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BRT vs OPAD

BRT Apartments Corp and Offerpad Solutions Inc. Class A Common Stock

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BRT Apartments Corp

BRT Apartments Corp. (the Company or BRT), a Maryland corporation, owns, operates and, to a lesser extent, develops multi-family properties. These multi-family properties may be wholly owned by us or by unconsolidated joint ventures in which the Company contributes a significant portion of the equity. At June 30, 2025, the Company: (i) wholly-owns 21 multi-family properties located in 11 states with an aggregate of 5,420 units and a carrying value of $605,283,000; (ii) has ownership interests, through unconsolidated entities, in eight multi-family properties located in four states with an aggregate of 2,527 units and the carrying value of its net equity investment is $30,023,000; (iii) has investments in joint ventures that own two multi-family properties which investments are treated for financial statement purposes as loans (the Preferred Equity Investments) with a carrying value of $17,698,000; and (iv) owns other assets, through consolidated and unconsolidated subsidiaries, with a carrying value of $1,783,000. The 29 multi-family properties are located in 11 states; most of these properties are located in the Southeast United States and Texas. The Company conducts its operations to qualify as a real estate investment trust, or REIT, for federal income tax purposes.

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Offerpad Solutions Inc. Class A Common Stock

Offerpad Solutions Inc., together with its subsidiaries, provides technology-enabled solutions for residential real estate market in the United States. The company offers Cash Offer, which customers can access website or mobile application to receive a cash offer range for their home. It also provides renovation services to other businesses; Direct+ institutional buyer program, allows investors and single-family rental companies to purchase homes from homeowners, and matching investors with sellers; and agent partnership program which partner agents can request a cash offer on behalf of clients, have the ability to list an acquired home prepared for resale, have access to sellers in defined zones, along with having the potential to list other Offerpad-owned homes in their zone, as well as homebuilder services. In addition, the company offers ancillary products and services comprising energy efficiency solutions, smart home technology, insurance, and home warranty services, as well as mortgage, and title and escrow services. Offerpad Solutions Inc. was founded in 2015 and is headquartered in Tempe, Arizona.

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