News and Events - 2006

pdfClass A Acquisition Brings Younan Properties' Holdings in Chicago's Northwest Office Market to 420,000 Square Feet

ARLINGTON HEIGHTS, IL (January 9, 2006) On the heels of its acquisition in December 2005 of Embassy Plaza in Schaumburg, Ill., Woodland Hills, Calif.-based Younan Properties, Inc. (YPI), one of the fastest-growing, privately held real estate investment groups in the country, has added One North Arlington in Arlington Heights, Ill. to its portfolio of Class A office properties in Chicago's northwest suburbs.
Younan Properties purchased the seven-story, 158,879-square-foot office building at 1500 West Shure Dr. in Arlington Heights from Kennedy Associates, headquartered in Seattle. Younan Properties represented itself in the transaction. James J. Postweiler, managing director-capital markets for Jones Lang LaSalle of Chicago, represented the seller.

We have made steady progress leasing our existing buildings in Chicago's northwest office market and we will continue to buy new buildings as long as this positive trend continues, said Zaya S. Younan, chairman & CEO of Younan Properties, Inc. The Chicago office market is recovering from the 2001 recession due to the recent positive absorption in the market, which supports this outlook. We also see the beginning of significant flow of funds in the Chicago market and strength in manufacturing and office employment.

Built in 1986, One North Arlington is a seven-story office building located at the intersection of Route 53 and Dundee Road in Chicago's northwest suburban office submarket. It is currently 96% occupied by major tenants that include State Farm Automobile Insurance Company and AMCOL International, both of which have leased space in the building since it was built. The property offers easy access to Interstates 90 and 290, and is located only 19 miles from O'Hare International Airport and 26 miles from downtown Chicago.

Younan Properties' professionalism and exceptional attention to detail was a major factor in the successful completion of this transaction, observed Postweiler. Zaya Younan and his team are aggressive deal makers who work to overcome issues as they arise. It was refreshing to have both a client like Kennedy Associates and a buyer like Younan Properties maintain the focus on achieving a sale that was good for both parties.

One North Arlington is Younan Properties' third major acquisition in suburban Chicago. The closing brings the firm's holdings in Northwest Chicago to 420,000 square feet of Class A office space nearly halfway to its goal of acquiring at least one million square feet in 2006. Along with Embassy Plaza, a 140,196-square-foot seven-story Class A office building, Younan Properties' owns Prairie Stone Commons, a 110,000-square-foot Class A office complex in Chicago.

Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan Properties' management team has more than four decades of experience in developing and managing commercial real estate in high growth markets throughout the United States. Headed by Zaya S. Younan, Younan Properties has accumulated more than $600 million in real estate holdings since its inception in 2002. The company's national portfolio currently includes 20 Class A office properties totaling more than 4.6 million square feet.

pdfFast-growing investment firm records strongest year to date with purchase of 10 Class A office properties in high-growth markets across the U.S.

WOODLAND HILLS, CA (January 16, 2006) In a year of exceptional expansion, Woodland Hills, Calif.-based Younan Properties, Inc. (YPI), one of the fastest-growing, privately held real estate investment groups in the country, acquired 10 Class A office properties in 2005 totaling 2.6 million square feet. Its successful campaign to grow and improve the quality of its assets also included the disposition of six Class B office buildings sales that delivered an average return of 45% to its investors.

The portfolio upgrade yielded a boost in the average size and occupancy of YPI properties. The median size of Younan Properties' office buildings rose from 120,000 square feet to 350,000 square feet, while average occupancy climbed from 67% to more than 85% in 2005. With a dual focus on operational efficiencies and tenant satisfaction, Younan Properties increased the average gross revenue and average net operating income per-building, per-square-foot by more than 32%.

We're extremely proud of what we accomplished in 2005, and we are now in a very strong position for accelerated growth in 2006, said Zaya S. Younan, chairman and CEO of Younan Properties, Inc. Our evolution into one of the fastest-growing commercial real estate companies in the country and one of the best office landlords will be solidified next year, as we achieve our goal of acquiring another five million square feet of Class A office space in some of the country's most promising submarkets.
Noteworthy 2005 acquisitions for YPI include:

ARIZONA

  • Four Gateway, a four-story, 138,000-square-foot office building located at 444 North 44th Street near the Phoenix/Sky Harbor Airport in Phoenix, Arizona. Major tenants include Value Option and Eclypsis.

FLORIDA

  • Southpoint Executive Center, a four-story, 136,000-square-foot, institutional quality, Class A office building located at 151 Southhall Lane in Maitland, Florida. Noteworthy tenants include Ford Motor Credit, Sprint and Voit Brokerage Co.

ILLINOIS

  • Embassy Plaza, a seven-story, 140,196-square-foot office building located at 1933 North Meacham Road in Schaumburg, Illinois. Major tenants include ConAgra, Bakemark Ingredients, Tellabs Operations and Bechtel Corporation.
  • One North Arlington, a seven-story, 158,879-square-foot office building located at 1500 West Shure
    Drive in Arlington Heights, Illinois. Major tenants include State Farm Automobile Insurance Company and AMCOL International.
  • Prairie Stone Commons, a three-story, two-building office property totaling 110,000 square feet located at 5401 & 5407 Trillium Blvd. in Chicago, Illinois. Major tenants include Sears, Levis Strauss & Co, Maytag, Whirlpool, SERTA, Frigidaire and John Deere.

TEXAS

  • North Central Plaza, a 16-story, 346,575-square-foot tower located at Dallas' second busiest intersection, at the southwest corner of the LBJ Freeway and North Central Expressway. Major tenants include Snelling & Snelling, Marc USA, Trinity Consultant, Bridgefarmer & Associates, Inc. and Interlink-Partners.
  • Eighty-Eighty Central, a 17-story, 283,707-square-foot high-rise located in the heart of Dallas' North Central Expressway submarket, just one block from a Dallas light rail system stop. Major tenants include Compass Bank, Health Texas Provider and Maynord Oil Company.
  • 9400 Plaza, a 16-story, 379,556-square-foot office building strategically located in the North Dallas area on North Central Expressway between Walnut Hill Lane and Park Lane. Major tenants include Milliman & Robertson, Benefit Partners, Promotion Network and Kennedy Wilson Properties.
  • Four Forest Plaza, a 19-story, 395,000-square-foot contemporary office building located at 12222 Merit Drive, near Highway 75 and Interstate 635 in North Dallas. Major tenants include Zurich US, ACIG Insurance, Lee Financial Corporation, International Risk Management and Huselton & Morgan.
  • Lakeside Square, a modern 18-story, 398,000-square-foot lakefront office building located at 12377 Merit Drive in north suburban Dallas at the intersection of the LBJ Freeway and North Central Expressway. Major tenants include National City Mortgage, Towers Perrin Forster, CH2M Hill, Federal Liaison Services, and Exco Resources.

Younan Properties' bid for continued growth calls for a continued focus on acquisitions in Florida, Illinois and Texas, as well as other areas of the Southwest. The firm plans to expand its dominant presence in Dallas, where it is now the second-largest office property owner, as well as Chicago's northwest suburbs.

Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan Properties' management team has more than four decades of experience in developing and managing commercial real estate in high growth markets throughout the United States. Headed by Zaya S. Younan, Younan Properties has accumulated more than $600 million in real estate holdings since its inception in 2002. The company's national portfolio currently includes 20 Class A office properties totaling more than 4.6 million square feet.

pdf206,680-square-foot high-rise strengthens Younan Properties' dominance in the Southwest office market and advances campaign to acquire five million square feet of Class A office space in 2006

HOUSTON, TX (February 13, 2006) Continuing its pattern of aggressive expansion in the country's most promising submarkets, Woodland Hills, Calif.-based Younan Properties, Inc. (YPI), has announced the acquisition of Norfolk Tower, a 206,680-square-foot Class A high-rise located at 2211 Norfolk Street in Houston, Texas.

Younan Properties purchased the 11-story office property from ING Clarion, based in Boston, Mass. Younan Properties represented itself in the transaction. John S. Dailey, executive vice president/managing director private client services for PM Realty Group in Houston, represented the seller.

After several years of decline, the Houston office market is showing clear signs of recovery and we are very confident about a continuing upward trend, said Zaya S. Younan, Chairman & CEO of Younan Properties, Inc. Leasing activity is strong, rents have started going up, vacancy rates have declined, and we believe this is the prime time to capitalize on the upswing.

Built in 1982, Norfolk Tower is set on 2.36 acres along Highway 59 at Greenbriar Street, minutes from Rice University as well as the renowned Texas Medical Center. The rich brick masonry office building is currently 75% occupied by major tenants that include Frost Bank, Houston Medical Records, Inc., Groundwater Services, Global Search Consulting, L.P. and TranSystems Corporation. Surrounding the property are some of Houston's most affluent neighborhoods, including River Oaks, West University Place, Southampton and Montrose.

Zaya Younan and his team are smart, aggressive investors, and we were impressed with their professionalism and meticulous attention to detail in this transaction, observed John S. Dailey, PM Realty Group executive vice president/managing director private client services.

Norfolk Tower is Younan Properties' fourth acquisition in Houston. The firm currently owns Wilcrest Executive Building, a three-story multi-tenant building with 68,000 square feet in the Energy Corridor of West Houston. In Dallas, Younan Properties is the second largest office landlord, with a portfolio of seven prime properties totaling 2.7 million square feet of Class A office space.

In 2006, Younan Properties aims to acquire another five million square feet of Class A office space in high-growth markets, with a focus on acquisitions in Texas, Florida, Illinois and other areas of the Southwest.

Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan Properties' management team has more than four decades of experience in developing and managing commercial real estate in high growth markets throughout the United States. Headed by Zaya S. Younan, Younan Properties has accumulated more than $800 million in real estate holdings since its inception in 2002. The company's national portfolio currently includes 21 Class A office properties totaling more than 4.8 million square feet.

pdfWOODLAND HILLS, CA (February 20, 2006) Younan Properties, Inc. (YPI), one of the fastest-growing, privately held real estate investment groups in the country, announced today it has hired Michael O'Donovan as Controller. In this critical role, Mr. O'Donovan will be responsible for furthering development of the accounting and finance activities and processes that will support Younan Properties' rapid expansion and planned growth in key, high-growth office markets throughout the United States.

Mr. O'Donovan brings more than 25 years of experience as a senior financial executive for both privately held and publicly-traded companies to his new position at Younan Properties. Over the course of his career, Mr. O'Donovan has been involved in the acquisition and integration of more than 80 companies.

Prior to joining Younan Properties, Mr. O'Donovan served as Chief Financial Officer for STK International, Inc., with offices in the United States and China. Over the past decade, he also served as Chief Financial Officer for Los Angeles, Calif.-based Rembrandt Photo Services and Thompson PBE, Inc. (NASD: THOM) headquartered in Marina del Rey, Calif. Earlier in his career, he served as Director of Accounting for Retix (NASD: RETX) and as a manager with Price Waterhouse.

Michael's extensive experience as Corporate Controller and Chief Financial Officer for both privately held and publicly-traded companies will be a tremendous asset to improve our financial organization and improve our reporting system to support the phenomenal growth we anticipate in the foreseeable future, said Zaya Younan, Chairman and CEO of Younan Properties, Inc. With his multi-national background and broad expertise in accounting and cost controls, he will be a key support member of our management team.

Most recently, Younan Properties added Norfolk Tower, an 11-story, 206,680-square-foot Class A high-rise in Houston, Texas and One North Arlington, a seven-story, 158,879-square-foot Class A office building in Arlington Heights, Illinois to its $800 million portfolio. The recent acquisitions bring Younan Properties' 35-building national portfolio to more than 6.5 million square feet of prime office space.

Mr. O'Donovan earned a Bachelor of Science degree in Accounting from the University of La Verne, and is also licensed as a Certified Public Accountant.

Younan Properties' rapid growth and high investor returns reflect the benefits of bringing the best practices and operating disciplines from other industries to commercial real estate, Mr. O'Donovan commented. I'm confident that my experience in the distribution, manufacturing and service industries will contribute to Younan Properties further development of the innovative practices that have contributed to its reputation as a forward-thinking, highly progressive leader in the commercial real estate industry.

pdfSEIU Local I janitors are back on the job and providing top-notch services at Younan Properties' Embassy Plaza, One North Arlington and Prairie Stone Commons in Northwest Chicago

WOODLAND HILLS, CA (March 6, 2006) Younan Properties has announced the successful resolution of a labor dispute with Service Employees International Union (SEIU) Local 1 with an agreement that put a handful of union janitors back to work at the Woodland Hills, Calif.-based firm's three Class A office buildings in Northwest Chicago. With ABM Lakeside union crews now in place at Embassy Plaza, One North Arlington and Prairie Stone Commons, Younan Properties is effectively fulfilling its responsibility to both investors and tenants in providing the most efficient and cost effective management of its Class A office properties.

We strongly believe that unions, their affiliates and Local 1 in Chicago have had a positive impact on the productivity of the U.S. workforce, said Zaya S. Younan, Chairman & CEO of Younan Properties, Inc. Reaching back to America's Great Depression, we have had many family members involved in this great labor movement, which has benefited our nation. However, we at Younan Properties, Inc. will continue to search for the most efficient and cost effective way to manage our buildings for our investors and tenants. This is our fiduciary responsibility, and one that we take seriously.

Younan has much to be serious about since Chicago is an area his firm has targeted for aggressive expansion over the next year. With a $1 billion acquisition goal in Northwest Chicago, Younan Properties is poised to become one of the submarket's largest landlords, as it prepares to more than double its current 420,000 square feet of Class A office space in 2006. Managing its assets with a keen eye for operational efficiencies and the most cost effective service providers available will be critical in maintaining top standards for tenants while turning optimal profits for investors.

I am pleased we were able to reach common ground with Service Employees International Union and its Local 1 in Chicago to develop a win-win partnership going forward, stated Zaya S. Younan. I am glad that we have established a working relationship with Service Employees International Union Local 1 early on in our growth path, as we will continue to grow our portfolio nationally.

Brad Hanewall, YPI's property manager at Embassy Plaza and One North Arlington also expressed satisfaction with the resolution. Continual evaluation of all service agencies is essential in staying competitive in the marketplace and in fulfilling our obligations to all who have placed faith in Younan Properties' superior office management capabilities, he said. ABM Lakeside is now providing exceptional services with superior attention to detail, for competitive wages that should provide an incentive for top productivity.

According to Daniel Schlademan, Vice President of the Service Employees International Union Local 1, which represents 42,000 workers in Illinois, Missouri and Wisconsin, the agreement will produce long-term savings for Younan Properties by providing good living wages and benefits that contribute to lower rates of turnover and higher productivity.

We regret any inconvenience caused by the misunderstanding between SEIU Local 1 and Younan Properties and we are pleased to acknowledge that we have come to an agreement, he said. We are extremely pleased to be allied with this pro-active firm in a contract that celebrates the value of our organization and provides good living wages and benefits for our members. Our new win-win alliance will enable Younan Properties to maintain its competitive advantage in office property management while demonstrating its faith and support of union labor. We now look at the strong working relationship we've established with Younan Properties as the beginning of a very positive professional partnership."

Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan Properties' management team has more than four decades of experience in developing and managing commercial real estate in high growth markets throughout the United States. Headed by Zaya S. Younan, Younan Properties has accumulated more than $800 million in real estate holdings since its inception in 2002. The company's national portfolio currently includes 21 Class A office properties totaling more than 4.8 million square feet.

pdfDallas' second largest landlord absorbs twice the percentage of space in final quarters of 2005 as the market did during the entire year

DALLAS, TX (March 7, 2006) During six months of remarkable 2005 year-end activity, Woodland Hills, Calif.-based Younan Properties, Inc. (YPI), posted occupancy increases at five of its Dallas properties acquired in the final quarters of 2005. With the successful renewal of a total of 147,634 square feet and over 62,000 square feet of new leases, the firm increased overall occupancy of its recent acquisitions by 11.6% in office properties along the Central Expressway in less than six months of ownership. The Central Expressway market posted negative absorption for the third and fourth quarters of 2005.

According to 2005 CoStar Realty Information, third and fourth quarter absorption in Dallas' Central Expressway submarket was negative 104,455 square feet.

At Younan Properties' Class A assets, a total of 23 out of 25 renewal opportunities were completed in last year's final quarters more than 95% of the total square footage that came up for renewal. In outpacing the recovering market, Younan Properties, Dallas' second largest landlord, was able to successfully stabilize more than 10% of its recently acquired portfolio with laudable renewal activity.

Our positive leasing score card is a clear message from our tenants that highlights Younan Properties' superior office property management capabilities and practices, said Zaya S. Younan, Chairman & CEO of Younan Properties, Inc. Even in the most challenging of markets, our in-house management teams consistently identifies building upgrades and renovations that make the highest impact on improving tenant satisfaction, resulting in accelerated lease negotiations and increased building occupancies. In addition to increasing the occupancy on this recently acquired portfolio, we were also able to reduce operating expenses as much as 20% in less than six months, said Younan.

I would like to thank everyone in believing in our firm and the positive impact we could have on this large acquisition, especially our lender, Countrywide, Commercial Real Estate Finance, said Younan.

Managed by Larry Blankenship, Younan Properties' Senior Vice President of Asset Management-Texas, Younan Properties' Dallas portfolio includes seven Class A assets. Especially notable were occupancy increases of close to 6% at 9400 Plaza (now 84% occupied), more than 4% at Four Forest (now 81% occupied) and close to 4% at Lakeside Square (now 86% occupied). Increases of more than 1% were recorded at Eighty-Eighty Central (now 87% occupied) and North Central Plaza (now 72% occupied).

Every one of our Dallas assets achieved positive absorption in the first six months of ownership, due to superior management and keen attention to continuous improvement, Blankenship noted. This puts us far ahead of our competition and gives us renewed cause for optimism about the market upswing we identified when these properties were acquired last fall.

Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan Properties' management team has more than four decades of experience in developing and managing commercial real estate in high growth markets throughout the United States. Headed by Zaya S. Younan, Younan Properties has accumulated more than $800 million in real estate holdings since its inception in 2002. The company's national portfolio currently includes 21 Class A office properties totaling more than 4.8 million square feet.

pdfDallas' second largest landlord continues to outpace the market with new tenants and expanded renewals in suites of more than 10,000 square feet

WOODLAND HILLS, CA (March 14, 2006) In its ongoing commitment to maintaining superior occupancy at its Class A Dallas office buildings, Woodland Hills, Calif.-based Younan Properties Inc. (YPI), one of the fastest-growing, privately held real estate investment groups in the country, has completed a quartet of leasing transactions for suites of more than 10,000 square feet. A total of 63,283 square feet has been leased at Younan Properties' three high-rises in Dallas' Central Expressway and LBJ Freeway submarkets.

We place a high priority on providing the amenities, upgrades and operational efficiencies that add up to an elevated degree of tenant satisfaction resulting in lease renewals and new lease contracts, said Zaya S. Younan, Chairman & CEO of Younan Properties, Inc. With a total of 2.7 million square feet in its Dallas portfolio, Younan Properties is the city's second largest landlord.

At 9400 NCX Plaza, a 16 story tower located on the North Central Expressway Freeway between Walnut Hill Lane and Park Lane, two tenant expansions will bring occupancy to more than 84%, an increase of 6% since the Class A office building was acquired in September 2005. Corporate wellness company, WinningHabits, will almost triple its leased space, expanding from 9,136 square feet to new offices occupying the entire 25,136-square-foot seventh floor. The extended five year lease commences this month for the seven-year-old company on a mission to inspire winning habits that result in personal and organizational wellness. Bennett Morgan of Southtrust Real Estate, Inc. represented the tenant. James Esquival, Jeff Eckert and Russ Johnson of Trammell Crow Company represented Younan Properties.

At the same property, full-service Certified Public Accounting firm Smith, Jackson, Boyer & Bovard, P.L.L.C. has relocated from 9,070-square-foot fourth floor offices to expanded space totaling 11,993 square feet on the ninth floor. Sanders Thompson of NAI Stoneleigh Huff Brous McDowell represented the tenant for the five year commitment. James Esquival, Jeff Eckert and Russ Johnson of Trammell Crow Company represented Younan Properties.

Younan Properties is an exceptional landlord with a keen eye for detail and an aggressive commitment to the market, Esquivel commented. We were impressed with their diligence and creativity in bringing both of these tenant expansion transactions to a successful close.

9400 NCX provides an exceptional location for our firm, with outstanding accessibility for clients and employees, said Jim Smith, managing director of Smith, Jackson, Boyer & Bovard, P.L.L.C. Our expanded offices offer a quality professional environment with a more functional layout and improved external exposure. The building's well-maintained common areas contribute to an attractive place for doing business.

At Lakeside Square, located at 12377 Merit Drive in north suburban Dallas at the intersection of the LBJ Freeway and the North Central Expressway, high profile law firm Loewinsohn Flegle L.L.P. has signed a new lease to occupy 14,956 square feet on the ninth floor. Drew Kaplan of Drew Kaplan Commercial Real Estate Services represented the tenant in the ten year lease. Celeste Signor and Amanda Farmer of Grubb & Ellis' Dallas office represented Younan Properties. Lakeside Square is now 86% occupied up from 82% since its acquisition in October 2005.

Completing the quartet of Dallas leases in excess of 10,000 square feet is a five year agreement for 11,198 square feet at One Graystone Centre by global software and services firm Quovadx, Inc. (Nasdaq: QVDX). The Greenwood Village, Colorado-based company is a new fourth floor tenant at the Class A office complex located at 3010 LBJ Freeway. Maureen Kelley of The Staubach Company represented Quovadx, Inc. Deborah Boles of The John Bowles Company represented Younan Properties.

Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan Properties' management team has more than four decades of experience in developing and managing commercial real estate in high growth markets throughout the United States. Headed by Zaya S. Younan, Younan Properties has accumulated more than $800 million in real estate holdings since its inception in 2002. The company's national portfolio currently includes 21 Class A office properties totaling more than 4.8 million square feet.

pdfNew tenant will occupy two entire floors and a portion of another floor in 20-story Class A high rise

LOS ANGELES, CA (March 20, 2006) In one of its largest single lease transactions in its Phoenix portfolio to date, Los Angeles, Calif.-based Younan Properties Inc. (YPI), one of the fastest-growing, privately held real estate investment groups in the country, has announced completion of a lease agreement for 74,495 square feet of space at its Meridian Bank Tower in Phoenix, Ariz. to the Arizona Department of Water Resources (ADWR).

We were extremely proactive in tailoring this lease to the specifications and requirements of this major tenant, said Zaya Younan, Chairman and CEO of Younan Properties, Inc. Our ability and willingness to adapt space on multiple floors and to create outstanding value in both office space and common areas were key factors in achieving the tenant satisfaction needed to successfully close this transaction.

The new tenant will occupy the entire second and fourth floors, as well as a portion of the third floor, at the 275,000-square-foot, 20-story Class A high rise located at 3550 North Central Avenue in the heart of the North Central business corridor. Gary Gregg of Fulton Andrew Cresa Partners represented the tenant in the transaction. John W. Bonnell of Trammell Crow Company represented the landlord, Younan Properties.

This was a challenging transaction that required close attention to timing and to meeting the needs of a public service provider, commented Gregg. Younan Properties was extremely straightforward in their proposal and very flexible in handling all space solutions. We were especially impressed by the quick response time from senior Younan Properties management.

According to Ron Gray, Assistant Director of Administration for the Arizona Department of Water Resources, his firm selected the Meridian Bank Tower after a comparative survey of available office space in desirable Phoenix locations. Our new location is convenient for employees and visitors, with excellent access to public transportation, restaurants, banks and other services, he said. We found Younan Properties to be highly responsive in meeting our needs and in resolving all details of the transaction.

ADWR signed a 48-month lease. From its new facilities, ADWR will continue its mission to secure long-term dependable water supplies for Arizona's communities.

In addition to Meridian Bank Tower, Younan Properties owns Four Gateway, a 138,000-square-foot office building, and Central Plaza, a 400,000-square-foot high rise, in Phoenix.

Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan Properties' management team has more than four decades of experience in developing and managing commercial real estate in high growth markets throughout the United States. Headed by Zaya S. Younan, Younan Properties has accumulated more than $800 million in real estate holdings since its inception in 2002. The company's national portfolio currently includes 21 Class A office properties totaling more than 4.8 million square feet.

pdfIndependent energy company will occupy two entire floors at the 18-story high-rise in north suburban Dallas, bringing occupancy at the Class A lakeside property to 90 percent

LOS ANGELES, CA (March 28, 2006) With the expansion of its offices from 33,463 to 47,860 square feet, EXCO Resources, Inc. will occupy the entire 16th and 17th floors of Younan Properties' Lakeside Square in north suburban Dallas. The seven-year transaction brings occupancy at the 398,000-square-foot Class A office building at 12377 Merit Drive to 90 percent.

Our emphasis on tenant satisfaction is continually reflected in our retention of quality, long-term tenants like EXCO Resources, said Zaya S. Younan, Chairman & CEO of Younan Properties, Inc., one of the fastest-growing, privately held real estate investment groups in the country. We take great pride in our ability to maintain high occupancy at all of our properties through superior tenant amenities and services.

Doug Miller, EXCO Resources' Chairman of the Board and Principal, represented the tenant in the transaction. Celeste Signor, Amanda Farmer and Moody Younger of Grubb & Ellis represented the landlord, Younan Properties. The lease was completed in mid-March, with a target commencement date of July 1, 2006. Prior to opening their Lakeside Square offices, EXCO Resources was located at 6500 Greenville Avenue in Dallas.

Since acquiring some of the premier assets in Dallas last fall, Younan Properties has continually improved its properties, resulting in impressive occupancy rates, commented Celeste Signor, Vice President of Grubb & Ellis in Dallas. Their senior management is quick to make decisions and has been very responsive in coming up with solutions to successfully complete transactions.

As Dallas' second largest landlord, Younan Properties owns a total of 2.7 million square feet of Class A office space in the city. In addition to Lakeside Square, its Dallas portfolio includes Four Forest Plaza, 9400 Plaza, Eighty-Eighty Central, North Central Plaza, Graystone Centre, Meridian Center and the Wilcrest Executive Building.

Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan Properties' management team has more than four decades of experience in developing and managing commercial real estate in high growth markets throughout the United States. Headed by Zaya S. Younan, Younan Properties has accumulated more than $800 million in real estate holdings since its inception in 2002. The company's national portfolio currently includes 21 Class A office properties totaling more than 4.8 million square feet.

pdfNew lease for 54,822 square feet includes three entire floors and a portion of another in two buildings at the campus-style, 20-story Class A high-rise

LOS ANGELES, CA (April 4, 2006) Los Angeles, Calif.-based Younan Properties, Inc. has completed a 120-month lease for 54,822 square feet at Central Plaza, located at 4041 North Central Plaza in Phoenix, Ariz., with Phoenix International School of Law. Beginning in August, the private law school will occupy a portion of the first floor and the entire second and third floors of the 20-story Tower Building, plus the entire second floor of Building C of the 400,000-square-foot Class A campus-style office property. Phoenix International School of Law is currently located at 15011 N 75th Street in Scottsdale, Arizona.

Jay Hoselton, Senior Director of Cushman & Wakefield, represented the tenant, known as PhoenixLaw, in the transaction. Bill Zurek, Senior Vice President of Transwestern Commercial Services, represented Younan Properties.

We take great pride in being able to provide a superior campus environment for this growing academic institution, said Zaya Younan, Chairman & CEO of Younan Properties, Inc. We were able to attract this new, quality tenant through a combination of strategic location, responsive management, exceptional amenities and quality of space that exceeds tenant expectations.

According to Hoselton, Central Plaza was selected for the 150-student campus after a thorough area property search offering ample parking, proximity to public transportation, an onsite cafeteria and a landscaped, campus-style environment. We looked at numerous properties before signing this lease and found that the garden buildings of this well-maintained high rise offered the best economics, the best parking and the best overall amenities for a professional school, he said. Younan Properties was extremely accommodating in all negotiations and met all of our requirements for Phoenix International School of Law's new location.

With plans to more than triple its student body within three years and to double its campus size within a decade, Phoenix International School of Law required a facility that would offer room to grow.

Younan Properties was both responsive and creative in providing flexible solutions for future scenarios, observed Bill Zurek of Transwestern Commercial Services, who brokered the deal for the fast-growing, privately-held real estate investment company.

In addition to Central Plaza, Younan Properties owns Four Gateway, a 138,000-square-foot office building and Meridian Bank Tower, a 275,000-square-foot high rise in Phoenix.

Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan Properties' management team has more than four decades of experience in developing and managing commercial real estate in high growth markets throughout the United States. Headed by Zaya S. Younan, Younan Properties has accumulated more than $800 million in real estate holdings since its inception in 2002. The company's national portfolio currently includes 21 Class A office properties totaling more than 4.8 million square feet.