Related to buy Virgin Megastores
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Related Cos. agreed to buy Virgin Megastores North America and its 11 music stores.
The sale will close in September, Related Cos. said in a statement distributed by PR Newswire. The price wasn’t disclosed. Virgin Megastores is part of Virgin Entertainment Group.
Related, led by Chairman Stephen Ross, gains 400,000 square feet of retail space with the acquisition of the stores, which include locations in New York, California and Texas. Related last year bought Equinox Holdings Inc.’s fitness clubs for $505 million.
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