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Article: Related pays $505m for Equinox fitness clubs.
- Article from:
- Real Estate Weekly
- Article date:
- December 7, 2005
CopyrightCOPYRIGHT 2005 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Related Companies paid $505 million to buy upscale fitness club operator, Equinox Holdings, in partnership with Equinox Company Management.
The sale is expected to close in January 2006. "Related is proud to be acquiring Equinox, a market leader with a broad portfolio of products, a strong customer-focused culture, a long history of profitability, clearly identified growth opportunities, and an extraordinary management team," stated Stephen M. Ross, chairman and CEO of The Related Companies.
Both companies will enjoy a number of key strategic opportunities from the partnership. Related will secure a well known brand as a quality anchor tenant for ...
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Article: Equinox Holdings Appoints Stephen Ross and Douglas ...
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... ... PRNewswire/ -- Equinox Holdings, Inc. today ... Officer of The Related Companies, L.P ... properties, The Related Companies was selected ... founding The Related Companies in 1972 ... Equinox." Equinox Holdings, Inc. operates ...
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