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Magic Johnson gets in on the Harper Court Action

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Still rallying construction financing for Hyde Park's Harper Court, Vermilion Development has inked an equity loan from L.A.-based Canyon-Johnson Urban Funds which represents a majority of phase one's $16M in equity, according to Crain's. Along with a $65M Citibank loan, the project is about ready to break ground. The mixed-use development, for those who've missed our previous coverage, will be anchored by a Hyatt Hotel and L.A. Fitness. The University of Chicago has committed to leasing all of Harper Court's office space, about 150,000 sf. Site prep is underway, with construction to begin at any time. [Crain's]