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After promising to acquire a nearby property to replace Brighton’s Sound Museum music studio which it hopes to demolish for a life science campus, IQHQ Inc. paid $18 million this week for a North Beacon Street property.

The 290 North Beacon St. property contains a 34,802-square-foot building, according to Boston assessors’ data, and is occupied by Boston Light & Sound, a sound and visual presentation company which rents equipment for events.

The Sound Museum faces a Jan. 31 departure from its longtime home, which was acquired by IQHQ as it pursues approvals for a 409,000-square-foot life science campus.

IQHQ Director of Development Kim Thai recently announced that the company was acquiring a nearby property to build out 20,000 square feet of affordable music studios. The developer said it will work with Boston city hall officials on selection on a nonprofit operator.

The Sound Museum’s sprawling 1-story property at 155 North Beacon St., which rents space to musicians for $40 an hour, was acquired by IQHQ in 2021 for $50 million.

IQHQ and Boston Light & Sound did not immediately respond to requests for comment.