Magic Johnson JV Nets Houston Complex For $200M

Law360, New York (August 20, 2012, 5:27 PM EDT) -- A private equity venture between basketball legend Magic Johnson and investment manager Canyon Partners LLC has teamed up with Texas developer Midway Cos. to acquire a $200 million Houston mixed-used complex, the companies said Monday.

Midway, a private Houston-based real estate development and investment firm, and Canyon-Johnson Urban Funds announced the purchase of Houston Pavilions, a commercial and retail complex spanning three city blocks in downtown Houston, out of receivership. The property entered receivership in December 2011.

Houston Pavilions, launched by developers Geoffrey P. Jones and...
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