REAL ESTATE

Magic Johnson Teams With CalPERS: The California Public Employees’ Retirement System and a partnership that includes the Lakers basketball star will invest $51.5 million in retail real estate development in predominantly minority neighborhoods. CalPERS, which tentatively approved the venture last year, will contribute $50 million and Magic Johnson and his partner, San Francisco real estate investment advisor Victor B. MacFarlane, will put up $1.5 million. The venture, called California Urban Investment Partners, will be aimed at primarily minority communities in Los Angeles, San Francisco, Oakland and other cities that are considered underserved by retailers.