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Cactus

New in Cactus

Product changelog

What changed in Cactus, what it means in the workflow, and what you can use now. Product improvements only, without internal release noise.

See where your numbers come from

Source trails are easier to inspect, cash-flow analysis is easier to navigate, and more context carries into Excel.

SourcesAnalysisExports

Source trails you can inspect

  • Every value now shows its source, whether it came from your document, a data partner, or an estimate. The reasoning sits beside it, and you can override the value.
  • Citations open directly to the page they came from, with the supporting quote highlighted. Reopen or rerun an existing analysis to add this to an older deal.

Cleaner analysis and exports

  • Long cash-flow tables now collapse by section, so you can move straight to the part you need.
  • You can choose a Basic or Advanced view when you start a financial analysis.
  • Excel exports now carry the AI summary, risks, and assumptions on the executive summary sheet.

More reliable models, timelines, and data entry

Extracted values stay in place, Sage changes reach the model, and common underwriting inputs behave more predictably.

DocumentsSageModeling

Your documents keep the numbers they extracted

  • Starting a financial analysis from documents no longer replaces extracted values with system defaults.
  • When the system matches a field, the reasoning behind the match now appears beside its confidence level.

Sage does what it says

  • Sage carries your conversation between pages instead of starting over.
  • When Sage proposes a change and you accept it, the change now lands in your model.
  • Sage handles quick rent-basis and unit conversions, and reads rents per square foot on the correct time basis.

Numbers and KPIs

  • Running a calculation returns NOI and cash flow once all sections are complete.
  • Closing costs on acquisitions calculate correctly.
  • Switching a revenue line to Per Occupied Unit keeps its effective amount instead of dropping to zero.
  • The partnership section no longer says fields are missing after you have filled them.
  • The rental-revenue chart now shows how gross rent steps down to net.

Timelines and milestones

  • Project milestones appear in timeline dropdowns where you need them, and timelines stay consistent across views.
  • Income and expense dropdowns show the month a milestone starts and how long it runs.
  • Milestone dates show in full, with the month count beside them.

Easier data entry

  • Running subtotals appear as you type in income and expense dialogs.
  • Rent growth is available in the basic unit-mix view.
  • Undo restores a value you just deleted.
  • US deals display in square feet throughout, including unit mix.
  • Abbreviations such as GBA and NRA are spelled out.
  • Account creation now states the password requirement and accepts newer domain endings such as .partners.

Use your own structure and bring your own comps

Document analysis now respects your categories, deal overviews open progressively, and outside comps can sit beside Cactus comps.

DocumentsCompsDeal setup

Documents and your own structure

  • When you start from documents, your structure leads. Figures from your files are reasoned into the categories you already use, and anything that does not fit is added instead of dropped.
  • Standard default values no longer get written into an analysis built from documents. They apply only when you start from scratch.

Deal overview

  • The overview opens as soon as you reach it and fills in section by section instead of waiting for every input to be complete.
  • Sections that still need information tell you which inputs are missing and link directly to where you enter them.
  • Required fields adapt to the deal. Partnership and financing inputs only gate the analysis when the deal uses them.

Comps and financing inputs

  • You can upload a CoStar CSV or enter properties by hand. Your comps sit beside the comps Cactus sources for you.
  • The seller-financing start field is now Loan Start. Choose the project milestone when the loan begins, with a tooltip that explains the field.

Reporting an issue

  • Help Us Improve now captures the page, browser, and app version with your report, so the team gets enough context to act without another round of questions.

A more reliable document-to-model workflow

Document extraction, Sage, KPIs, comps, timelines, and everyday navigation received a focused reliability pass.

ExtractionSageComps

Your documents turn into a model more reliably

  • After an upload, a summary shows exactly what Cactus captured from your documents.
  • Values from your documents now populate income and expense rows more reliably.
  • Live progress and an ETA appear while documents are read and fields are matched.
  • Concessions are pulled from documents alongside the other rent-roll figures.
  • Expense figures are read across the full statement, so values such as the management fee stay consistent.
  • The field-matching page has search, and a failed match now explains what happened and how to proceed.

Sage

  • Sage chat closes properly again.
  • Ask Sage reliably starts your prompt.
  • Sage keeps its text formatting clean and consistent.

Numbers and KPIs

  • Selecting cells in a percentage column now totals correctly.
  • Interest-only balloon loans no longer require a redundant amortization entry.
  • Partnership profit-split fields now show their explanatory tooltips.

Deal setup and timelines

  • All workflow steps stay visible without being hidden behind a scroll.
  • Reordering a timeline row updates the view immediately.

Comps, market analysis, and navigation

  • Comps no longer return empty with no way to widen the filters, and the comp page takes fewer clicks with clearer cards.
  • Comp selections stay in place when you leave the step, and picks from the map carry into the table.
  • Affordability in market analysis reflects the deal asset type.
  • Horizontal scrolling through the monthly table is smoother, the source viewer has a clear close button, and password reset requests go through reliably.

Clearer extraction confidence and a stronger Sage

More source values land correctly, assumptions are easier to distinguish, and your edits are less likely to disappear.

ExtractionSageInputs

Your documents turn into a model more reliably

  • Uploaded pro forma spreadsheets pull investment-cost figures into the deal.
  • Rent rolls populate unit counts, area, and rents on import.
  • Extraction picks up loss-to-lease and delinquency.
  • Smart Doc reads the property tax rate more accurately.
  • Show source opens the source document.
  • Comps and market data use the correct location even when a city name is ambiguous.

Extraction confidence is clearer

  • Confidence appears as High, Medium, or Low. Each value reflects the model confidence, while values filled from standard assumptions are labeled as assumptions.

Sage is more capable and reliable

  • Sage carries the deal context into Market Analysis and keeps your chat history when you navigate away.
  • Sage interprets cap rates, DSCR, and debt yield using real-estate conventions instead of generic guesses.
  • Percentages you ask Sage to set are applied exactly as entered.

Numbers, financing, and inputs

  • Financing amounts stay in place instead of disappearing.
  • The waterfall promote-to-GP field displays properly.
  • A typed value survives a decision-type change, a unit-mix edit, a switch between Basic and Advanced view, or a multi-cell save.

Cleaner deal setup

  • Opening a Financial Analysis takes you directly to the workflow instead of the map.
  • The deal timeline shows the hold period as its own bar and warns when milestones run past the exit.
  • Cell editing is easier to discover, and the forgot-password screen is clearer.

More reliable document parsing and safer deal changes

The first update in this series focused on getting documents into the model, keeping Sage on task, and correcting common deal-model edge cases.

DocumentsSageKPIs

Your documents turn into a model more reliably

  • Uploading documents now pulls financials into the deal more consistently, including deals that previously came back empty.
  • Document reading and field matching were rebuilt so figures land on the right lines with fewer surprises.

Sage is more focused and safer to use

  • Sage stays on the deal and its real-estate context instead of wandering off topic.
  • Sage can no longer change a deal address, asset type, or strategy from chat. Those values remain controlled in deal setup.

Numbers and KPI fixes

  • Partnership cards show the correct IRR, equity multiple, cash yield, and contributions.
  • DSCR shows two decimals, and Levered Cash Flow appears on the deal map.
  • Financing cards show explanatory tooltips for Total Debt, Equity Required, LTC, and Debt Yield.
  • Closing costs based on land price calculate correctly, and partnership equity contributions flow through as expected.

Other improvements

  • You can add multiple parcels to a single deal.
  • Input dropdowns show their full list of options.
  • The holding period is capped at 20 years to keep long projections valid.
  • A waterfall promote tier can model a promote paid as a percentage of total profit after the IRR hurdles.
  • Opening a deal no longer flashes a false No deal found state, and empty tables no longer show a doubled total row.

See it on a real deal

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