"This investment goes to the very heart of what Canyon-Johnson is all about," said CJUF
Managing Partner Bobby Turner.
The size of CJUF
III will help achieve the Canyon-Johnson vision to create an urban landscape that encompasses the residential, retail and entertainment amenities that are so abundant in suburban communities, providing confidence, economic prosperity and a safe and healthy place to live for urban residents.
Pillsbury Winthrop and Sidley Austin LLP provided legal services to Lowe and CJUF
. The acquisition and renovation loan is being provided by Prudential Mortgage Capital Corporation.
CHICAGO, IL: Three years after beginning the redevelopment of Chicago's former police headquarters, Canyon Johnson Urban Funds (CJUF
) and three of Chicago's most respected real estate firms--Mesirow Financial Real Estate, Inc., Near North Properties, Inc., and Northern Realty Group, Ltd.--have sold the Shops at State Place.
Fidelis will manage the center day-to-day and work with CJUF
to reposition the center.
One Hanson Place is Canyon-Johnson's second Brooklyn project; CJUF
I is an investor in Park Place, a mixed-use development of condos, retail and parking currently under construction in the borough's Park Slope neighborhood.