Lease abstraction software
Abstract an entire lease portfolio in an afternoon.
Moraine extracts every business and legal term from commercial leases, with page-level citations back to the source, so your acquisitions team can close the diligence window before the lawyers finish redlining.
- • 97%+ field-level accuracy, confidence-scored per field
- • 12 minutes per lease vs. 48–96 hours outsourced
- • Retail, office, industrial, and ground leases supported
- Base rent (Yr 1)
- $32.50 / SF
- Step rent
- 3% annual
- Recovery
- NNN, 5% CAM cap
- Term
- 10 yrs + 2×5 options
- Co-tenancy
- Flag: 70% occ. trigger
- Exclusive use
- Coffee, 500 SF minimum
Every field links back to the page and paragraph in the source lease PDF.
How it works
Upload the leases
Drop in PDFs, one lease or a whole portfolio. Moraine handles scanned documents, redlines, and exhibits.
Abstract + audit
Every field extracts with a page citation. The platform cross-checks each lease against the rent roll and flags mismatches automatically.
Export to your model
Download Excel, push to ARGUS, or wire into your data warehouse. Every output carries the citation so your IC memo stands up in diligence review.
Every field a lease abstract should cover
Institutional-grade field set out of the box. Custom fields configurable per client.
Parties & premises
Landlord, tenant, guarantor, demised premises, building and suite numbers.
Term structure
Commencement, rent commencement, expiration, options to extend and notice windows.
Base rent schedule
Full step rent schedule with free-rent periods and concessions tracked per month.
Recoveries
CAM, tax, insurance: recovery method, caps, gross-ups, admin fees, exclusions.
Operating expenses
Expense stop, base year, pro-rata share, controllable vs. non-controllable caps.
Restrictions
Exclusive uses, co-tenancy, go-dark, radius, use restrictions, signage.
Options & rights
Options to extend, ROFO/ROFR, termination rights, expansion options, purchase options.
Landlord obligations
TI allowance, landlord work, repair and maintenance split, service standards.
Assignment & subletting
Consent standard, recapture rights, profit-sharing, affiliate carve-outs.
Defaults & remedies
Cure periods, late fees, acceleration, cross-default provisions.
Security & guaranty
Security deposit, letter of credit, personal and corporate guaranty terms.
Red flags
Automatic flagging of kick-out clauses, co-tenancy triggers, short-notice options, unusual recoveries.
Built for institutional buyers
Acquisitions
Before
Two analysts spending 80 hours abstracting 40 leases during a 30-day DD window, racing to get findings into the IC deck.
After
Upload the lease PDFs, get 40 field-level abstracts plus a rent roll audit and red-flag report in under 4 hours. Analyst time redirected to underwriting.
Asset Management
Before
No single source of truth for lease terms across the portfolio. Clauses are re-read every time a new question comes up: recoveries, co-tenancy, assignment.
After
Portfolio-wide structured lease data with search across every clause. Answer "which of our retail leases have co-tenancy triggers below 70% occupancy?" in seconds.
Lender-side diligence
Before
Outsourced abstraction vendor returns a spreadsheet with no source citations. QA requires a full re-read to verify.
After
Every field links back to the page and paragraph in the source lease. Verification is a 10-minute spot-check instead of a 2-day re-read.
Moraine vs. outsourced abstraction vs. manual
| Moraine | Outsourced service | Manual (in-house) | |
|---|---|---|---|
| Turnaround per lease | ~12 min | 48–96 hrs | 2–4 hrs analyst time |
| Cost per abstract | Fixed platform fee | $75–$250 | Analyst FTE load |
| Source citations | Yes, field-level | Rarely | Only if analyst adds them |
| Consistency across portfolio | Identical schema | Depends on analyst | Low |
| Rent-roll reconciliation | Automatic | Separate engagement | Separate workflow |
Security & data handling
Firm-level isolation
Every firm runs in an isolated tenant, with no shared indexes and no cross-tenant models. Your leases never touch another customer's data.
No training on your data
Lease content is never used to train shared models. Your data stays yours.
Encryption end-to-end
Leases are encrypted in transit and at rest. Access is scoped by firm, role, and deal.
SOC 2 Type II available
Compliance artifacts available on request for institutional review.
What to look for in lease abstraction software
Not every platform in this category does the same job. These are the capabilities that separate a genuine abstraction engine from OCR with a spreadsheet export.
Non-negotiable
AI extraction, not OCR
OCR turns an image into text. Abstraction identifies which text is the rent escalation and which is boilerplate. Those are different problems.
Amendment reconciliation
A lease and its six amendments are one economic agreement. The platform must present current effective terms, not a stack of documents.
Source citations
Every extracted value should link to the page and paragraph it came from. Without that, verification costs as much as manual abstraction did.
Structured, exportable output
Consistent schema across every lease, exportable to the model you actually underwrite in.
Separates the serious platforms
Cross-document validation
Abstracted lease terms checked against the rent roll, so discrepancies surface during diligence rather than after closing.
Red flag detection
Co-tenancy triggers, near-term expirations, unusual recovery language: flagged without being asked.
Batch processing
Portfolio-scale volume without per-document handholding.
Feeds the underwriting model
Lease data that lands in the cash flow model, not in a separate system you rekey from.
Choosing by use case
This category serves several different jobs. Moraine is built for one of them.
- Acquisitions diligence
- When abstraction exists to answer "should we buy this," extraction alone is not enough. Lease data has to reach tenant credit, recoveries, and the model. That is what Moraine is built for.
- Ongoing lease administration
- Tracking expirations, renewals, and stacking plans across a held portfolio is a lifecycle problem. Prophia, MRI, and Yardi are built for it; Moraine is not.
- Occasional one-off abstracts
- A handful of leases a month does not justify a platform. Per-export tools like LeaseLens cost less than any subscription.
- Portfolio migration at volume
- Thousands of leases for a migration or audit is an enterprise engagement. NTrust and MRI handle that scale.
Questions about lease abstraction software
Lease abstraction software extracts and structures the key business and legal terms from commercial lease agreements (parties, term, rent schedule, escalations, options, recoveries, and restrictions), so acquisitions and asset management teams can analyze a portfolio without reading every lease end-to-end.
Traditional outsourced lease abstraction takes 48–96 hours per lease at $75–$250 per abstract and requires a human QA pass. Moraine abstracts a 60-page retail lease in under 12 minutes with field-level citations back to the source document, and flags ambiguous clauses for human review instead of silently guessing.
Parties, demised premises, commencement, expiration, options to extend, base rent schedule (including step rents), free-rent periods, concessions, CAM / tax / insurance recovery method, recovery caps and gross-ups, security deposit, guaranty, assignment and subletting rules, go-dark and co-tenancy clauses, exclusive uses, radius restrictions, ROFO/ROFR, and termination rights.
For a single lease you can still use an Excel lease abstract template (we publish one for free). The platform replaces the template when you have a portfolio: uploading 40 leases produces 40 abstracts with consistent fields, plus a rent roll audit that ties each abstract back to the accounting records.
Every field Moraine extracts is linked to a page and paragraph in the source PDF, so reviewers can verify in seconds. Independent benchmarks on 500 retail and industrial leases show field-level accuracy above 97% on structured fields (rent, term, recoveries) and above 92% on unstructured clauses (exclusives, co-tenancy). We surface confidence scores on every field.
Yes. Moraine handles retail (percentage rent, co-tenancy, exclusives), office (direct and sublease, expansion options, operating-expense recoveries), industrial (NNN with CAM caps, CPI escalators, termination rights), and ground leases (reversion, subordination, leasehold mortgagee protection).
The terms are used interchangeably. 'Lease abstraction' is the process of summarizing key lease terms; 'lease abstract software' is the tooling that automates it. Same category.
Scanned documents, yes, including leases with handwritten annotations. Accuracy tracks document quality: a clean digital PDF abstracts more reliably than a faxed copy of a photocopy.
Minutes for a single lease. A 50-lease portfolio typically completes in under an hour, against days or weeks for manual abstraction.
Moraine is priced by deal, not by lease count. A mid-market acquisitions firm running 15–25 deals per year typically pays less than what a single outsourced abstraction vendor invoices for one 200-lease portfolio. Contact us for a quote on your pipeline.
Every firm runs in an isolated tenant, with no shared indexes and no cross-tenant models. Leases are encrypted at rest, access is firm-scoped, and no lease content is used to train shared models. SOC 2 Type II available on request.
See it on your portfolio
Upload 10 leases and we'll deliver the abstracts within 24 hours. No commitment.