All, noticed recently that debt teams at some of the big banks (Citi, MS, JPM, etc.) don't use Argus and instead model big office deals in Excel. Very frustrating to receive those materials from them. Does anyone know why they don't use Argus, just out of curiosity?
Curious what capacity you're receiving materials like this from a Bank? I worked on the lending side for two years and never sent our internal UW to anyone. To try and answer your question, we usually just viewed excel as a much faster way to U/W than in ARGUS. Usually, in lending, you need a decision much faster than on the equity side, so this helps to speed up the process. Also on the BS side of things focus is more on the Credit of the Owner and Tenants, rather than the complex lease rollover that Argus excels at.
Underwrite, sure, but I cannot for the life of me imagine a multi-tenant scenario in which it is easier to lay out lease rolls/cam recs/etc in excel rather than in Argus first and then export to a dcf model. I have no exposure to the lender side so not challenging you on this at all, but it's mind-boggling to me haha.
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The bank guys in NYC we work with use Argus (BoA, Chase, M&T, Citi private). Its not unusual for mid sized banks to not have an Argus subscription.
That is extremely strange... You’re making your life harder and your potential client’s life harder to save thousands of dollars lmao
Yeah I've worked with 3-4 groups at the banks listed above in the last 6 months who do complex office modeling 100% in excel.... its a nightmare
Can confirm WF in both BS and CMBS does not use ARGUS. (This is in CLT not sure about NYC).
Curious what capacity you're receiving materials like this from a Bank? I worked on the lending side for two years and never sent our internal UW to anyone. To try and answer your question, we usually just viewed excel as a much faster way to U/W than in ARGUS. Usually, in lending, you need a decision much faster than on the equity side, so this helps to speed up the process. Also on the BS side of things focus is more on the Credit of the Owner and Tenants, rather than the complex lease rollover that Argus excels at.
Underwrite, sure, but I cannot for the life of me imagine a multi-tenant scenario in which it is easier to lay out lease rolls/cam recs/etc in excel rather than in Argus first and then export to a dcf model. I have no exposure to the lender side so not challenging you on this at all, but it's mind-boggling to me haha.
Odit est earum exercitationem asperiores cumque minima. Ex et vel nihil sed. Et et exercitationem qui consequatur repellat vero corrupti.
Vero voluptatibus neque voluptate dolorum deleniti. Aut molestias velit reprehenderit itaque cupiditate sapiente et quo. Consectetur voluptas et architecto aut commodi excepturi dolorem. Omnis nihil vel totam. Beatae molestias sed eum dicta. Sequi fugiat inventore quia dolore et est.
Exercitationem non aut sit quia enim ad earum et. Et quia fuga aut non esse nemo hic quas. Praesentium aliquam aut explicabo sunt quidem enim.
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