The project, including an investment from former basketball star Magic Johnson, is a joint venture of Johnson's Canyon-Johnson Urban Fund, California State Teachers' Retirement System, and Bond Capital, Ltd. It is a five-story project that will include 300 apartments and about 100,000 square feet of retail and restaurant space on former movie studio property in the heart of Hollywood. Corus says the loan was one of its largest to date.
Construction began in June on the $125 million project, which will cover a city block that formerly was home to the American Broadcasting Co. and Merv Griffin studios.
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