CSX Corp. and VMS Realty Partners said...

CSX Corp. and VMS Realty Partners said they have signed a definitive stock-purchase agreement that calls for VMS Realty to acquire the stock of the Rockresorts group, a wholly owned subsidiary of Richmond, Va.-based CSX Corp., which owns and manages premier resort properties. The terms were not disclosed. VMS Realty is a group of partnerships owned by three individuals and a subsidiary of Xerox Credit Corp., a Xerox Financial Services unit. Properties VMS Realty owns or manages include major luxury resorts such as the Sonesta Beach Hotel & Tennis Club in Bermuda. VMS Realty has a portfolio valued in excess of $5 billion, and is the second-largest owner of hotels in the United States.