Gateway, core, value-add.
The market classifies. LISA measures.

Market research from the major houses describes what has already happened — transactions, yields, volumes. It reasons at market level, not at the level of a specific building or street.

Gateway / major / secondary tells you the market is liquid. It says nothing about whether this particular building, on this particular street, is well positioned for the next five years.

Core / value add tells you the market's consensus on risk. But the definition is largely conventional rather than academically standardised: in practice, the same asset can move between core, core-plus and value-add depending on the cycle, leverage, asset-management strategy and the risk appetite of the counterparty.

LISA measures the underlying fundamentals — independently of market consensus.

• LISA applies to any geocoded asset. Spatialzr has analysed over 10,000 commercial real estate assets across France — city-centre offices, ground-floor retail, retail parks, shopping centres, managed residential — scored H3 cell by H3 cell, comparable like-for-like across all geographies.

• Office portfolios · Retail assets · Shopping centres · Managed residential

• Absolute score 0-10 · 3-5 year forward-looking trajectory · Comparable across all geographies