DALLAS February 15, 2005 Wallace Bud Smith has joined Younan Properties Inc. (YPI), one of the fastest growing privately held commercial real estate investment firms in the United States, as senior vice president of technical operations and new development. He will be based in the firm's Dallas, Texas office.
With more than 30 years of experience in institutional asset management and commercial real estate, Mr. Smith will be responsible for bringing continuity to the building operational management component of YPI's commercial portfolio on a nationwide basis.
Wallace's extensive knowledge in facility management and engineering coupled with his intuitive capability to analyze a building's infrastructure will accelerate our current progress to achieve world-class operating standard and 6-sigma efficiency milestone for all of our assets, said Zaya S. Younan, chairman and CEO of Younan Properties. His more than 30 years of experience and accomplishment in the commercial real estate industry will be instrumental to support our growth and operational cost reduction activity.
Prior to joining Younan Properties, Mr. Smith served as senior vice president of national operations for one of the most respected and diversified service firms in the United States - Lincoln Property Company (LPC). For more than 18 years, Mr. Smith was responsible for developing a national program for LPC-owned and third-party management contracts including bundling power, negotiating retail and free wheeling contracts.
In addition, Mr. Smith is the co-founder of Lincoln University, an educational program that teaches asset managers, property managers and corporate level engineers in energy conservation methods and engineering principles.
As an investment firm, YPI takes a very distinctive and exciting approach to the commercial industry, said Smith. It is inspiring to work with Mr. Younan, who is eager to increase asset value by creating unique programs which will optimize building operations.
Mr. Smith is also the author of numerous articles which have been published in various trade magazines including District Heating and Cooling and American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE). He is also licensed as a class C chief engineer in the state of Minnesota. His past memberships include Sheet Metal Workers International and International Union of Operating Engineers.