Post-IC Property Setup

Post-IC Property Setup

Workflow purpose

Between IC approval and deal close, pre-wire the operating and data-platform stack so that the close-day handoff is a promotion rather than a cold start. The workflow reserves identifiers, drafts placeholder rows, engages outside parties (formation counsel, pre-close insurance carrier, tax-research provider), and tracks readiness against the tolerance band. On close, it packages a baton-pass payload for workflows/acquisition_handoff with every placeholder id, crosswalk draft status, approval status, and known outstanding issue.

Trigger conditions

• Explicit: "open pre-close setup for {deal}", "post-IC setup status", "reserve property_id for {deal}", "pre-close readiness for {property}".
• Implicit: Dealpath deal.stage transitions to ic_approved for an acquisition deal type (Handoff 1 in reference/connectors/_core/stack_wave4/lifecycle_handoffs.md). deal_close_date_actual must be null (post-IC but pre-close); if already non-null the workflow refuses and routes to workflows/acquisition_handoff.
• Recurring: none. Strictly event-driven from the IC approval trigger.

Inputs (required / optional)

Outputs

Required context

asset_class, segment, form_factor, lifecycle_stage (always pre_acquisition), management_mode, market, deal_id, org_id. jurisdiction required for legal-entity formation. expected_close_date required to compute lag bands.

Process

1. Receive IC approval event. Consume the Dealpath IC-approved trigger (Handoff 1 in lifecycle_handoffs.md). Confirm deal.stage = ic_approved and deal_close_date_actual is null. If deal_close_date_actual is already non-null, refuse and route to workflows/acquisition_handoff.
2. Load baseline. Pull canonical placeholder deal, asset, and the IC approval_request record. Per source_of_truth_matrix.md, Dealpath is primary for deal and asset in the pre-close window.
3. Reserve property_id. Allocate a canonical property_id from the org's reservation scheme; record as reserved-pending-close.
4. AppFolio placeholder property. Draft the AppFolio payload with lifecycle_stage=pre_acquisition, status=pre_setup, populated address, market, submarket, segment, form_factor. Unit-level records remain empty until close. Per source_of_truth_matrix.md, AppFolio is primary for property once it exists; at this stage it is a placeholder.
5. Intacct placeholder legal entity dim. Draft the Intacct entity dimension structure with reserved legal_entity_id. Per source_of_truth_matrix.md row property: secondary = intacct for legal_entity_id.
6. Legal-entity formation routing. Engage counsel for the entity formation in the target jurisdiction. Track legal_entity_formation_lag_days (proposed) from IC approval. Formation delay risks breaking the close date; surface via row 17 if beyond band.
7. Tax-lot and assessment research. Open a tax-lot research packet per parcel id. Track tax_lot_research_completion_rate (proposed). Known appeals or re-assessment activity flagged for asset_manager review.
8. Pre-acquisition insurance binder. Bind pre-close insurance with carrier per reference/normalized/insurance_program__portfolio.csv minimum terms. Record pre_close_insurance_binder_lead_days (proposed). Binder must be in force by close date minus overlay-defined lead.
9. Placeholder crosswalk drafts. Propose property_master_crosswalk.yaml row (status: pre_acquisition, canonical_id reserved) and asset_crosswalk.yaml row per master_data/crosswalk.schema.yaml. Proposed rows go to a staging area gated by workflows/owner_approval_routing before merge; see survivorship_rules.md.
10. Readiness screen. Compute placeholder_crosswalk_creation_lag_days (proposed), pre_close_setup_completeness_score (proposed), and per-workstream lag. Any workstream exceeding the tolerance band triggers row 7.
11. Baton-pass payload assembly. Compose the payload that workflows/acquisition_handoff will consume on close: reserved property_id, placeholder legal_entity_id, placeholder crosswalk ids, all approval statuses, all known issues.
12. Deal-team-lead sign-off. Route the pre-close packet via workflows/owner_approval_routing row 17 for deal_team_lead sign-off. Sign-off is a condition of the baton-pass being marked ready.
13. Close-date watch. If expected_close_date is less than overlay-defined lead (typically T-10 business days) and readiness score is below threshold, escalate to asset_mgmt_director.
14. Confidence banner. Surface as_of_date and status tags for every reference file and crosswalk referenced; cite the lifecycle_handoffs.md handoff id (h_dp_to_approved_...).

Metrics used

• pre_close_setup_completeness_score (proposed: true) — weighted completion of the pre-close setup checklist; grain=deal, time_basis=as_of_date.
• placeholder_crosswalk_creation_lag_days (proposed: true) — days between IC approval and placeholder-crosswalk row approval; grain=deal, time_basis=event_stamped.
• pre_close_insurance_binder_lead_days (proposed: true) — days between binder-in-force date and expected close; grain=deal, unit=days.
• legal_entity_formation_lag_days (proposed: true) — days between IC approval and entity formation effective date; grain=deal.
• tax_lot_research_completion_rate (proposed: true) — share of tax-lot research packets closed pre-close; grain=deal, unit=percent.
• handoff_baton_readiness_score (proposed: true) — composite of sign-off status + crosswalk-draft status + insurance-binder status that governs handoff readiness at close; grain=deal, unit=percent.

Proposed metrics will be lifted into _core/metrics.md in a dedicated change-log entry before the workflow is promoted beyond draft.

Reference files used

• reference/connectors/_core/stack_wave4/lifecycle_handoffs.md — handoff definitions (Handoff 1).
• reference/connectors/_core/stack_wave4/source_of_truth_matrix.md — primacy and effective-dating rules for deal, asset, property.
• reference/connectors/adapters/dealpath_deal_pipeline/manifest.yaml and dq_rules.yaml — source shape; blocking rule dp_handoff_lag cited; dp_completeness_ic_record cited.
• reference/connectors/adapters/appfolio_pms/manifest.yaml — PMS primary for property once operating.
• reference/connectors/adapters/sage_intacct_gl/manifest.yaml — GL primary for legal_entity_id, entity dims.
• reference/connectors/master_data/property_master_crosswalk.yaml, asset_crosswalk.yaml — crosswalks the workflow proposes placeholder rows for.
• reference/connectors/master_data/identity_resolution_framework.md and crosswalk.schema.yaml — identity and schema policy.
• reference/normalized/schemas/reconciliation_tolerance_band.yaml — lag thresholds and readiness bands.
• reference/normalized/approval_threshold_defaults.csv — approval thresholds (rows 7, 17, 19 per approval matrix).
• reference/normalized/insurance_program__portfolio.csv — minimum binder terms and carrier panel.

Escalation points

• Handoff lag. Any workstream exceeding the pre-close lag band routes to data_platform_team -> regional_ops_director -> approval_request row 7.
• Missing required approver. If the deal_team_lead sign-off cannot be routed, escalates per row 17.
• Legal-entity formation delay. Formation lag beyond overlay band routes to deal_team_lead + legal counsel per row 17.
• Insurance binder gap. Binder lead below overlay band routes to deal_team_lead + asset_mgmt_director per row 17.
• Doc package incomplete. Pre-close docs (formation package, tax-lot research, binder) below completeness threshold routes to reporting_finance_ops_lead.

Required approvals

• deal_team_lead_pre_close_signoff — row 17 (policy-overlay-marked action). Terminal pre-close gate; required to mark the baton-pass payload ready.
• legal_entity_formation_engagement — row 19 (contract binding the owner, counsel engagement).
• pre_acquisition_insurance_binder — row 17 (policy-overlay-marked action for binder binding pre-close).
• Crosswalk row additions (placeholder rows) to master_data: routed via workflows/owner_approval_routing per survivorship_rules.md.

Failure modes

1. Premature promotion. Placeholder flipped to operating lifecycle_stage before close. Fix: workflow refuses promotion; that is acquisition_handoff's job.
2. Missing IC record. IC approval record not present. Fix: dp_completeness_ic_record dq rule gates the workflow; refuse without it.
3. property_id collision. Reserved property_id already in use. Fix: reservation via org scheme; workflow refuses on collision.
4. Legal-entity formation silently delayed. Counsel engagement opened but not tracked. Fix: legal_entity_formation_lag_days is a mandatory checklist item.
5. Binder gap at close. Binder expires before owner permanent policy binds. Fix: lead-day band enforced; row 17 escalation.
6. Baton-pass marked ready without sign-off. Fix: sign-off gate is structural; baton is not ready without the approval record.
7. Placeholder crosswalk merged to canonical before close. Fix: staging-area + survivorship enforcement; canonical merge is a close-time handoff, not a pre-close event.
8. Close date moves and nobody re-checks the lag bands. Fix: close-date watch step fires on any expected_close_date change.
9. Multi-asset deal not split at placeholder stage. Fix: dp_one_deal_multiple_projects check required; one placeholder instance per target property.

Edge cases

• Late deal close. expected_close_date slips. Lag bands recomputed; insurance binder term extended if required; tax-lot research re-validated if stale.
• Multi-asset deal split. One deal spawns multiple properties. The workflow opens one pre-close setup instance per target property; parent deal carries union status.
• Dev TCO before punch list complete. Not applicable to acquisition; refer to workflows/delivery_handoff for development path.
• Partial delivery. Not applicable (delivery is a development concept).
• Vendor master not rationalized. Vendor rationalization is an acquisition_handoff concern; the pre-close workflow only stages reserved vendor relationships for later resolution.
• Crosswalk row not created on time. placeholder_crosswalk_creation_lag_days breach triggers data-platform escalation; the baton is not ready until approved.
• Lender notification missed. Lender registration is an acquisition_handoff step; the pre-close workflow only confirms the lender relationship is queued for that hand-off.
• Insurance gap during transition. Seller policy end vs. owner binder effective is checked pre-close; any gap is pre-routed to legal + asset_mgmt_director.
• PMA execution lag. PMA execution is not a pre-close gate (PMA binds at close). The workflow only verifies a draft PMA is on file if management_mode=third_party_managed.
• Deal termination pre-close. If the deal terminates pre-close, the workflow calls the unwinder: reserved property_id released, placeholder crosswalk rows withdrawn, binder cancellation routed, engagement letters closed.
• Re-trade at IC. Re-trade triggers a refresh of placeholder address, unit count, and entity naming if relevant; lag clocks re-baseline at the amended IC approval.

Example invocations

1. "Open pre-close setup for deal d_2026_acq_004 (Riverwood). IC approval was 2026-03-22; expected close 2026-04-10."
2. "Status of the Riverwood pre-close setup — flag any items outside the lag band."
3. "Build the pre-close sign-off packet for the deal team lead on d_2026_acq_007."

Example outputs

Output — Pre-close setup checklist (abridged, Riverwood d_2026_acq_004)

Handoff id. h_dp_to_approved_2026Q1_acq_004 (per lifecycle_handoffs.md).

property_id reservation. complete. Reserved prop_riverwood pending close.

AppFolio placeholder property. complete. lifecycle_stage=pre_acquisition, address + market + submarket populated; unit records intentionally empty.

Intacct placeholder entity dim. in_progress. legal_entity_id=ENT_RIVERWOOD_LLC reserved; project dim drafted; Intacct dim creation pending counsel formation certificate.

Legal-entity formation. in_progress. Counsel engaged 2026-03-25; target effective date 2026-04-03; legal_entity_formation_lag_days=12 (within band).

Tax-lot research. complete. Three parcels researched; one parcel has open appeal flagged for asset_manager review.

Pre-acquisition insurance binder. complete. Bound 2026-04-01, effective 2026-04-10; pre_close_insurance_binder_lead_days=9.

Placeholder crosswalk rows. in_progress. property_master_crosswalk row draft pending review; asset_crosswalk row draft pending review; placeholder_crosswalk_creation_lag_days=6.

Baton-pass payload. ready_pending_signoff.

Readiness scorecard. pre_close_setup_completeness_score=0.83 (proposed).

ApprovalRequest. Pre-close sign-off packet routed to deal_team_lead via workflows/owner_approval_routing row 17.

Confidence banner. property_master_crosswalk@2026-03-31 (sample); asset_crosswalk@2026-03-31 (sample); lifecycle_handoffs.md@wave_4_authoritative; source_of_truth_matrix@wave_4_authoritative; reconciliation_tolerance_band@2026-03-31 (starter); dealpath_deal_pipeline@wave_4 (stub). Blocking rules cited: dp_handoff_lag, dp_one_deal_multiple_projects (neither fired).