Plain-language explainer

A passport for a building — so anyone can trust its numbers

A person has a passport that proves who they are. A property doesn’t — its story is scattered across PDFs, spreadsheets and e-mails, so every bank, buyer or investor has to verify it from scratch. Cubesto builds a single, verifiable passport for a property: it gathers the documents, gives the data meaning, links it to the money the building earns, and seals every change so no one can quietly rewrite history. The result is a building whose value can be checked in hours — and, when the rules allow, traded.

The big picture

How information flows through Cubesto

INPUTS CUBESTO — THE DATA & TRUST LAYER OUTPUTS Documents & contracts leases, valuations, permits (PDF, scans) Leases & finance rent, costs, capital structure FacilityUp operational · energy · ESG · OPEX Property passport 7 semantic layers + AI-ready score AI dataroom (RAG) extraction + grounded answers Trust ledger hash-chain seal of every change Valuation & NOI income → value Bank / financing PDF passport · LTV · DSCR Tokenization engine ERC-3643 → investors Layer A — Cubesto no licence required Layer B — licensed engine KYC/AML · custody · secondary market Data comes in from documents, leases and operational systems. Cubesto turns it into a verifiable passport with a valuation. The verified package then flows out to banks, buyers and — via a licensed engine — to tokenized investors.
Step by step

The journey of one building

1 · Gather

Upload documents to the dataroom. AI reads them and proposes fields for the passport — you confirm.

2 · Give it meaning

Data is sorted into 7 layers (legal, technical, leases, finance, valuation, ESG, identity). Coverage becomes an “AI-ready score”.

3 · Link to money

Leases drive NOI; NOI and yield give the value; debt gives LTV and DSCR — the numbers a bank actually checks.

4 · Seal it

Every change is written into the trust ledger as a chained fingerprint (hash). Tampering breaks the chain visibly.

5 · Share or tokenize

Export a PDF passport for a bank/buyer, or hand a verified package to a licensed engine that issues tokens to investors.

Glossary

Terms & abbreviations, in plain words

Property passport
A single, verifiable record of a property’s whole story — legal, technical, leases, finance, valuation, ESG.
NOI
Net Operating Income — rent minus operating costs. The core “profit” of a building per year.
Yield / cap rate
The return rate used to turn NOI into a value: Value = NOI ÷ yield. Lower yield = higher value.
WALT
Weighted Average Lease Term — how many years, on average (weighted by rent), the tenants are still committed.
LTV
Loan-to-Value — loan ÷ property value. Banks usually cap it around 60–70 %.
DSCR
Debt Service Coverage Ratio — NOI ÷ annual debt payment. Above ~1.25× is comfortable for lenders.
Debt yield
NOI ÷ loan. A rate-independent risk check; lenders typically want ≥ 8–10 %.
EBITDA
Earnings before interest, tax, depreciation & amortization — a profitability measure used in the SPV model.
TIC
Total Investment Cost — land + soft + hard costs of the project.
SPV
Special Purpose Vehicle — a company set up to hold one property; the token represents a stake in it.
Tranche A
Only in the asset-token mode outside a fund, after legal review: the capital gap after own funds and bank debt. Not used when a fund owns the SPV.
RAG
Retrieval-Augmented Generation — the AI answers only from your documents, with sources, so it doesn’t invent facts.
Trust ledger
A tamper-evident history: each entry is fingerprinted and chained to the previous one (hash-chain).
Hash
A short fingerprint of data. Change one character and the fingerprint changes — that’s how tampering shows.
Tokenization
Representing ownership as digital tokens, enabling fractional investment and faster transfer.
ERC-3643
The leading standard for compliant (permissioned) real-world-asset tokens; KYC/compliance built in.
KYC / AML
Know Your Customer / Anti-Money-Laundering — identity and origin-of-funds checks required by law.
MiCA / MiFID
EU regulatory frameworks for crypto-assets and financial instruments.
EPC
Energy Performance Certificate — the building’s energy rating (e.g. A1).
ESG
Environmental, Social, Governance — sustainability metrics that increasingly affect value and financing.
GLA
Gross Leasable Area — the rentable floor area of the building.
bps
Basis points — 0.01 %. “15 bps” = 0.15 %.
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