Distribution waterfall software, driven by live operations.
Model tiered distribution waterfalls, net IRR, TVPI and DPI, run capital calls and produce bank-ready LP payout files — all computed from the property NOI underneath the fund, not from a spreadsheet someone exports at quarter-end.
A fund’s distribution waterfall and returns in Atrium Elite — computed from the portfolio underneath it, in the live demo.
Tiered waterfalls with real returns
Preferred return, return of capital, and promote tiers split GP and LP economics — with net IRR, equity multiple, TVPI and DPI computed on the actual cash flows.
Capital calls and LP payouts
Issue capital calls, run a distribution through the waterfall, and produce a per-LP payment run with a bank-ready file and batch status tracking — the waterfall becomes a bank-ready payout your own bank executes.
One data model, ops to fund
Fund performance is driven by the same property operations you manage in Atrium — so NOI flows up into distributable cash and investor returns without a parallel spreadsheet.
Why distribution waterfalls live in fragile spreadsheets
For most small-to-mid sponsors, the distribution waterfall is a spreadsheet — tiers, preferred return, catch-up and promote, rebuilt by hand each distribution and reconciled against a separate property-accounting system. It works until an LP emails “what’s my return?” and the answer requires reverse-engineering three workbooks. The fragility is structural: the waterfall is computed apart from the operations that feed it.
How Atrium Elite computes the waterfall
Atrium models the waterfall on the fund’s real economics — commitments, contributions, distributions, and the tier structure — and computes net IRR, TVPI, DPI and the GP/LP split on the actual cash flows. Because the fund sits on the same data model as the properties, the NOI you operate flows into distributable cash and fund performance. When an LP asks for their position, it is already true — and visible to them in a read-only investor portal alongside their capital account and documents.
From waterfall to payout
A computed waterfall is only useful if it pays. Atrium turns a distribution into a per-LP payment run — pro-rata by commitment share — with a bank-ready payout file and batch status tracking, so a multi-investor distribution is a single run instead of a stack of manual transfers. No bank credentials are stored; the file pairs with the payees your bank already holds.
Frequently asked
What is distribution waterfall software?
It models how a real estate fund or syndication splits cash between LPs and the GP across tiers — typically return of capital, a preferred return, a catch-up, and a promote — and computes the resulting investor returns (net IRR, equity multiple, TVPI, DPI). Atrium does this on the fund’s actual cash flows and ties it to live property operations.
Which return metrics does it calculate?
Net IRR, equity multiple, TVPI, and DPI, plus the GP/LP allocation across the waterfall tiers — all derived from commitments, contributions, and distributions rather than entered by hand.
Can it actually pay LPs, or just model the split?
Both. A distribution produces a per-LP payment run (pro-rata by commitment), a bank-ready payout file, and batch status tracking through processing and paid. No routing or account numbers are stored — the file pairs with the payees already saved at your bank.
How does it connect to property operations?
The fund layer sits on the same data model as the properties, so the NOI from operations flows into distributable cash and fund performance. There is no separate system to reconcile, and LP-facing numbers reconcile to the operations underneath them.
Do LPs get their own access?
Yes. Each investor gets a read-only portal showing their commitment, contributions, distributions, returns, and documents (K-1s and statements) — so you are not emailing PDFs every quarter.
See the waterfall computed from live operations.
Run a fund’s distribution waterfall, returns, and LP payouts in the demo — driven by the portfolio underneath it.