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Spreadsheets & BI

ARGUS Enterprise + ATALI ELECTRIC

Import cash flow, rent roll and valuation reports exported from ARGUS Enterprise so your existing underwriting model informs the appeal's income approach.

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ARGUS Enterprise logoXLSX upload

How it works

ARGUS Enterprise, from Altus Group, is the cash flow and valuation model many owners, lenders and appraisers maintain for each commercial asset. Report Packages in ARGUS Enterprise export a project's reports to Excel, and ATALI ELECTRIC reads those exports: the annual cash flow, the rent roll and tenancy detail, and the valuation summary. ATALI ELECTRIC does not open native ARGUS files, does not run the ARGUS calculation engine and holds no Altus Group partnership.

An ARGUS model is built for acquisition and hold decisions, not for an assessment date, so the import treats it as a starting point. Projected years are set aside in favor of the year that matches the valuation date, market leasing assumptions are compared with the rent roll, and the model's discount and terminal cap rates are kept separate from the loaded capitalization rate used for property tax, where the effective tax rate is added to the base rate and real estate taxes are removed from expenses.

Authentication
XLSX upload
Sync cadence
On demand, each time an export is uploaded

Data flows

  • Annual cash flow InboundPotential gross revenue, absorption and turnover vacancy, expense recoveries, operating expenses, NOI, leasing costs and capital reserves by year, exported to Excel.
  • Rent roll and tenancy detail InboundTenant, area, lease dates, current rent and recovery structure from the exported rent roll reports.
  • Market leasing assumptions InboundMarket rent, renewal probability, downtime, free rent, tenant improvements and leasing commissions used to test the assessor's income model.
  • Valuation summary InboundDirect capitalization and discounted cash flow results, with cap and discount rates, kept as a reference beside the tax-specific valuation.
  • Tax-year income reconciliation OutboundXLSX workbook reconciling the ARGUS year-one NOI to the normalized, tax-loaded NOI used in the evidence binder.

Field mapping

ARGUS EnterpriseATALI ELECTRIC
  • Potential Gross RevenuePotential gross income
  • General Vacancy / Absorption & Turnover VacancyVacancy and collection loss
  • Total Expense RecoveriesExpense reimbursements
  • Total Operating ExpensesOperating expenses (taxes removed for loaded cap rate)
  • Net Operating IncomeModel NOI (reference)
  • Tenant Improvements / Leasing CommissionsLeasing cost reserves
  • Capital ReservesReplacement reserves
  • Direct Cap RateModel cap rate (reference)

Set up in 4 steps

  1. 1In ARGUS Enterprise, create a Report Package that includes the cash flow, rent roll and valuation reports.
  2. 2Select the project in its portfolio and export the Report Package to Excel.
  3. 3Upload the workbook to the parcel in ATALI ELECTRIC and choose the analysis year that matches the valuation date.
  4. 4Confirm the line-item mapping on the first upload; the mapping is saved for later exports from the same Report Package.

Used for

  • →Reconciling an asset manager's ARGUS hold model to the income approach for a Class A office tower appeal.
  • →Testing the assessor's market rent and vacancy against the leasing assumptions the owner underwrites to.
  • →Explaining to a review board why an acquisition cap rate differs from the loaded tax capitalization rate.
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Stop overpaying commercial property tax on a flawed mass appraisal.

Upload an assessment notice. ATALI ELECTRIC returns a valuation audit and comp analysis in about two minutes.

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