Cap Orbit vs Rogo: CRE Buy-Side Execution vs Sell-Side Banking AI

The difference in kind

A mandate is not an asset.

Rogo automates the banker’s process. Felix, its flagship, takes in a CIM, runs the comps, drafts the buyer list, and queues the outreach, and the platform behind it reaches into the systems a banking team already lives in. The unit of work is the mandate, and the job is to move it from sourcing to close.

A CRE acquisition runs on different rails. The work is the asset: the rent roll buried in the broker’s workbook, the T-12 that needs normalizing, the model the committee will stress, the settlement statement that has to tie, and the hold that follows. Cap Orbit is built around that file, and it carries the deal from the day the materials arrive through underwriting, the IC memo, closing, and the years the firm owns the asset.

Credit where due

Where Rogo wins.

Rogo’s strength is real and specific: sell-side banking work. As of 2026 Rogo serves more than 35,000 professionals at more than 250 institutions, Rothschild, Jefferies, Lazard, Moelis, and Nomura among them, and it raised $160 million in April 2026 at a $2 billion valuation.

Two acquisitions deepened the banking coverage: Subset added Excel model comprehension, building general financial models, rolling them forward, fixing formula errors, and Offset added multi-step execution across the M&A process. If your team sells companies rather than buys buildings, that ground is Rogo’s.

• Scale: more than 35,000 professionals at more than 250 institutions, bulge-bracket and advisory names among them
• Market data: FactSet, S&P Capital IQ, PitchBook, LSEG, and Preqin coverage, plus filings, expert call transcripts, and news
• Banking workflows: CIM generation, comp analysis, buyer lists, outreach, and data-room diligence
• Excel: the Subset acquisition added model comprehension, from building a workbook to fixing its formula errors

The buy side

Where Cap Orbit wins.

Hand both products broker materials and the difference shows at once. Cap Orbit pulls the unit-by-unit rent roll out of whatever arrived, a workbook tab, a PDF exhibit, a scanned page, traces every figure to the exact file, sheet, and row it came from, and foots the extract to the document’s own stated totals. It normalizes the T-12 onto standard expense lines with an NOI bridge, leaves the seller’s trailing tax line out of the model because taxes reassess on the new basis, and builds the institutional model for the asset class, live formulas throughout, Base, Upside, and Downside priced off one switch. One instruction runs that as a single job: the terminal reads across every file in the deal at once and returns real work product, the workbook, the memo draft, the deck, the bound PDF, your analyst approving each consequential step. It is the difference between asking a question and getting back the workbook, memo, and record. As of mid-2026, nothing in Rogo’s public materials describes rent roll ingestion, T-12 parsing, or property-level underwriting of any kind.

The gap widens after the underwrite. Cap Orbit drafts three memo voices matched to the seat: the screening note that answers fast, the IC memo that argues the equity case return-first, the credit memo that writes the lender case downside-first. At closing it reconciles the settlement statement against the contract, the loan, and the underwrite, and writes the trued-up going-in basis back into the model. Through the hold, each period closes against budget and the original underwrite on a record that never overwrites itself. Rogo’s coverage runs from sourcing to close for corporate M&A; its public materials describe nothing for the period after a deal funds.

Fit and cost

An enterprise mandate against one live deal.

Rogo is bought the way large platforms are bought: no self-serve tier, no published pricing, a sales process, and an implementation that reportedly runs four to twelve weeks with Rogo engineers embedded in the firm. Its core buyer is a deal team of fifty or more, and contracts for large deployments reportedly reach seven figures. For a bank standardizing hundreds of bankers onto one platform, that motion makes sense.

Cap Orbit comes in two tiers. Pro is the managed tier for funds and deal teams of up to 50 people: fully isolated on its own dedicated resources, live deals running within 24 hours, and the evaluation a working session on one of your own deals rather than a multi-week rollout. Enterprise deploys the same platform into the firm’s own cloud account, with single sign-on and customer-held encryption keys, built against your security and architecture review. The motion is to start with Pro and move to Enterprise when the firm wants Cap Orbit inside its own control boundary.