MINNEAPOLIS (WCCO) — Dinkytown’s iconic music venue, the Varsity Theater, has been sold to a Los Angeles real estate company, according to the Minneapolis-St. Paul Business Journal.

According to the report, the Minneapolis venue will reopen for shows and events after some upgrades.

The real estate company, Downtown Properties, reportedly bought the venue for $2.51 million from the owner Jason McLean.

McLean faced accusations of sexual abusing students when he worked a Children’s Theatre Company Co. as an actor and teacher.