BOSTON-A real estate development firm supported by Earvin "Magic" Johnson, has sold its stake in an apartment complex in Charlestown for approximately $8.3 million less than the amount it paid to develop the property. A joint venture between Los Angeles-based Canyon Capital Realty Advisors and Johnson, Canyon-Johnson Urban Funds, sold 30 Caldwell St. for $45.7 million to John Hancock Life Insurance Co.
The 146-unit Mezzo Design Lofts was constructed five years ago for $54 million. For the full story, go to Boston Business Journal .
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