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Publicly traded real estate software company reAlpha Tech Corp (AIRE) has hired a new chief financial officer. William Brent Miller will start his role immediately, taking the reins from Chief Operating Officer Michael J. Logozzo who’s been reAlpha’s interim CFO since July 12.
Giri Devanur | Credit: reAlpha
“We are thrilled to welcome Brent Miller to the reAlpha team,” CEO Giri Devanur said in a prepared statement on Wednesday. His experience, particularly during his tenure at [Kohlberg, Kravis and Roberts], will be instrumental as we continue to execute our strategic vision and bring the reAlpha platform to market.”
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“Brent’s proven leadership in financial management and his deep understanding of the real estate investment landscape makes him the ideal person to help guide reAlpha’s financial strategy moving forward,” he added.
Miller has two decades of experience in real estate finance, with chief accounting and financial officer roles at KKR Real Estate Finance Trust, Fortress Investment Group and New Residential Investment Corp. Most recently, Miller was the chief accounting officer for Sunlight Financial Holdings Inc., a point-of-sale home improvement financing company.
William Brent Miller | Credit: LinkedIn
“I’m incredibly excited to join the reAlpha team. reAlpha’s innovative approach to overcoming affordability barriers to home ownership and simplifying real estate investment using AI technology is truly inspiring,” Miller said in a written statement. “I look forward to contributing to its continued growth and success.”
In addition to hiring a new CFO, reAlpha launched its “super app” aimed at offering commission-free artificial intelligence-powered onboard title and escrow services. ReAlpha will connect homebuyers with a licensed sales professional if they need more assistance than what Claire, its AI model, can provide. ReAlpha also has a home search portal that covers listings in Palm Beach, Miami-Dade and Broward counties in Florida.
“This launch is timed to coincide with the real estate industry’s shift in light of the National Association of Realtors’ (NAR) recent settlement to eliminate the standard 6 percent sales commission when purchasing a home,” reAlpha said in a release about its super app on Tuesday. “These rule changes went into effect Aug. 17, and reAlpha believes such changes make its commission-free offering to be even more compelling for property buyers.”
