworth Asia Advisory for Carradale Asia Real Estate Fund IV. Ellie's Deal Pack Tie-Out skill rebuilds every IM claim from the tenancy schedule and T-12 with page-level citations, then surfaces three defects the vendor's numbers were hiding: a break notice buried in Appendix C note 7 worth ~S$85m at the vendor's own cap rate, a WALE quoted on an undeclared basis (4.5 years by income, not 5.3), and a levered IRR manufactured by a 25bps exit-cap assumption. The deal is scored against Treverton's mandate (negative leverage flagged) and the IC screening memo is drafted with an indicative offer range, every figure cited to source.
- Every IM claim recomputed from source with page-level citations, never quoted from the brochure
- The Appendix C break notice the headline NPI ignores: yield 2.8 percent, not 3.6
- WALE by income versus by area surfaced explicitly, against the mandate's basis
- 267bps of the claimed IRR is a single exit-cap assumption; held flat the return is 10 percent
- Verdict scored against the buyer's mandate and an IC memo drafted with a revised-basis offer range