EXtrance promotes Patrick Frank to Chief Technology Officer
MINNEAPOLIS (July 10, 2023) – EXtrance, a Minneapolis-based investment management platform for commercial real estate investment funds, has moved into its commercialization phase and promoted Patrick Frank to Chief Technology Officer.
Frank brings experience from both the construction/development industry along with a deep passion for technology and start-ups. He has developed multiple successful small businesses rooted in technology that targeted sectors lagging in innovation.
EXtrance has moved out of its R&D phase and into implementation with commercial real estate investors that have $1 B AUM or more. “The reaction from the CRE investment community has been more than enthusiastic, which makes it critical that we move quickly into commercialization and implementation. Patrick will help us make continued improvements and ensure that our platform continues to stay on the cutting-edge of technology,” said William Lively, chief executive officer – EXtrance.
“As a technologist, I have a deep appreciation for the interactions between softwares, hardware, and their networks, combined with my background in asset development I believe I can bring even more value in this new role,” he said. “Working with the rest of the leadership team to build and launch EXtrance has already been exciting and extremely fulfilling. Having been involved with this organization in multiple roles, I’ve seen the incredible potential of its mission and technology. I am exhilarated to bring William’s vision to life and help CRE investors become more efficient, secure, and effective.”
EXtrance’s investment management platform offers key features not available from any other technology platform, including:
- Private solicitation ecosystem and marketplace for limited partnership investors, which widens the net of possible buyers, lowers potential discounts for early exit, and shortens the time from exit request to sale
- Customized investor dashboard, with user friendly customization, role-level security and blockchain, AI, and machine learning to manage and secure investment data. Through its machine learning system and artificial intelligence program, EXtrance takes raw source information from an operating partner and delivers key performance indicators without the need for analysts to dig through numbers and potentially make errors. General partners or fund managers within the organization can upload the documents to the portal. Within minutes, they get real, actionable insights, and key performance indicators to make better-informed decisions.
- Full-service investor management, which allows automated distributions, infallible recordkeeping, strong legal contract enforcement, unique and personalized communication tools, and automated tax generation.
For demonstrations of the EXtrance platform, contact Lincoln Belitz, chief sales officer – EXtrance.
About EXtrance: EXtrance, a Minneapolis-based start-up, is a commercial real estate investment platform with notable AI features, machine learning, and blockchain integrations to create a network that allows for 1031 exchanges, equity swaps, and early exits. This fully developed platform is entering the commercial market in mid-2023, promising to solve many common commercial real estate investment challenges.