reAlpha Tech Corp. (Nasdaq: AIRE), a real estate technology firm specializing in artificial intelligence (AI) solutions, has announced its acquisition of Be My Neighbor, a mortgage brokerage licensed in 26 U.S. states.
The acquisition aims to broaden reAlpha’s portfolio by incorporating mortgage lending and refinancing services into its existing real estate operations. Be My Neighbor will provide mortgage services to consumers using reAlpha’s AI-powered, commission-free homebuying platform, enhancing the company’s overall offering.
Brent Miller, Chief Financial Officer of reAlpha, stated, “This acquisition supports our objective of developing a full-service, commission-free homebuying and financing platform driven by AI technology and industry expertise.”
The integration of Be My Neighbor’s services aligns with reAlpha’s strategy to vertically integrate the homebuying process, which is expected to improve customer experience and create new revenue opportunities. The brokerage will continue to operate under its existing brand, led by co-founders Christopher Griffith, Isabel Williams, and Nathan Knottingham, while leveraging reAlpha’s resources and technology.
“This move strengthens our vertical integration within the real estate sector,” noted Sureet Pabbi, Vice President of M&A at reAlpha. “Acquiring a mortgage brokerage allows us to explore new revenue streams and better control a critical aspect of the homebuying process.”
Christopher Griffith, CEO of Be My Neighbor, commented, “We see great potential in reAlpha’s approach to modernizing the $20.2 trillion mortgage industry. Their vision of a comprehensive, digital, commission-free homebuying experience aligns with our goals.”
Further details about the acquisition are available in reAlpha’s Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission.
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By Proptechbuzz
By Ravi Kumar
