DALLAS-The Canyon-Johnson Urban Funds has madeits first apartment buys in Dallas and San Antonio, and the companyis on the hunt for more acquisition opportunities, according toCJUF Managing Director Neville Rhone.
“We’d love to be able to invest $50 million to $100 million inthe next 12 to 18 months,” Rhone tells GlobeSt.com. “We are excitedabout Texas as a whole and hope to invest a great deal morethere.”
CJUF, the joint venture between Canyon Capital RealtyAdvisors and an affiliate of Magic JohnsonEnterprises, acquired two properties: the 125-unit Dylanin Dallas’ Oak Lawn submarket and the 612-unit Signature Ridgecommunity near the South Texas Medical Center in San Antonio. CJUFacquired The Dylan without a local partner, but teamed up withVenterra Realty to buy Signature Ridge.
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