PHOENIX, July 31, 2018 /PRNewswire/ -- Brian Bair and Jerry Coleman founded Offerpad in 2015 with a vision of developing a better solution for people looking to sell or buy a home. With the experience of thousands of homes bought, sold and renovated; the duo had a deep understanding of the challenges people faced through the traditional real estate process. Currently in eight markets, the company is experiencing triple-digit growth year-over-year. Offerpad is currently executing $150+ million in real estate transactions per month and is on a run rate of $2 billion for the year. The tremendous growth of the company within a newly defined real estate landscape has positioned Offerpad as a leader in the market.
"The company is evolving quickly at every level. I'm excited to expand our leadership team to continue providing our customers with the best way to buy and sell a home," said Brian Bair. "New additions, along with adjustments to our current structure, will further enhance Offerpad's capabilities and facilitate company growth."
Brian Bair will serve as Offerpad's sole chief executive officer and Jerry Coleman, Offerpad founder and board member, will focus on capital raising and high-level initiatives and relationships. Matt Bohn, current chief operating officer, will transition to chief strategy officer and be responsible for driving corporate strategy, partnerships and new market expansion.
Rahim Lakhani joins Offerpad as chief operating officer and chief of staff. Prior to Offerpad, he was with AB InBev where he held multiple roles, including CFO India where he led a team of 110 employees delivering significant growth in cash flow and operating leverage, and global treasury in New York, where he helped generate over $500m in P&L benefits via tax optimization and risk management. In addition, he was vice president, securitized products at Deutsche Bank's capital markets group.
In addition to Lakhani's hire, Arindam Bose, chief product and analytics officer joined the company in April 2018. Bose has more than 20 years in consumer lending and banking. Most recently, he was President at Nationwide Credit, where he led the company through a financial turnaround and conceptualized and built a web-based collection channel, taking it from zero to 30 percent of the firm's revenues. Prior to Nationwide, Arindam spent 11 years at Capital One, specializing in analytics and consumer behavior driven innovations in product, pricing and servicing.
Headquartered in Arizona, and buying and selling houses in eight markets, the company is continuing to hire in several cities. Qualified candidates with a strong desire to help define an industry can visit Offerpad's Career Page for available opportunities.
Offerpad is revolutionizing the real estate industry by providing an innovative and convenient way to sell or buy a home. Founded in 2015, the company's leadership team has decades of real estate experience and collectively has purchased, renovated and rented or sold more than 100,000 homes. Offerpad is a privately held company, headquartered in Arizona, with markets in Atlanta, Charlotte, Las Vegas, Los Angeles, Orlando, Phoenix, Salt Lake City and Tampa.
Cortney Read, Director of Communications