One of Maine’s largest independent real estate companies has been acquired by the Bean Group.
The Maine Real Estate Network, Maine’s largest residential real estate company by units sold, was acquired by Bean Group on Thursday. A purchase price was not disclosed, but the deal does not include the Loni Graiver family of companies, Cumberland County Mortgage and Graiver Homes, according to a statement from Bean Group.
With this transaction, Portsmouth-based Bean Group will have more than 915 real estate professionals working in four states. In 2017, the company expects its sales associates to facilitate over $2.1 billion in residential real estate sales, and nearly 8,400 home sale transactions, according to the statement.
Maine Real Estate Network has about 550 agents in offices across Maine. In 2016, it had $874 million in sales volume and closed on more than 4,364 units.
Founder Loni Graiver will remain in an advisory role and Ernie Whitehouse, the network’s chief operating officer, will remain in that role.
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