Robert Peddicord Appointed Chief Operating Officer of Younan Properties
LOS ANGELES, March 2, 2010 —Younan Properties, Inc., one of the nation's largest privately‐held real estate investment and asset management companies announced that it has appointed Robert C. Peddicord to the newly‐created position of Chief Operating Officer. Peddicord brings more than 22 years of executive experience in commercial real estate leasing and operational management with a publiclytraded REIT, Arden Realty, Inc., now a wholly‐owned subsidiary of GE Real Estate. He will leverage his experience to support Younan's growing portfolio of nearly 11 million square feet of Class "A" office buildings valued at more than $1.5 billion.
According to Zaya S. Younan, Chairman and CEO of Younan Properties, "Robert Peddicord brings significant commercial real estate experience and depth, which will help us to accelerate our growth. As COO, he will ensure effective management of the company's national real estate portfolio by providing strategic tenant services and operational direction to multiple divisions including property operations, leasing, construction and development, engineering and IT."
Peddicord noted that the Chief Operating Officer post at Younan Properties offers tremendous opportunity. "Younan Properties has earned nationwide recognition for its market leadership in real estate investment and asset management. To be part of this organization is a tremendous honor, and I am looking forward to leveraging my past experience to further accelerate the company's growth." "While other companies are downsizing or even exiting the market, Younan Properties continues to grow. As we expand our footprint in our target markets, it is imperative that we add a seasoned executive like Robert to help navigate our growth and execute our business plan," added Younan. Most recently, Peddicord served as the Chief Operating Officer of Arden Realty Inc. Prior to the acquisition of Arden by General Electric in 2006, Arden was a publicly‐traded REIT (NYSE:ARI), and the largest owner and operator of office space in Southern California. In May, 2006, Arden was sold to GE Real Estate for $4.8 billion in total enterprise value.
As a senior executive, Peddicord was an integral part of the management team at Arden who managed the growth and successful sale of the company. As COO, he was responsible for the acquisition and disbursement of more than $7 billion of commercial office space, generating more than $1 billion in gross profits, and was instrumental in growing the company from 4.2 million square feet to 18.5 million square feet over a six year period.
From 2001 to 2006 Peddicord served as Arden's Executive Vice President ‐ Operations and Leasing where he was responsible for the entire property operations of the portfolio. Peddicord joined Arden in 1996 as Vice President ‐ Leasing where he created an in‐house leasing program that managed 4 million square feet of transactions per year.
Peddicord began his career as Corporate Managing Director for Studley, a global tenant advisory firm headquartered in New York. A graduate of the University of California, Los Angeles, Peddicord serves as the Board Chair of Calvary Christian School in Pacific Palisades, Calif., and is a member of the Development Committee of the Board of Oaks Christian School in Westlake Village, Calif.
About Younan Properties, Inc.
Headquartered in Los Angeles, Younan Properties, Inc., is a fully integrated, self‐administered and selfmanaged owner and operator of primarily Class "A" office buildings located in five major U.S. office markets. Known for its detailed, hands‐on approach to improving operational efficiencies while maintaining top building standards for tenants, the company is recognized for its success in turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan has accumulated nearly 11 million square feet of well‐located office properties valued at more than $1.5 billion in California, Texas, Illinois and Arizona. Additional information about Younan Properties, Inc. can be found at www.younanproperties.com.
Contact: Denise Davis
818.703.9600 ext. 9705