Quantum CMBS risk pricer — 2020 data center vintage ~

Quantum engine. A variational quantum eigensolver (VQE) circuit encodes the 8 core risk factors (LTV, DSCR, cap rate, occupancy, WALT, power density, PUE, market tier) as Pauli operators. CNOT gates model entanglement between correlated factors — e.g., LTV and DSCR are strongly entangled, as are cap rate and occupancy. The ground-state energy of the Hamiltonian maps to the minimum-variance loss distribution, correcting the classical Monte Carlo for non-Gaussian tail behavior.