The Real Brokerage, an international real estate firm, has closed its $1.25 million acquisition of home loan platform LemonBrew Lending, thus officially expanding Real’s portfolio to include mortgage brokerage services.
Real acquired 100% of LemonBrew’s equity for $1.25 million, of which $800,000 has been paid in cash and $450,000 in NASDAQ common shares issued at $1.279 apiece.
The deal was first announced in September, with a release explaining that it would allow Real Brokerage to add mortgage offerings to its growing brokerage platform in the US. The company also announced its earlier acquisition of digital title and settlement company Expetitle, which now operates as Real Title. LemonBrew is licensed as a mortgage broker in 20 states.