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Real Estate Forum: Another Playing Field

For some athletes, the competition doesn't end when their pro careers are over.

By Maria Wood | Updated on October 31, 2007

Maria Wood is senior editor of Real Estate Forum. This story originally appeared in the October 2007 issue.

With so many athletes going into commercial real estate these days, scanning the roster of executives and developers in the field sometimes reads like the sports pages.Former NBA superstar Earvin “Magic” Johnson now runs his own development firm that specializes in inner-city, mixed-use projects. In 2001, Johnson Development Corp. partnered with Canyon Capital Realty Advisors and established the $300-million Canyon- Johnson Urban Fund. So far, CJUF has built more than 4,500 workforce-housing units and 3.5 million sf of community-serving retail and commercial space in several markets around the country.

Similarly, boxer Oscar De La Hoya has hooked up with Highridge Partners, led by real estate developer and investor John Long, to form Golden Boy Partners. The venture plans to invest $100 million to revitalize inner-city locales, mostly in California, with sizable Latino populations.

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