Magic Johnson is a terrible broadcaster and analyst, but brilliant businessman.
Canyon-Johnson Urban Funds and Houston-based Midway Cos. have acquired the Houston Pavilions, which had been in receivership since the end of last year.
Canyon-Johnson — backed by basketball legend Earvin “Magic” Johnson — owns other commercial properties in Houston, including the Marq*E Entertainment Center and the Hotel Icon.
The three-block Pavilions was completed in 2008 and includes an 11 story building occupied by NRG Energy. Retail tenants include House of Blues, Forever XXI, McCormick & Schmick’s and Lucky Strike.