The Real Brokerage Inc., has completed its acquisition of home loan platform LemonBrew Lending, according to an announcement on Friday.
The firm purchased LemonBrew for $1.25 million, which was satisfied by cash in the amount of $800,000 and the issuance of 351,837 common shares at a deemed issued price of $1.279 per share.
Real said the acquisition “broadens Real’s product portfolio to include mortgage brokerage services and is a critical step in the company’s mission to offer a seamless end-to-end home buying experience that removes pain points for both agents and their customers.”
LemonBrew is currently licensed as a mortgage brokerage in 20 states.
“LemonBrew Lending’s current mortgage capabilities and future lending potential, brings us one step closer to our strategy of providing consumers a frictionless home buying experience,” Tamir Poleg, the chairman and CEO of Real, said in a statement.
This is Real’s second core services acquisition this year. The firm previously acquired Expetitle, which is now operating as Real Title. The firm also acquired Redline Real Estate Group in early November.