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FoundationBuilding Materials (“FBM”) is one of the largest specialty building materialsdistributors in the United States. FBM has grown significantly throughacquisitions, inheriting hundreds of properties and their leases.
That meant the team was sitting on numerous executed leases they didn’t originally negotiate. Understanding what was in those agreements, particularly around insurance coverage and which party was responsible for insuring what on each property, required going through them one by one. For legacy acquisitions that took place years ago, that manual review was especially time-consuming.
“One of the things we have at FBM is that we do a lot of acquisitions. We’ve acquired a lot of properties with existing leases that we don’t necessarily negotiate ourselves. Without going lease by lease and looking at each document, which would be very time-consuming, we needed a way to identify where we had to provide certain insurance coverages. Especially when we’re dealing with legacy acquisitions, things that took place multiple years ago.” — Brad Leimkuhler, Vice President and Division General Counsel, at FBM
FBM uploaded all executedleases to Aline’s secure, SOC 2-compliant platform and used AI-poweredreporting to pull insurance provisions and key terms across the entireportfolio. Instead of reviewing each document individually, the team couldidentify coverage gaps, flag responsibilities, and surface patterns acrosshundreds of agreements simultaneously.
The analysis nowsupports insurance renewals and provides the team with real data to negotiatefrom, rather than relying solely on memory or experience.
“It’s to mitigate risk, identify gaps, and also help us negotiate. We can identify in a particular universe of contracts that a position is in 80 of them. We know that’s a more standard market type position. The only other way to do that is either to manually look or to rely on our own experience. But this actually allows us to analyze it.” — Brad Leimkuhler
With Aline, FBM can now identify insurance coverage gaps across its full lease portfoliowithout manual review. The team uses the data to support renewals andstrengthen their position when negotiating lease terms.
“The best thing we’ve used Aline for has been sort of the intersection of real estate, insurance, and legal. There are a lot of questions that come up in terms of lease interpretation, lease negotiation, insurance questions, and being able to upload all of our executed leases and identify those things has been very helpful.” — Brad Leimkuhler
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