Figure Technology Solutions completed its acquisition of real estate investor and lender Kiavi on Tuesday, as it seeks to expand its blockchain-native marketplace. The transaction also included a joint venture between Figure and Sixth Street, a global investment firm, that purchased loans from Kiavi’s balance sheet.

Announced in June, the deal represents a $200 billion annual addressable origination opportunity, according to Figure. The company paid $717 million for the acquisition.

Figure CEO Michael Tannenbaum described the transaction in a website post as “adding an express lane for the next generation of credit.” He emphasized the deal’s potential to increase origination volume, as well as expand Figure’s technology offerings.

“With the acquisition of Kiavi, the market leader in residential transition loan (RTL) lending technology, we add a massive asset class to our capital markets flywheel,” Tannenbaum wrote. “Investors own 25% of all housing stock in the U.S., which is the market that Kiavi serves.”

Arvind Mohan, Kiavi’s CEO, will join Figure as chief business officer and head the rollout of Kiavi’s platform across Figure’s ecosystem.

Kiavi’s residential transition and debt-service coverage ratio (DSCR) lending technologies will be incorporated into Figure Connect, the company’s blockchain-native marketplace, which has an active network of more than 480 partners.

“We love Kiavi’s technology platform, which is an example of true leadership in the use of industry-leading data and machine learning to guide underwriting,” Tannenbaum said. He added that Kiavi’s technology will “soon be available” to the company’s partners while “preserving relationships with Kiavi’s strong base of professional investor customers.”