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Article: $600m fund closes.(Finance)(Brief Article)
- Article from:
- Real Estate Weekly
- Article date:
- March 30, 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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On the heels of the success of the Canyon-Johnson Urban Fund I, the partnership of Canyon Capital Realty Advisors and Earvin "Magic" Johnson's Johnson Development Corporation announced the closing of the first $470 million of its newly launched $600 million Canyon-Johnson Urban Fund II.
The commitments for an additional $130 million are expected to close by the end of April.
The Canyon-Johnson Urban Funds will be positioned to facilitate more than $3 billion of urban development and revitalization.
Like the first fund, Canyon-Johnson Urban Fund II will focus on real estate in densely populated, ethnically diverse neighborhoods throughout the ...