Crossword Genius

Hang out somewhere posh? (6)

Ross

I believe the answer is:

reside

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'hang out' is the definition.
(thesaurus)

I don't understand how the rest of the clue works.

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(Other definitions for reside that I've seen before include "Live (at an address)" , "Hang out with" , "Live in permanently" , "Dwell - settle" , "Make one's home permanently" .)

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