Former CA Treasurer Phil Angelides Joins Canyon Capital Realty Advisors; Will Chair...

Former CA Treasurer Phil Angelides Joins Canyon Capital Realty Advisors; Will Chair New Canyon-Johnson Urban Communities Fund

Angelides to Also Focus on Expanding Firm's Urban, Green
Investment Initiatives
LOS ANGELES--(Business Wire)--
Canyon Capital Realty Advisors (CCRA), one of the nation's premier
real estate investors, today announced that former California State
Treasurer Phil Angelides is joining as a Principal of the firm and as
Chairman of the newly-created Canyon-Johnson Urban Communities Fund.
The new fund, a partnership between Canyon and Earvin "Magic" Johnson,
will focus on acquiring, improving and greening residential rental and
mixed-use properties in urban communities across America.

The new fund will bring together a leadership team distinguished
by its deep experience in urban investment and real estate. Angelides
has earned a national reputation over the last 30 years in both the
private and public sectors for his pioneering work in urban
reinvestment, housing, green investment and smart growth.

The Canyon-Johnson Urban Funds have been at the forefront of
revitalizing urban neighborhoods, building an extraordinarily
successful track record by investing in 30 major urban projects
representing over $4 billion in value in diverse and underserved
communities throughout America. Canyon-Johnson is part of Canyon
Capital Realty Advisors LLC and its affiliate Canyon Capital Advisors
LLC, which have nearly $20 billion of capital under management.

As Chairman of the new Canyon-Johnson Urban Communities Fund,
Angelides will play a key role in expanding Canyon's highly successful
and dynamic presence in the real estate investment marketplace.
Responding to the growing need for quality workforce rental housing in
cities throughout the nation, the Urban Communities Fund will invest
more than $2 billion to acquire upwards of 10,000 existing residential
rental units in major U.S. markets with the goal of upgrading them,
adding amenities, improving management, and providing residents with a
secure, high quality brand of urban living. The fund will break new
ground in greening these properties by improving energy efficiency,
enhancing environmental health and utilizing sustainable materials and
practices. In addition, Angelides will focus on new investment
initiatives by Canyon in areas such as urban infill, smart growth,
green building, and infrastructure.

"We couldn't be more pleased to have Phil Angelides join our firm
as a principal, and to chair the new Canyon-Johnson Urban Communities
Fund," said CCRA Managing Partner Bobby Turner. "Phil is a true leader
who brings an impeccable track record spanning several decades in the
public and private sectors. His longstanding commitment to innovative
investment initiatives and environmental responsibility will only
strengthen the Canyon team that has developed a unique expertise in
acquiring and developing value-added real estate in urban markets
across the country."

"The expertise and experience that Phil brings to Canyon-Johnson
is simply unsurpassed," said Earvin "Magic" Johnson, managing director
of Canyon-Johnson Realty Advisors and chairman and CEO of Magic
Johnson Enterprises. "The Canyon-Johnson Urban Communities Fund will
benefit from Phil's vast knowledge of urban real estate markets
nationwide, and elevate the Canyon-Johnson brand to include the
highest level of sustainable development techniques in projects
throughout the country."

"Bobby and Earvin have built something great at Canyon-Johnson,
and I am excited to build on that success as Chair of this new fund,
which will make important investments in high quality, environmentally
responsible properties in urban neighborhoods across America,"
Angelides said.

In keeping with the long standing commitments of Johnson, Canyon
and Angelides, the fund will focus on the "triple bottom line" of
achieving successful financial results, fostering opportunities for
underserved urban neighborhoods and their residents, and embracing
environmental responsibility. The fund will enrich the living
experience for residents with initiatives such as educational
opportunities for children residing in the properties and public
safety programs to ensure a secure living environment.

About Canyon Capital Realty Advisors

Canyon Capital Realty Advisors LLC and its affiliate Canyon
Capital Advisors LLC are registered investment advisors and money
management firms based in Beverly Hills, Calif., with nearly $20.0
billion of capital under management. Canyon's real estate activities
focus on providing debt and equity capital to real estate owners,
operators, developers, corporations and entrepreneurs, enabling them
to participate in transactions that would have traditionally eluded
them due to capital constraints.

Canyon has built its reputation on creative underwriting and
structuring, reliable commitments, overall professionalism and timely
closings. Canyon's real estate funds include the Canyon Value Mortgage
Fund, the Canyon Value Opportunity Fund and the Canyon-Johnson Urban
Funds, a joint venture with Earvin "Magic" Johnson focused on the
development of retail and residential properties in densely populated,
ethnically diverse communities. For more information on the company,
visit their website at www.canyonpartners.com.

About Magic Johnson Enterprises

Magic Johnson Enterprises, formed in 1987, serves as a catalyst
for community and economic empowerment by making available
high-quality entertainment, products and services that answer the
demands of ethnically diverse urban communities. Through investment,
partnership and consultation, Magic Johnson Enterprises has a
portfolio of companies that strategically work together to reinforce
the organization's focus on serving emerging, multicultural
communities. Some of these companies include Urban Coffee
Opportunities, Canyon-Johnson Urban Fund, SodexhoMAGIC, over 30 Burger
King restaurants, a dozen 24 Hour Fitness Magic Sport centers, a
T.G.I. Fridays restaurant, and a long-standing partnership with AMC
Magic Johnson Theatres. Learn more at www.magjcjohnsonenterprises.com.

About Phil Angelides

Phil Angelides has been a successful businessman and effective
public leader. He has earned a national reputation over the last 30
years in both the private and public sectors for his pioneering work
in urban reinvestment, housing, green investment and smart growth.

Angelides served as California State Treasurer from 1999 - 2007
and was the Democratic nominee for Governor in 2006. For more than a
decade prior to his election to public office, he headed his own real
estate investment firm that managed nearly $500 million in
construction and planned and built communities which provided over
15,000 new homes.

During his eight years in elected office, Mr. Angelides
transformed the State Treasurer's Office into a force for progress.
The Associated Press reported that he made "the sleepy treasurer's
office a policy powerhouse," and The Sacramento Bee praised him as
"the most effective and dynamic state treasurer in a generation."

As Treasurer, Angelides launched groundbreaking investment
initiatives to promote smart growth and to create jobs, housing, and
opportunities in inner cities. He put the weight of the state's
pension funds behind pioneering investments in energy efficiency and
environmental technology and the fight against global warming. He
mobilized pension funds and investors across the nation to usher in a
new era of corporate responsibility. And, he created innovative
programs to foster educational excellence and reform, and to expand
college opportunities.

In the private sector, Mr. Angelides pioneered the building of
smart growth communities in the 1980s long before the concepts of
sustainability were embraced by the marketplace. Among his ventures
was the town of Laguna West which was featured in Time, Newsweek, the
New York Times, U.S. News and World Report, and ABC-TV's "Good Morning
America," and sparked a national dialogue around building more
livable, environmentally responsible communities.

Mr. Angelides has been active in charity and the civic life of his
community and his state for over three decades. He was Chairman of the
California Democratic Party from 1991 - 1993, leading the campaign
that elected two women senators for the first time in any state's
history and that carried California for a Democratic presidential
candidate for the first time in 28 years. He currently serves as
National Chairman of the Apollo Alliance, a coalition of business,
labor, environmental, and community leaders committed to catalyzing a
clean energy revolution in America. He has received numerous awards
for his work, including the National Inner City Leadership Award from
the Initiative for a Competitive Inner City; the California League of
Conservation Voters' Environmental Leadership Award; and the Congress
for the New Urbanism's Lifetime Achievement Award.

Mr. Angelides is a graduate of Harvard University and completed
the Coro Foundation Public Affairs Fellows Program in Los Angeles.

for Canyon Capital Realty Advisors
Steve Sugerman, 310-689-7535
Steve@sugermangroup.com

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