Customer Overview

Matheson Capital is a multifamily real estate investment firm based in Charleston, South Carolina. In 2022, they began to experience rapid growth and transitioned from an exclusively friends-and-family and high net worth investor base to attracting institutional capital as well. To make the transition successful, they needed a more robust underwriting solution than their existing multifamily underwriting software. While their current system satisfied their basic rent roll parsing needs, it lacked the intuitive modeling, market data, and the presentable outputs they needed to win over institutional capital providers.

Enter Archer, a modern underwriting platform designed specifically for the multifamily industry.

Challenge

Rudimentary Modeling

Previous underwriting model and systems lacked the detail and comprehensiveness to impress institutional investors. Previous systems provided excel rent roll and financial statement parsing, but still required tedious work to transfer data into a model they could share with potential partners.

Lack of Market Data

To present underwriting assumptions to investors, Matheson Capital had to rely on the manual process of researching comps from various sources, then painstakingly adjust their old model to reflect market conditions.

Need for Scale

To achieve their ambitious growth plans, the Matheson team needed a swift solution to their modeling needs so they could increase the volume of deals they could analyze and gain a competitive advantage over the competition.

Solution

Intuitive model

The user-friendly interface of Archer’s model provided all the detail required to streamline underwriting.

Investor-ready outputs

Professional and transparent models generated by Archer impressed the more sophisticated investors the Matheson team was trying to attract, fostering trust and facilitating deal flow.

Expedited Deal Sourcing & Screening

Archer’s time saving underwriting features allowed Matheson’s acquisitions team to screen more deals at a time where finding a quality investment opportunity had become challenging. Specifically, Archer’s comprehensive market, demographic, and property data allowed the investment team to screen deals that may have previously been passed on strictly due to capacity issues.

Key Deal

Matheson’s investment team expertly leveraged Archer to get their Residences at St. George deal under contract. The deal was sourced through a relationship with the seller, whom Matheson had previously closed a deal with just a few weeks prior. When they were approached, the property had fallen out of contract, and Matheson had a short exclusivity period to go from having never seen the deal to making an offer that would be accepted or the property would formally go back on market. 

Archer made Matheson’s quick turnaround possible and strengthened their confidence in the bid. The deal successfully closed in May 2024.