Younan Properties Successfully Completes $84.5 Million CMBS Loan Pay‐Off
Los Angeles, April 4, 2011 ‐‐‐Younan Properties, Inc., a fully‐integrated, national real estate owner and manager of Class A office buildings in five major U.S. office markets announced that it successfully paid off a $84.5 million CMBS loan on three properties located in the Dallas Central Expressway submarket. The properties include 9400 North Central Expressway, Eighty‐Eighty Central and North Central Plaza III.
"We continue to take advantage of our strong balance sheet, which allowed us to pay off this loan early," said Zaya Younan, Chairman and CEO. Our short‐range goal is to de‐leverage our portfolio with strategically targeted pay‐offs. In the past two months, we have paid off more than $180 million of our near‐term debt," he added.
About Younan Properties
Younan Properties is a fully integrated, self‐administered and self‐managed owner and operator of primarily Class "A" office properties located in five major U.S. office markets, including Dallas, Chicago, Houston, Phoenix and Los Angeles. The portfolio consists of 35 office properties with nearly 11.0 million square feet of rentable space. Younan is a full‐service real estate company with in‐house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. For more information, visit www.younaproperties.com.
Contact: Denise Davis
818.703.9600 x 9705