Investment Memo Draft

Investment Memo Draft

Produce a neutral draft investment memo adaptable for acquisitions, dispositions, or hold reviews.

Skills Invoked

• memo-writing -- memo structure, tone conventions, section templates

Required Inputs

• Property name and basic details (type, location, size)
• Purpose of memo (acquisition, disposition, hold review, or general)

Optional Inputs

• Prior analysis outputs (underwriting, valuation, market snapshot)
• Key risks and mitigants to highlight
• Target audience (IC, board, LP, internal)

Reads from Manifest

• underwriting/summary.md -- financial summary
• underwriting/assumptions.json -- key assumptions
• valuation/valuation-summary.md -- valuation conclusion
• market/submarket-snapshot.md -- market context
• pricing/bid-range.xlsx -- bid recommendation (if acquisition)

Writes to Manifest

• Directory: memo/
• Files: draft-memo.md
• Key metrics: none (narrative output)

Workflow

Step 1: Gather Context

Check manifest for prior outputs. The more prior commands have been run, the richer the memo. If no prior outputs exist, gather information directly from user.

Step 2: Draft Memo

Invoke memo-writing skill. The skill provides section structure:

1. Executive Summary
2. Property Overview
3. Market Overview
4. Financial Analysis
5. Risk Factors and Mitigants
6. Recommendation

Step 3: Populate Sections

Fill each section using data from manifest artifacts and user inputs. Financial exhibits reference the underwriting/valuation outputs rather than duplicating numbers.

Step 4: Output

Generate structured markdown memo. Write to deal context and update manifest.

QA Checklist

• All stated facts sourced (from manifest artifacts or user)
• Financial figures consistent with underwriting output
• Risks are specific to this deal, not generic
• Recommendation is stated or explicitly marked as TBD
• Tone matches target audience

Escalation Notes

• If critical sections lack data (e.g., no financial analysis available), include the section header with "[TO BE COMPLETED]" placeholder and note what's needed
• This produces a DRAFT. Always tell the user it requires human review and editing.