Real estate crowdfunding platform Patch of Land has announced several management changes with two executives. Min Lee will be joining the real estate marketplace as the Chief Financial Officer and Robert Greenberg has been appointed as its Chief Marketing Officer. Patch of Land said the executives would help accelerate platform growth while stating the company has grown at a compound annual growth rate of more than 290%.
Greenberg is a long term marketing veteran who previously worked for a Blackstone Group subsidiary, B2R Finance, a provider of residential buy-to-rent mortgages. Greenberg has already implemented a program that has apparently grown monthly leads by nearly 270 percent compared to the average monthly totals of the previous nine months. Greenberg has also grown the number of crowdfunding investors registered on the company’s platform to more than 20,000 at year-end 2016.
Lee joins Patch of Land from Credit Suisse, where he was a director in the Real Estate, Gaming and Lodging team responsible for the execution of advisory and financing transactions.
“Extensive experience over multiple economic cycles and leading rapidly growing enterprises are skills that set our leadership apart and will be critical as we grow,” stated Paul Deitch, Patch of Land CEO. “Robert and Min round out a management team comprising proven executives with decades of experience innovating customer-focused technologies, acquiring qualified borrowers and investors, efficiently structuring and processing loans, perfecting first-lien positions and accessing capital markets. I believe this uniquely positions Patch of Land to catapult from being a startup to a top player in the online real estate lending industry.”
Patch of Land co-founder and Executive Chairman Jason Fritton, commented on the changes in management;
“The team we engineered has proven, real-world experience successfully scaling multi-billion-dollar organizations across all aspects of real estate lending, from customer acquisition through loan operations.”