Re/Max Holdings Inc. said its buying its franchise operation in Kentucky, Georgia, Tennessee and south Ohio in a deal valued at more than $50 million.

The deal comes less than four weeks after the Denver-based real estate giant (NYSE: RMAX) said it was buying its New Jersey operations for $45 million.

The purchase of the Southern independent Re/Max Regional Services group now extends the total of the company's owned regions to 18.

"The company will pay a purchase price of approximately $50.4 million," Re/Max said in a filing with the Securities and Exchange Commission.

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