Investment approach
Evidence-based property underwriting
Every key number needs a source, date and review trigger. A document, market observation and assumption are not equivalent.
Academic research is useful because it exposes data, method and limitations. Property underwriting can apply the same discipline.
Three information states
A fact is supported by a document. An observation comes from comparables or market data. An assumption estimates timing, rent or exit. Mixing them creates false certainty.
An evidence matrix records value, source, date and review trigger. The investment memo summarises the decision, while due diligence validates documents.
A transit paper does not price one street. An EPC study does not award a premium. External evidence ends in a local check or a wider range.
Funnel
A user can move from the Investor Data Hub to calculator, Deal Analysis and a meeting. DNPI qualifies the case without promising a return.
Research anchor
DNPI Capital is not a fund or financial adviser.
Questions and answers
What is an evidence matrix?
A table of values with source, date and review rule.
Can a study replace a comparable?
No. It explains a mechanism and requires local data.
When should an assumption be excluded?
When it is critical, unverifiable and creates false precision.
