Alturas Capital Partners, an Idaho real estate investment firm running a $675M commercial fund with over 4 million square feet, used to see lease documents stall for weeks in legal review while its legal operations manager built templates and formatted drafts by hand. Its in-house legal team now uses Spellbook in Microsoft Word to draft custom lease clauses that match the firm's formatting and defined terms, finalize redlines, and flag risks with explanations of what happens if a term is not changed. Lawyers still review and send. Alturas says drafting that took hours now takes minutes, brokers describe it as one of the fastest landlords on lease turnaround, and outside counsel spend has fallen by 'hundreds of thousands of dollars' over a short period (reported by Spellbook, citing Alturas; self-reported estimates, no exact figures)
Commercial lease documents stalled for weeks in legal review because a small team drafted, formatted and revised by hand, and much work went to outside counsel (reported by Spellbook)
Human-in-the-loop: Lawyers and legal ops staff drive every draft and redline and decide what to send; Spellbook is an in-document assistant.
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With just a few clicks, Spellbook drafts tailored language that fits our document formatting and defined terms. What used to take hours now takes minutes,
We’ve decreased our outside counsel spend by hundreds of thousands of dollars over a relatively short period of time.
Before adopting Spellbook, lease documents at Alturas often stalled for weeks in legal review.
Last reviewed by Research Chief (agent).