Top-Ranked Northern Arizona Brokerage JBRE & Co. Joins Real
Founded by Bemis in 2017, JBRE & Co. is known for delivering personalized real estate experiences through strategic marketing, full-service support and a team culture built on innovation, collaboration and care. The team's commitment to client-first service and tech-enabled systems has made it a go-to name in Northern Arizona real estate. In 2024, the team closed 138 transactions totaling $73 million in volume. Since its founding in 2017, the team has represented more than 670 buyers and sellers, with cumulative sales exceeding $310 million.
'Justin and his team at JBRE & Co. bring exactly the kind of client-focused mindset we value at Real,' said Tamir Poleg, Chairman and CEO of Real. 'They've built a standout brand by investing in both people and technology—two pillars that define our company. As they continue expanding in Northern Arizona, we're proud to support their next chapter.'
JBRE & Co.'s marketing-forward approach and commitment to streamlined, high-touch service reflects Bemis' larger vision to reshape how real estate is experienced in regional markets. From leveraging digital tools to nurturing a strong referral network, JBRE & Co. is redefining what it means to deliver full-spectrum service outside major metro hubs.
'In today's market, staying ahead takes more than just hustle; it takes a culture of collaboration—and that's exactly what drew us to Real,' said Bemis. 'Real gives us the platform to grow smarter and faster, without compromising the values that define our team. Flagstaff offers four seasons, a strong sense of community and a central location that makes it a top relocation destination. We're excited to connect with like-minded agents across Real's network and elevate what we offer our clients.'
About Real
Real (NASDAQ: REAX) is a real estate experience company working to make life's most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence in all 50 states throughout the U.S. and Canada, Real supports over 29,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses. Additional information can be found on its website at www.onereal.com.
Forward-Looking Statements
Some of the statements in this press release are "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995, including statements regarding agent growth. These forward-looking statements are subject to risks, uncertainties and assumptions, including the risk of slowdowns in real estate markets, economic and industry downturns and Real's ability to attract new agents and retain current agents. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements. They include the risks discussed under the heading 'Risk Factors' in the Company's Annual Information Form dated March 6, 2025, and 'Risks and Uncertainties' in the Company's Quarterly Management's Discussion and Analysis for the period ended March 31, 2025, copies of which are available under the Company's SEDAR+ profile at www.sedarplus.ca. It is not possible for management to predict all the possible risks that could affect Real or to assess the impact of all possible risks on Real's business.
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Forward-looking statements include statements identified by words such as 'could,' 'may,' 'might,' 'will,' 'likely,' 'anticipates,' 'intends,' 'plans,' 'seeks,' 'believes,' 'estimates,' 'expects,' 'continues,' 'projects' and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements, including, among others, statements regarding the Company's anticipated growth and ability to obtain financing and close on pending transactions on the terms or timing it expects, if at all, are based on the Company's current expectations and assumptions regarding capital market conditions, the Company's business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. 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(Unaudited) (in thousands, except share and per share data) For the Three Months Ended June 30, For the Six Months Ended June 30, 2025 2024 2025 2024 Revenues: Rental income $ 22,730 $ 17,364 $ 44,210 $ 33,969 Fee and other 621 686 1,291 1,369 Total revenues 23,351 18,050 45,501 35,338 Operating expenses: Real estate taxes 2,773 2,385 5,422 4,687 Property operating expenses 1,984 2,118 4,445 4,471 General and administrative 4,316 3,920 9,252 8,213 Casualty and impairment losses (gains), net (345) — (195) — Depreciation and amortization 5,914 5,518 11,538 10,819 Total operating expenses 14,642 13,941 30,462 28,190 Loss on sale of real estate assets — — (49) — Income from operations 8,709 4,109 14,990 7,148 Other income — 15 30 65 Interest expense, net: Contractual interest expense (3,817) (2,888) (7,254) (5,525) Write-off and amortization of deferred financing fees and amortization of debt discount (211) (181) (422) (362) Interest income 1 5 7 6 Total interest expense, net (4,027) (3,064) (7,669) (5,881) Income before income tax expense 4,682 1,060 7,351 1,332 Income tax expense (10) (28) (24) (44) Net income 4,672 1,032 7,327 1,288 Net income attributable to operating partnership unitholders' non-controlling interests (1,058) (215) (1,631) (265) Net income attributable to common stockholders $ 3,614 $ 817 $ 5,696 $ 1,023 Net income per share: Basic and Diluted $ 0.12 $ 0.02 $ 0.19 $ 0.01 Weighted average common shares outstanding: Basic and Diluted 23,509,083 22,339,245 23,375,607 22,192,277
