Discover how this cloud-based AI-solution is disrupting the status-quo in the real estate industry -
a solution that is incredibly powerful, easy-to-use and can be adapted to different commercial real
estate businesses.
Our Story
The Abstra effort started like many other companies - with a provocative idea on a napkin to build a
product that didn't exist in the commercial real estate industry before.
The founder of Abstra Company, Choon Lee, happened to have lunch in the early 2010s with an old friend of
his, who was a prominent commercial real estate broker in the Los Angeles area, who was frustrated with
the difficulty of abstracting commercial leases in his line of work.
In particular, the Abstra team noticed that juggling and keeping track of ongoing deals served as a
constant pain-point for commercial real estate brokers. For example, abstracting LOIs after each
back-and-forth between Landlords and Tenants is not only labor-intensive for brokers, but also creates
an administrative burden.
But how do you automate a process that cannot be inherently automated, such as abstracting a Commercial
Lease or Letter of Intent? How can you program an application to extract data when every document looks
different based on authorship and circumstance? The only tool capable of tackling such a challenge is
Artificial Intelligence and the Abstra Team - more than 10 years ago - began exploring how this could be
done.
The Abstra team started with commercial leases, but from the Abstra Team's realization to arm commercial
brokers with a highly effective tool to keep track of their ongoing deals, the AbstraPoint DealTracker
(APDT) application was born.
The famous Wright brothers once explained that the key to achieving human flight is not about lifting
yourself off the ground, but what you do once you are in flight, i.e. how you control yourself once you
are in the air.
A.I. - a corresponding innovative tool of the 21st century - in many ways follows the same path as
expressed by the Wright brothers more than a century ago: The key in building a compelling A.I. product
comes down to not only exercising the power of A.I. but in harnessing, guiding, and controlling its
power so that its results are accurate, practical, and easy to use, which became the mission of the
Abstra Team.
The Abstra Team today is dedicated and remain leaders in the A.I. industry as applied for the commercial
real estate industry. The Abstra mission is to bring the future to commercial real estate brokers. The
APDT tool is pin-point accurate, easy-to-use, and personalizable, so that brokers can focus on what they
should be focused on: making deals.
