SOW · 04.10.2026 · v1.0

Synergy Development
Operational Intelligence Platform

A custom-built deal intelligence and execution system for industrial real estate acquisition across the Mountain West and Southwest — designed, built, and deployed by TFSF Ventures in four weeks, powered by Pulse AI.

CLIENT
Synergy Development
OPERATOR
Steve Urry
BUILD WINDOW
4 Weeks
GO-LIVE
May 18, 2026
PULSE
AI

Powered by Pulse AI

Synergy's platform runs on Pulse AI — TFSF's proprietary intelligence layer deployed across every venture build. Pulse AI monitors your five-state footprint 24/7, qualifies leads against your acquisition criteria, builds bank relationships, and feeds your pipeline so your team operates on signal, not noise.

01 · HOW IT WORKS

A single deal lifecycle, end to end

Five operational pillars, one continuous flow. Pulse AI moves every lead through the full sequence automatically — sourced, qualified, underwritten, surfaced, executed.

7 listing platforms scanned overnight
PILLAR 01
Source
7 platforms · daily
Custom model — levered + unlevered
PILLAR 02
Underwrite
29% IRR target
Bank outreach — 7-day cadence, 3 touches
PILLAR 03
Outreach
Banks · NPL · REO
9 site filters auto-reject bad fits
PILLAR 04
Qualify
9 site filters
Pipeline from LOI through disposition
PILLAR 05
Execute
LOI → close → exit
02 · THE TRANSFORMATION

Today vs. May 18

Today, deal sourcing at Synergy is a 2–3 person manual operation across seven platforms with no formal CRM. Four weeks from now, that all runs on rails.

TODAY · APRIL 10
Manual & Reactive
  • 2–3 people splitting sourcing duties
  • Refreshing 7 platforms by hand
  • No formal CRM or pipeline tracking
  • No automated underwriting model
  • NPL and REO opportunities found by accident
→
DAY 30 · MAY 18
Automated & Proactive
  • Pulse AI scanning your footprint 24/7
  • Daily overnight batch of qualified leads
  • Custom underwriting on every deal in seconds
  • Bank outreach engine on a 7-day cadence
  • Single pipeline view, three logins, daily summary
03 · ACQUISITION PROFILE

Synergy's buy-box, codified

Every criterion from the intake is locked into the platform on Day 1. Pulse AI uses this profile to score, qualify, and reject every lead it sees. Tunable on the Friday Week 01 checkpoint.

GEOGRAPHY
Five-State Industrial Footprint
Synergy targets industrial real estate across the Mountain West and Southwest growth corridor, focused on six high-demand MSAs. Markets under 100,000 population are excluded — no rural deals, no metros without exit-grade demand fundamentals.
STATES
Utah · Nevada · Idaho · Colorado · Arizona
PRIORITY MSAs
Salt Lake · Phoenix · Boise · Denver · Las Vegas · Reno
EXCLUSION
Population under 100,000 — auto-reject
DEAL SIZE
~$5,000,000 target
CATEGORY A · PRIORITY 1
Distressed Industrial Buildings
The top of the acquisition stack. Pulse AI hunts industrial buildings 35,000 sq ft and up, built after 2000, in I-1, Flex/Mixed-Use Industrial, or commercial-with-industrial-conversion zoning. Vacant or tenant-occupied — pricing dictates fit. Target is 20%+ below replacement cost; market-rate deals also qualify if the underwriting clears.
MIN BUILDING SIZE
35,000 sq ft
YEAR BUILT
After 2000 only
CLEAR HEIGHT
20 ft minimum
LOADING
Dock OR drive-in — either
TENANT STATUS
Vacant or occupied
DISCOUNT TARGET
20%+ below replacement
CATEGORY B · PRIORITY 2
NPL / Defaulted Loan Portfolios
The unfair-advantage category. Pulse AI sources non-performing loans and defaulted paper from community banks, regional banks, credit unions, and FDIC Problem Bank List institutions across the five-state footprint. The bank outreach engine triggers when CRE delinquency rates clear 7%, getting Synergy in front of distressed paper before it ever hits a broker.
PURCHASE TARGET
60–75¢ per $1 UPB
DELINQUENCY TRIGGER
7%+ CRE delinquency
BANK SIZES
Under $500M · $500M–$2B · credit unions
CHANNEL
Direct outreach (Pillar 03)
CATEGORY C · PRIORITY 3
Development Land
Pre-zoned industrial land for ground-up development. No rezone plays, no agricultural-to-industrial conversions — only parcels already zoned and ready to build. Minimum 5 acres. All site filters apply equally to land deals.
MIN PARCEL
5 acres
ZONING
Pre-zoned industrial only
DISCOUNT
Custom (deal-by-deal)
SITE FILTERS
All Pillar 04 filters apply
SITE REQUIREMENTS
Physical Filters Applied to Every Lead
Before any lead reaches Steve's screen, Pulse AI verifies it against the full filter stack. Anything failing one of these is rejected silently — Steve only sees what passes the gate.
INTERSTATE
Within 3 miles of interchange
UTILITIES
Water · sewer · gas · fiber
FLOOD ZONE
FEMA Zone X only
TRAFFIC
25,000+ ADT minimum
AIRPORT
Within 15 miles of commercial
TOPOGRAPHY
Mild slope OK with grading
RAIL
Not relevant — no filter
ENVIRONMENTAL
Auto-reject contamination
FINANCIAL MODEL
Underwriting Assumptions, Locked In
Every assumption you provided becomes a hard-coded input on Day 1. The model produces both levered and unlevered returns side-by-side. Tunable on the Friday Week 02 checkpoint.
TARGET IRR
29%
CASH-ON-CASH
9–12%
HOLD PERIOD
2–5 years
LTV
65–75% conventional
VACANCY
5%
CAPEX RESERVE
$0.50/sf/year
PM FEE
4% of EGI
TI ALLOWANCE
$150/sf
LEASING COMM
6%
RENT GROWTH
3% annual
EXIT CAP
5.50%
OUTPUT
Levered + unlevered
04 · BUILD PILLARS

Five operational pillars

Five intelligence layers, each handling a distinct part of the deal lifecycle, all feeding into one Pulse AI–powered dashboard at dealscout.synergydevllc.com.

PILLAR 01
Deal Sourcing & Scanning
Pulse AI continuously monitors LoopNet, CREXi, Ten-X, Bid4Assets, MLS Commercial, Auction.com, and CoStar across all five states. Leads are scored on the three signals you flagged as highest priority — interstate proximity, vacancy distress, and lease rate discounts — then delivered as a single overnight batch each morning. Foreclosure filings and Notices of Default are tracked across the same geography. No more refreshing seven platforms by hand.
PILLAR 02
Underwriting & Analysis
Every qualified lead is automatically run through Synergy's custom model with your exact assumptions baked in. The model produces both levered and unlevered returns side-by-side, validates against your 29% IRR and 9–12% cash-on-cash thresholds, and flags deals that don't clear. Deals that hit the targets get promoted to your pipeline; deals that miss go into a watchlist you can revisit if pricing moves.
PILLAR 03
Bank Relationship Development
This is where Synergy gets the unfair advantage. Pulse AI builds a targeted bank list across the five-state footprint and triggers outreach when CRE delinquency rates exceed 7%. Outreach runs on a 7-day cadence with a 3-touch maximum across email, LinkedIn, and a phone follow-up queue you control. Synergy's website and credentials get attached automatically. The goal: surface NPL and REO at 60–75¢ on the dollar before they ever hit a broker. Non-responders are retired automatically so the engine doesn't burn relationships.
PILLAR 04
Site Qualification
Before a lead ever hits your inbox, Pulse AI runs it through the full nine-filter site stack. Interstate access, utilities, FEMA zone, traffic count, airport proximity, zoning, slope, and environmental — all verified automatically. Pre-2000 builds are auto-rejected on Category A. Rail is not a filter — Synergy isn't chasing rail-served sites and we don't waste cycles on them. The result: only deals that fit your buy-box make it to your screen.
PILLAR 05
Pipeline & Disposition
A single pipeline view that tracks every deal from sourced lead through underwriting, LOI, PSA, close, hold, and disposition. Synergy's transaction defaults are baked in: 3% earnest money, 90-day close, First American title, Celtic Bank lender, your LOI template integrated. Deals with no movement for 14 days get flagged stale automatically. Your mixed disposition strategy across LoopNet, CREXi, CoStar, and direct investor outreach is built in with a 24–36 month default hold.
05 · YOUR DASHBOARD

What dealscout.synergydevllc.com looks like

This is a live preview of the command dashboard your team will use every day. Click the sidebar tabs below and take it for a spin — Pipeline, Sourced Leads, Underwriting, Bank Outreach, Site Filters, Dispositions, Reports, and Settings. Everything you see is built from your intake answers.

dealscout.synergydevllc.com/pipeline
Pipeline
Sourced Leads
Underwriting
Bank Outreach
Site Filters
Dispositions
Reports
Settings
ACTIVE DEALS
19
THIS WEEK
+7
STALE (14D+)
2
SOURCED · 12
Synergy North
Sandy, UT · 42K sf · $4.8M
West Valley Flex
West Valley, UT · 38K sf · $3.9M
Meridian Industrial
Boise, ID · 51K sf · $5.1M
UNDERWRITING · 4
Chandler Distribution
Phoenix, AZ · 47K sf · IRR 31.2%
NPL Pool — Zions
UT/NV · $3.2M UPB · 68¢/$1
LOI / PSA · 2
Commerce City Parcel
Denver, CO · 7.2 ac · LOI sent
CLOSED / HOLD · 1
Henderson Flex
Las Vegas, NV · 36K sf · CoC 11.4%
TODAY'S BATCH
12
THIS WEEK
47
PLATFORMS SCANNED
7/7
PROPERTYLOCATIONSIZEPRICESOURCESIGNAL
Synergy NorthSandy, UT42K sf$4.8MLoopNetDISTRESS
West Valley FlexWest Valley, UT38K sf$3.9MCREXiVACANCY
Meridian IndustrialBoise, ID51K sf$5.1MMLS Comm.LEASE DISC
Chandler DistributionPhoenix, AZ47K sf$4.2MCoStarDISTRESS
Reno Logistics CenterReno, NV62K sf$5.8MTen-XFORECLOSURE
DEALS IN UW
4
AVG IRR
31.8%
AVG CoC
10.6%
DEALIRR (L)IRR (UL)CoCEXIT CAPSTATUS
Chandler Distribution31.2%18.4%11.4%5.50%PASS
NPL Pool — Zions34.1%34.1%N/AN/APASS
Reno Logistics28.6%16.2%9.1%5.75%REVIEW
Mesa Flex Park22.1%12.8%7.4%6.00%BELOW 29%
BANKS TARGETED
84
RESPONDED
12
NPL LEADS
3
INSTITUTIONASSETSCRE DELINQTYPETOUCHSTATUS
Zions Bancorp$1.8B8.2%Regional2 / 3RESPONDED
Celtic Bank$420M7.4%Community1 / 3SENT
Mountain West CU$310M9.1%Credit Union2 / 3MEETING SET
First Federal (FDIC)$180M12.3%Problem List1 / 3QUEUED
Basin State Bank$95M11.8%Community3 / 3NO RESPONSE
LEADS SCANNED
47
PASSED
19
REJECTED
28
FILTERRULEPASS RATE
InterstateWithin 3 mi78%
ACTIVE
UtilitiesWater/Sewer/Gas/Fiber85%
ACTIVE
FEMA ZoneZone X only92%
ACTIVE
Traffic (ADT)25,000+64%
ACTIVE
AirportWithin 15 mi71%
ACTIVE
EnvironmentalAuto-reject contamination96%
ACTIVE
Year BuiltAfter 200058%
ACTIVE
Rail AccessN/A—DISABLED
IN HOLD
1
AVG HOLD TARGET
30 mo
EXIT CHANNELS
4
DEALACQUIREDHOLD TARGETEXIT STRATEGYSTATUS
Henderson FlexMar 202624–36 moMixed — CREXi + directHOLDING
EXIT CHANNELS CONFIGURED
LOOPNET CREXI COSTAR DIRECT INVESTOR
DAILY SUMMARY
ON
LAST SENT
7:00 AM
DELIVERY
Email
REPORTFREQUENCYRECIPIENTSTATUS
Daily Pipeline SummaryEvery morning[email protected]ACTIVE
High-Priority Lead AlertReal-time[email protected]ACTIVE
Stale Deal Alert14-day triggerDashboard + emailACTIVE
Bank Response DigestWeekly[email protected]ACTIVE
PLATFORM CONFIGURATION
SETTINGVALUESTATUS
Domaindealscout.synergydevllc.comLIVE
SSL CertificateActive — auto-renewSECURED
UsersSteve Urry · Soren Urry · Karen Laurie3 ACTIVE
Default ViewPipeline OverviewSET
Notification Email[email protected]VERIFIED
CoStar IntegrationActive subscription linkedCONNECTED
Stale Threshold14 daysSET
EnginePulse AI v1.9RUNNING
06 · 4-WEEK ROADMAP

How we build it

Four sprints, working software at the end of each week. We send a Friday status update every week so you always know exactly where the build is.

WEEK 01 · FOUNDATION
Architecture, branding & sourcing layer
APR 14 — APR 20
We stand up the platform on Pulse AI, deploy dealscout.synergydevllc.com with SSL, provision logins for Steve, Soren, and Karen, and configure the sourcing layer. Geography, MSAs, the under-100K exclusion, and your full Category A/B/C envelope all locked in. By Friday, Pulse AI is scanning all seven platforms.
YOU GET
  • Live dashboard at your domain
  • Three user logins provisioned
  • 5 states · 6 MSAs configured
  • All 7 listing platforms scanning
WEEK 02 · INTELLIGENCE
Underwriting model & site qualification
APR 21 — APR 27
We build your underwriting model from scratch with every assumption locked in, validating against your 29% IRR and 9–12% CoC targets. In parallel, the nine-filter site qualification layer goes live so every lead from Pillar 01 is automatically filtered before it reaches your pipeline.
YOU GET
  • Custom underwriting model
  • Levered + unlevered output
  • 9 site filters live
  • Auto-rejection rules active
WEEK 03 · OUTREACH
Bank relationship & disposition layer
APR 28 — MAY 04
We build the bank target list across all five states — community banks under $500M, regional $500M–$2B, credit unions, and FDIC Problem Bank List institutions (prioritized). Outreach engine configured with 7-day cadence, 3-touch max, professional-but-direct tone, Synergy credentials attached. Disposition layer ships in parallel.
YOU GET
  • Bank target list across 5 states
  • 7-day cadence outreach engine
  • Email · LinkedIn · phone-queue
  • Disposition pipeline module
WEEK 04 · LAUNCH
Pipeline integration, training & go-live
MAY 05 — MAY 18
Final integration of all five pillars into one unified pipeline. Transaction defaults baked in, daily summary email configured, 14-day stale flag live. Synergy North (Sandy, UT) loaded as the seed entry. 90-minute live training session. Platform goes operational on or before Monday May 18.
YOU GET
  • Unified pipeline across all 5 pillars
  • LOI template integrated
  • Daily summary email live
  • Synergy North loaded
  • 90-min team training
GO-LIVE · MAY 18
  • Platform operational Monday
  • 30-day post-launch tuning
  • Direct line to TFSF
  • Phase Two scoping
07 · WHAT YOU OWN ON DAY 35

Summary sheet

Everything Synergy owns and operates the moment we hit go-live on May 18.

01
Platform & Access
  • Branded dashboard at dealscout.synergydevllc.com
  • SSL secured · 24/7 uptime
  • Three user logins: Steve, Soren, Karen
  • Pipeline overview as default view
  • On-dashboard + email notifications
02
Intelligence Operations
  • 7 listing platforms scanned daily
  • Custom underwriting model running
  • 9 site filters active on every lead
  • Bank outreach engine on 7-day cadence
  • FDIC Problem Bank List prioritized
03
Transaction Defaults
  • 3% earnest money standard
  • 90-day close from executed PSA
  • First American title preset
  • Celtic Bank preferred lender
  • Your LOI template integrated
04
Reporting & Support
  • Daily pipeline summary to [email protected]
  • 14-day stale-deal auto-flag
  • Synergy North loaded as seed deal
  • 90-min live training session
  • 30-day post-launch tuning included
  • Synergy owns everything — platform, data, model, lists
08 · WHAT WE NEED FROM YOU

Three items to start the build

A few things you flagged in the intake that you'd provide. Send them to [email protected] with the reference codes below in the subject line so we route them to the right place.

REQUIRED · WEEK 01
Send to [email protected]
All three items can come in a single email or separately — whichever is easier. Reference the code in the subject line so the system files them against the Synergy build automatically.
REF · TFSF-FLEX-001
Synergy LOI Template — your standard letter of intent format, integrated into Pillar 05 for one-click generation
REF · TFSF-FLEX-002
Company One-Pager / Credentials — attached to every bank outreach message in Pillar 03
REF · TFSF-FLEX-003
Synergy North Deal Sheet — Sandy, UT property loaded as the seed entry in your pipeline at launch
REF · TFSF-FLEX-004
Anything Else — saved searches, target bank contacts, existing pipeline notes — send it all
09 · YOUR COMPLETE INTAKE

Every answer you gave us, on record

We didn't miss a word. Click to expand your full intake submission, organized by section — exactly as you submitted it on April 7.

Synergy Development — Full Intake Record

86 ANSWERS · SUBMITTED 04.07.2026
Organization & Team
Primary platform operator
Steve Urry
Additional dashboard access
Soren Urry, Karen Laurie
People in deal sourcing
2–3 people
Hours/week on sourcing & underwriting
Under 10 hours
Geography & Target Markets
Launch states
Utah, Nevada, Idaho, Colorado, Arizona
Priority MSAs
Salt Lake City, Phoenix, Boise, Denver, Las Vegas, Reno
Geographies to exclude
Population less than 100,000
Deal Parameters & Acquisition Criteria
Priority ranking
1. Distressed buildings · 2. NPL/Defaulted Loans · 3. Development Land
Target deal size
$5,000,000
Target building size (Cat A)
35,000 sq ft
Target land parcel (Cat C)
5 acres
Stabilized cap rate range
5.50%
Discount-to-replacement (Cat A)
20%+ below replacement (market rate also OK)
NPL purchase target (Cat B)
60–75¢ per $1 UPB
Land discount threshold (Cat C)
Custom threshold
Property types / zoning
I-1 (Light Industrial), Flex / Mixed-Use Industrial, Commercial with conversion potential
Auto-reject deal-breakers
Environmental contamination
Tenant/occupancy preference (Cat A)
Both — depends on price
Building age preference
Built after 2000 only
Minimum clear height
20 ft minimum
Loading dock / drive-in doors
Either type acceptable
Deal Sourcing & Scanning
Listing platforms monitored
LoopNet, CREXi, Ten-X, Bid4Assets, MLS Commercial, Auction.com, CoStar
Foreclosure / NOD tracking
No — want the platform to handle this
Lead delivery speed
Daily overnight batch
Priority scoring signals
Interstate proximity, vacancy distress, lease rate discounts
Existing saved searches
No
Underwriting & Analysis
Current underwriting model
Combination of methods
Target hold period
2–5 years
Target IRR
29%
Target cash-on-cash
9–12%
Financing assumptions
Conventional debt (65–75% LTV)
Existing model to replicate?
No — build from scratch
Default vacancy
5%
CapEx reserve
$0.50/sf/year
Property management fee
4% of EGI
TI allowance
$150/sf
Leasing commission
6%
Annual rent growth
3%
Exit cap rate
5.50%
Return view
Both — levered + unlevered side-by-side
Bank Outreach
Existing bank relationships
No — building from scratch
CRE delinquency trigger
7%+ CRE delinquency
Target bank sizes
Under $500M, $500M–$2B
Outreach tone
Professional but direct
Follow-up cadence
Aggressive (every 7 days)
Max follow-ups
3 touches
Include credit unions?
Yes — include credit unions
FDIC Problem Bank List?
Yes — prioritize them
Outreach channels
Email, LinkedIn, phone follow-up (agent queues, you call)
Credentials to attach
Website + one-pager (to provide)
Site Qualification
Max distance from interstate
Within 3 miles
Utility requirements
Municipal water, sewer, natural gas, fiber internet
FEMA flood zone
Zone X only (no flood risk)
Rezone opportunities?
No — only pre-zoned industrial
Environmental concerns
Minimum environmental issues
Topography
Mild slope acceptable with grading
Minimum ADT
25,000+
Rail access
Not relevant
Airport proximity
Within 15 miles of commercial airport
Disposition & Pipeline
Typical disposition strategy
Combination depending on deal
Existing buyer relationships
No
Marketing platforms
LoopNet, CREXi, CoStar, direct investor outreach
Hold-to-disposition timeline
24–36 months
LOI template
Yes — will provide
Earnest money
3%
Closing timeline
90 days from executed PSA
Title company
First American
Preferred lender
Celtic Bank
Stale deal flag
14 days
Existing pipeline deal
Synergy North, Sandy Utah
Interface & Integration
Default view
Pipeline overview (all deals)
Notifications
Email + dashboard only
Auto-generated reports
Daily pipeline summary
Current CRM
Nothing formal
CoStar subscription
Yes — active
Preferred domain
dealscout.synergydevllc.com
Approach
Phase one then tweak as we go
NEXT STEP
Approve and we start Monday.
Sign-off kicks off Week 01 on Monday April 14. Friday status updates every week. Platform live on or before Monday May 18.
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SYNERGY · SOW · v1.0 · 04.10.2026