How Waterstone Properties Group Reduced Transaction and Management Diligence From Days to Minutes

About Waterstone

Waterstone Properties Group is a privately owned real estate development firm with a diverse portfolio of properties in the United States totaling over 7 million square feet across 50+ properties. Specializing in the creation of retail shopping centers, mixed-use properties, corporate headquarters buildings and campuses, and medical facilities.

From messy Dropbox chaos to a clean, decision-ready snapshot

Acquisition packages typically arrive as 30+ leases buried in inconsistent folders, each with a chain of amendments that takes days to reconcile. Prismera removed that friction. Waterstone now drags in the entire folder and immediately sees a tenant-sorted, amendment-matched view of the deal.

Instead of burning time auditing filenames, Cameron's team jumps straight to evaluating risk, economics, and deal viability. It compresses the "baseline understanding" step from days to minutes.

"It has completely changed the game for us to be able to, within a matter of seconds, get an understanding of what types of leases we're dealing with at a new property and quickly spot patterns across tenants. This has allowed our team to put together pro forma budgets much more efficiently and has given our operations team the opportunity to hone in on property expenses rather than having to comb through tens of leases just to understand the income side of the budget." — Cameron Carlson

Acquisitions to property management: a clean handoff

Once Waterstone closes a deal, the property management team inherits those same leases, but typically without the context the acquisitions team built over weeks. Cameron sits directly between both sides, so he sees how much gets lost in translation.

With Prismera's organized structure, property management no longer gets a blind handoff. Instead, they get a structured, searchable view that mirrors what acquisitions saw on day one. This eliminates the typical onboarding lag and reduces operational risk in the first 90 days of ownership.

"Having leases abstracted that quickly allows each department to focus on the parts of the lease that pertain to them, rather than all communication about lease terms needing to flow through the individual person who is abstracting them. Whether it be something as simple as lease end dates and option periods for leasing to be aware of, insurance requirements for property management to be aware of, or CAM caps or exclusions for our finance team to plug into their model, it's all done so swiftly and neatly that it allows everyone involved in the acquisition process to move faster and have fewer niche lease clauses missed." — Cameron Carlson

Scaling the acquisition pipeline without hiring more analysts

Time is the ultimate constraint for Cameron's team. Every messy seller folder historically meant slower underwriting, delayed IC prep, and limited bandwidth to evaluate more opportunities.

By compressing multi-day review cycles into minutes, Waterstone increases the number of deals they can look at without adding headcount. That speed compounds into more bids placed, better negotiation leverage, and a tighter feedback loop across the portfolio.

"Prismera provides almost the same benefits as another employee without actually having to hire someone. It allows us to look at significantly more deals at once and be more thorough while evaluating each one. This has helped us to not only better manage the leases in our existing portfolio, but it also gives us more insight into a new acquisition before we even begin our ownership. It also doesn't hurt that the platform has a terrific chat feature that allows you to literally ask Prismera what a certain lease clause says or where it would be found in the document. So much for digging through page after page looking for what you need!" — Cameron Carlson