Real Estate One expanding in southeast Michigan

Southfield, Mich.-based Real Estate One Inc. plans to acquire Charles Reinhart Co., an Ann Arbor-based brokerage with more than 180 associates that claimed $664 million in residential and commercial deals in 2012, Crain’s Detroit Business reports.

Real Estate One, which had $2.6 billion in gross sales in 2012, has signed a letter of intent to purchase its rival for an undisclosed price. The deal is expected to close this month, Crain’s reports. Source: crainsdetroit.com.