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"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.
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