Younan Sells New Park Executive Center for $8 Million Achieving 55% IRR

pdfNEWARK, Calif. November 2, 2004 Younan Properties Inc. (YPI), one of the fastest growing privately held commercial real estate investment firms in the United States, has sold New Park Executive Center a 59,000 SF, Class B office building located at 5900 Mowry School Road in Newark, Calif. Less than 15 months ago, Younan Properties purchased this building from Regis Realty for $5 million.

Utilizing YPI's 6-Sigma process, we were able to increase occupancy from 20% to 75% and reduce operating expenses from $9.10 to $5.35 in the 15 month holding period, said Zaya S. Younan, chairman & CEO of Younan Properties. This disposition is part of our plan to sell our non-core small office properties and replace them with larger Class A buildings in growing metropolitan office submarkets. Currently, we are on track to complete the re-positioning of our portfolio and results have been better than anticipated.

According to Mr. Younan, YPI repositioned this property by implementing an aggressive re-development effort and executed a major leasing program, which has resulted in a more positive image for the building and an increase in tenant occupancy.

The seller, Younan Properties, represented itself. The buyer, Litke Properties, Inc., was represented by Joe Lanyadoo of Union Square Realty and Steve Shain of Arroyo & Coates.

lgm 04 18 16 260 webYounan Properties invests and provides asset management services for Class A office properties, retail centers, golf courses and luxury resorts on behalf of private, corporate and institutional investors. Today, the company has assembled a fully scalable, international platform with a valuation of more than $1 Billion.

In 2015, the Company made its first investment in France through La Grande Maison Younan Collection, which acquires luxury resort properties. Château du Petit Chêne Hotel & Golf Course is located in Mazières-en-Gâtine. Recent luxury hotel acquisitions include Logis Saint Martin in Saint Maixent l’Ecole, and Chateau Germond in Germond-Rouvre.

Château du Petit Chêne Hotel & Golf Course

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