Bid Envelope

Bid Envelope

Recommend a bid range (low / target / walk-away) with pricing sensitivities across exit cap rate, rent growth, vacancy, and capex scenarios.

Skills Invoked

• bid-strategy -- bid range methodology, competitive positioning
• underwriting-standards (core) -- pro forma for each scenario
• scenario-stress-testing -- sensitivity framework

Reads from Manifest

• underwriting/proforma.xlsx and underwriting/assumptions.json (from /underwrite-asset)

Writes to Manifest

• Directory: pricing/
• Files: bid-range.xlsx, sensitivity.csv
• Key metrics: bid_low, bid_target, bid_walk, target_irr, target_cap

Workflow

1. Load base-case underwriting from manifest (or build if not available)
2. Define bid-relevant scenarios: vary exit cap (+/- 25-50bp), rent growth (+/- 100bp), vacancy (+/- 200bp), capex (+/- 20%)
3. Run each scenario through underwriting-standards to get IRR / multiple
4. Invoke bid-strategy to frame competitive positioning and recommend range
5. Produce sensitivity matrix and bid recommendation
6. All return calculations via validated Python functions

QA Checklist

• Base case IRR matches underwriting output
• Bid walk-away corresponds to minimum acceptable return threshold
• Sensitivity range is realistic (not extreme swings)
• Competitive context considered (is this a widely marketed deal?)