News and Events - 2007

pdfNow the top office landlord in Dallas and the second largest in all of Texas, fast-growing investment firm is on track to build strength in Chicago, Houston and other high-growth markets across the U.S.

LOS ANGELES, CA (January 24, 2007) In another year of exceptional growth, Younan Properties, Inc. (YPI), one of the fastest-growing, privately held real estate investment groups in the country, has announced that it acquired 5.5 million square feet of prime Class A office space in 2006, more than double the square footage it acquired in 2005. With the acquisition of 12 Class A office properties in Chicago, Dallas and Houston, the firm strengthened its position in markets where it has identified strong fundamentals and demographic factors that will sustain a period of solid recovery.

Continuing its goal to grow and improve the quality of its assets, YPI sold four office buildings in 2006. Its dispositions last year included the $50.5 million sale of Sepulveda Center in Los Angeles, a transaction that generated an impressive 125% annual IRR and a total return of more than 300% on invested capital in just two and one half years of ownership. With the sale of Pacific Pointe in Gardena, CA, YPI divested its portfolio of California assets last year. This $58 million sale generated an 86% annual IRR and a total return of more than 240% on invested capital. Over the entire year, YPI delivered an average leveraged IRR of 65% to its investors in 2006, reinforcing its reputation for consistently maximizing opportunities and improving efficiencies in diverse office markets across the U.S.

Younan Properties' 2006 portfolio upgrade yielded a boost in the average size and occupancy of its properties. The median size of YPI office buildings rose from 280,000 square feet to 400,000 square feet, while average occupancy climbed from 75% to more than 91% in 2006. With a dual focus on operational efficiencies and tenant satisfaction, YPI increased the average gross revenue and average net operating income per-building, per-square-foot by more than 48% over the year.

In just four years, Younan Properties has completed a total of 60 transactions. In its largest transaction to date, it outshined numerous competitors last year in acquiring the 2.1 million-square-foot Transwestern office portfolio. The purchase of seven Class A properties brought its Dallas holdings to 4.7 million square feet and its Chicago assets to two million square feet of prime, Class A rentable space.

Last year was a period of phenomenal growth for Younan Properties, in which we substantiated our ability to outpace competitors through our superior knowledge of office market fundamentals and demographic factors in high-growth areas across the country, said Zaya S. Younan, chairman and CEO of Younan Properties, Inc. By understanding our product and the services we deliver better than anyone in the industry, we have exceeded our past accomplishments and set the stage for accelerated growth in 2007.

With a focus on Class A acquisitions in Chicago, Dallas and Houston, YPI has plans for significant expansion in the year ahead. Bringing its nationwide portfolio to more than eight million square feet of Class A properties valued at approximately $2.5 billion, its 2006 acquisitions included:

Chicago & surrounding suburbs

  • 200 North LaSalle, a 630,000-square-foot, Class A high-rise in the heart of downtown Chicago's Central Business District. The 30-story trophy skyscraper is 92% occupied by tenants that include St. Paul Travelers, AMA Insurance, Inc., Broadwing Financial Services, and Interpark Holdings.
  • 1600 Corporate Center, a 12-story Class A office building at 1600 East Golf Road, directly north of the Northwest Tollway (I-90) in Rolling Meadows. The 254,448-square-foot mid-rise is 76% leased to tenants that include Countrywide Financial, HQ Global Workplaces, General Services Administration and Heico Ohmite Holding, LLC.
  • Bannockburn Corporate Center, a three-story Class A office building at 3000 Lakeside Drive in Bannockburn, in the Northbrook/Tri-State submarket of north suburban Lake County. The 205,402-square-foot property is 80% leased to tenants that include GE Capital, GCG Financial, IPC and IBM.
  • Kensington Corporate Center, a four-story Class A office building at 1160 Feehanville Drive in Mount Prospect with 85,487 rentable square feet. The building is 100% leased by Metropolitan Life.
  • One North Arlington, a seven-story, 158,879-square-foot office building at 1500 West Shure Drive in Arlington Heights. It is 96% occupied by tenants that include State Farm Automobile Insurance Company and AMCOL International.
  • 211 East Ontario, an 18-story high-rise in downtown Chicago, along the stretch of North Michigan Avenue that is synonymous with world class shopping. The 172,000-square-foot building is 92% occupied with tenants that include Berman Center LLC, FireStar Communications, The Focus Centre of Chicago, LKH&S, Inc., and Ruder Finn, Inc.

Dallas

  • Energy Square I, a 14-story tower at 4925 Greenville Avenue at the Central Expressway. The 254,338-square-foot high-rise is 94% occupied with tenants that include Degolyer & MacNaughton, National Energy Group and Five States Energy Company.
  • Energy Square II, a 16-story tower at 4849 Greenville Avenue at the Central Expressway. The 357,626-square-foot high-rise is 81% occupied with tenants that include Sears Roebuck and Co., New York Life Insurance Company, Fanning, Harper & Martinson, and Oaks Bank & Trust.
  • Energy Square III, a 16-story tower at 6688 North Central Expressway. The 296,624-square-foot high-rise is 84% occupied with tenants that include Hartline, Dacus, Barger, Dreyer & Kern, L.L.P., DAVACO, Inc., Jacobs Engineering and Advanced Homecare.
  • KPMG Centre, a 900,000-square-foot skyscraper at 717 North Harwood Street in downtown Dallas. The 34-story tower in the high-rent, 62-acre Arts District is 87 percent leased by tenants that include major accounting firm KPMG, JP Morgan Chase Bank, Lockton Insurance, Odyssey Healthcare, the U.S. Department of Justice and several regional law firms.
  • Galleria Plaza, a 12-story office building at 4851 LBJ Freeway. The 190,000-square-foot tower in the high-rent Dallas North Tollway neighborhood leading to the Metroplex is 74 percent leased to tenants that include BenefitMall, Matrix Resources, CBIZ Valuation Group, American Re-Insurance, and the Dallas office of The Associated Press.

Houston

  • Norfolk Tower, a 206,680-square-foot property at 2211 Norfolk Street. The 11-story building is 75% occupied by tenants that include Frost Bank, Houston Medical Records, Inc., Groundwater Services, Global Search Consulting, L.P., and TranSystems Corporation.

Known for its detailed, hands-on approach to improving operational efficiencies while providing exceptional space solutions and 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, YPI has accumulated approximately $2.5 billion in real estate holdings since its inception in 2002. The company's national portfolio currently includes 25 Class A office properties totaling more than eight million square feet.

About Younan Properties, Inc.

Headquartered in Los Angeles, CA, Younan Properties, Inc., a real estate investment group, specializes in acquiring Class A office properties in high-growth markets throughout the United States. As one of the fastest growing, privately held real estate investment groups in the country, the company is especially adept at turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan Properties creates immediate value. In fact, the company has delivered to its investors an average leveraged IRR of 65% on properties sold to date.

Since founding the company in 2002, Zaya S. Younan has accumulated an eight million-square-foot portfolio of well-located Class A office buildings valued at more than $2.5 billion in key markets within Arizona, Florida, Illinois and Texas.

Additional information about Younan Properties, Inc. can be found at www.younanproperties.com.

pdfLOS ANGELES, CA (February 1, 2007) Younan Properties, Inc. (YPI), one of the fastest-growing, privately held real estate investment groups in the country, announced today that it has promoted Michael O'Donovan to Vice President-Finance. Mr. O'Donovan will be responsible for overseeing 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.

Since joining Younan Properties last year, Michael has done an exceptional job in furthering the accounting activities and finance processes that have supported our firm's rapid growth into the largest owner of office properties in Dallas and the second-largest owner in all of Texas, as well as our expanding presence in Chicago and other high-growth markets throughout the nation, said Zaya Younan, Chairman and CEO of Younan Properties, Inc. As we continue to outpace competitors and improve the quality of our assets, Michael's multi-national background and broad expertise in accounting and cost controls will continue to be an important asset to our growing firm.

With more than 25 years of experience as a Senior Financial Executive for both privately held and publicly-traded companies, O'Donovan has been involved in the acquisition and integration of more than 80 companies. Prior to joining Younan Properties, he served as Chief Financial Officer for STK International, Inc., with offices in the United States and China. Over the past decade, he also has 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.

Younan Properties has experienced explosive growth as an organization in a very short period of time, and I am pleased to be part of its continuing development into one of the country's most innovative and rapidly expanding real estate investment firms, said O'Donovan.

Most recently, Younan Properties added a total of 2.1 million square feet to its Chicago and Dallas portfolios with the acquisition of the Transwestern office portfolio, bringing its nationwide assets to 25 Class A office properties in Arizona, Florida, Illinois and Texas, totaling more than eight million square feet of prime space.

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.

About Younan Properties, Inc.

Headquartered in Los Angeles, CA, Younan Properties, Inc., a real estate investment group, specializes in acquiring Class A office properties in high-growth markets throughout the United States. As one of the fastest growing, privately held real estate investment groups in the country, the company is especially adept at turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan Properties creates immediate value. In fact, the company has delivered to its investors an average leveraged IRR of 65% on properties sold to date.

Since founding the company in 2002, Zaya S. Younan has accumulated an eight million-square-foot portfolio of well-located Class A office buildings valued at more than $2.5 billion in key markets within Arizona, Florida, Illinois and Texas.

Additional information about Younan Properties, Inc. can be found at www.younanproperties.com.

pdfYounan Properties Acquires 50-Story Thanksgiving Tower In Dallas' Cbd; Deal Marks The Largest Single-Asset Purchase For Ypi Since Company Inception 1.4 million-square-foot trophy high-rise brings YPI's Dallas assets to 6.2 million square feet nearly 10% of the city's Class A office space and its nationwide holdings to 9 million square feet.

LOS ANGELES, CA (February 20, 2007) Younan Properties, Inc. (YPI) announced today it has completed its largest single-asset acquisition since the firm's founding with the purchase of the 50-story Thanksgiving Tower, at 1601 Elm Street in Dallas' central downtown business district. The acquisition of the 1.4 million-square-foot landmark office building from seller Morgan Stanley makes Younan Properties the second largest owner of Class A office space in the state of Texas. YPI became the top office landlord in Dallas last year.

The addition of the downtown icon to its Dallas portfolio brings Younan Properties' holdings in the city to 13 prime office properties totaling 6.2 million square feet of Class A space. Nationwide, its office portfolio now encompasses 26 first-class properties totaling 9 million square feet of prime space. In 2007, YPI aims to double its 2006 acquisition activity, as it plans to invest $2 billion to $3 billion in commercial real estate in coming months.

With each acquisition since our founding, we have taken tremendous incremental strides in improving the quality and size of our assets, said Zaya S. Younan, Chairman and CEO of Younan Properties, Inc. With this Class A-plus office building, we've not only added the largest, most recognizable property to our portfolio in our short history; we've also positioned ourselves to purchase much larger, sought-after buildings where we will uphold our reputation for providing superior amenities and services for tenants.

Younan Properties represented itself in the acquisition. Andrew Levy, Senior Managing Director of Holliday Fenoglio Fowler LP, represented the seller, a partnership that includes Morgan Stanley.
Commenting on the firm he has worked with on numerous major transactions, Kyle Jeffers, Senior Vice President of Countrywide Financial Corporation noted that during Countrywide's numerous major transactions with YPI over the last several years, We've seen Younan Properties grow to become one of the most aggressive office landlords in the nation. They've purchased assets and have performed in some of the most challenging markets in the U.S. Younan Properties is an outstanding example of the type of client with which we seek to establish a relationship.

Built in 1982, the Thanksgiving Tower combines landmark presence and a distinctive cut-back design with a sawtooth exterior that allows for 16 corner offices on each floor. Designed by internationally-renowned architecture firm HKS, the dark blue reflective glass high-rise is 60% occupied by long-term tenants that include Hunt Petroleum, Gardere Wynne Sewell and Comerica bank. It is named after adjacent Philip Johnson-designed Thanks-Giving Square, a non-denominational place of worship in the heart of downtown Dallas, with a courtyard, fountains and gardens that offer a serene setting for reflection.

The 50-story skyscraper is renowned for the range and quality of its amenities, which include The Tower Club, a prestigious business and social venue on the building's 48th floor, with spectacular city views. In addition, the tower features on-site retail banking, 24-hour security, an on-site convenience store and deli, direct access to the CBD tunnel system and its many restaurants and stores, and an on-site helicopter pad available for private use.

Most recently, YPI acquired Energy Square I, Energy Square II and Energy Square III in Dallas' North Central Expressway submarket, as part of its Transwestern office portfolio acquisition in the fourth quarter of 2006. Its Dallas portfolio also includes KPMG Centre in downtown Dallas, and Galleria Plaza, Lakeside Square, Four Forest Plaza, 9400 Plaza, Eighty-Eighty Central, North Central Plaza, Graystone Centre and Meridian Center in the city's suburbs.

As the company continues the ambitious acquisition campaign it launched in 2003 in Texas, Younan points to his firm's ongoing bullish outlook for Dallas. Dallas has been a great office market for us; all our properties here are outperforming others in the submarkets they're located in. Our purchase of the Thanksgiving Tower demonstrates our ongoing commitment to the Dallas office market, which has benefited from new job creation and office employment. With the significant migration of Corporate America into the city, we will continue to increase our holdings in Dallas, as well as Houston.

In addition to focusing on office markets in Texas, Younan Properties is aggressively targeting Chicago as it aims to become the nation's largest privately-held commercial real estate investment firm. Its $1.5 billion portfolio currently includes assets in Arizona, Florida, Illinois and Texas.

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 $1.5 billion in real estate holdings since its inception in 2002.

About Younan Properties, Inc.

Headquartered in Los Angeles, CA, Younan Properties, Inc., a real estate investment group, specializes in acquiring Class A office properties in high-growth markets throughout the United States. As one of the fastest growing, privately held real estate investment groups in the country, the company is especially adept at turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan Properties creates immediate value. In fact, the company has delivered to its investors an average leveraged IRR of 65% on properties sold to date.

Since founding the company in 2002, Zaya S. Younan has accumulated a nine million-square-foot portfolio of well-located Class A office buildings valued at more than $1.5 billion in key markets within Arizona, Florida, Illinois and Texas.

Additional information about Younan Properties, Inc. can be found at www.younanproperties.com.

pdfLOS ANGELES, CA (March 1, 2007) Younan Properties, Inc. (YPI), one of the fastest-growing, privately held real estate investment groups in the country, announced today that it has hired Adam I. Knowlton as Senior Vice President and General Counsel. In this role, Knowlton will provide in-house legal counsel for YPI transactions throughout the United States, including acquisitions, dispositions and leasing activity. The firm's portfolio currently encompasses nine million square feet of well-located Class A office buildings valued at more than $1.5 billion in key markets within Arizona, Florida, Illinois and Texas.

Mr. Knowlton brings more than a decade of experience as a banker, litigator and real estate attorney to his new position. Prior to joining Younan Properties, he was a partner in the law firm of Freeman, Freeman & Smiley in Los Angeles, CA. In this post, he advised institutional investors, property owners, developers and lenders in all aspects of purchase and sale transactions, and leasing and development projects, ranging from office and retail to industrial and mixed-use projects. He has been involved in numerous multi-hundred million dollar real property acquisitions and dispositions.

Adam will be a tremendous asset in ensuring smooth YPI transactions, as we maintain and expand our portfolio of Class A office buildings throughout the country, said Zaya Younan, Chairman and CEO of Younan Properties, Inc. With his broad background and experience in looking out for the interests of both landlords and tenants, he will help us serve those who lease space in our properties as valued customers whose satisfaction is a top priority of Younan Properties.

Mr. Knowlton has extensive experience in representing landlords as well as tenants in leasing office, industrial and high-end retail projects. Prior to specializing in real estate, he practiced as a litigator for the law firm of McDermott, Will & Emery in Los Angeles, CA, representing clients in complex business litigation matters.

Mr. Knowlton graduated from Williams College with a Bachelor of Arts in Economics. After practicing for six years as a professional banker, he earned a Juris Doctor with Distinction from McGeorge School of Law. At McGeorge, he was a member of the Roger F. Traynor Honor Society and received the John A. McCarthy Scholarship and Annabel McGeorge Academic Achievement Award.

I look forward to applying my broad expertise with office transactions in a firm that has earned a reputation as one of the most innovative and rapidly expanding in the commercial real estate industry, Knowlton commented.

In February 2007, Younan Properties added the 50-story Thanksgiving Tower in Dallas' CBD to its portfolio, in the largest single-asset purchase since the firm's inception. The 1.4 million-square-foot trophy high-rise makes YPI the second largest owner of Class A office space in the state of Texas. YPI became the top office landlord in Dallas last year, with a claim to nearly 10 percent of the city's Class A office space. Last year, it closed on 2.1 million square feet of prime office space in Chicago and Dallas from Transwestern. In 2007, YPI aims to double its 2006 acquisition activity, as it plans to invest $2 billion to $3 billion in commercial real estate in coming months.

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.

About Younan Properties, Inc.

Headquartered in Los Angeles, CA, Younan Properties, Inc., a real estate investment group, specializes in acquiring Class A office properties in high-growth markets throughout the United States. As one of the fastest growing, privately held real estate investment groups in the country, the company is especially adept at turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan Properties creates immediate value. In fact, the company has delivered to its investors an average leveraged IRR of 65% on properties sold to date.

Since founding the company in 2002, Zaya S. Younan has accumulated a nine million-square-foot portfolio of well-located Class A office buildings valued at more than $1.5 billion in key markets within Arizona, Florida, Illinois and Texas.

Additional information about Younan Properties, Inc. can be found at www.younanproperties.com.

pdfLOS ANGELES, CA (August 1, 2007) With the third acquisition in a buying binge modeled after last year's crusade that made it the top office landlord in Dallas, Younan Properties, Inc. (YPI) has advanced its strategic plan to attain the same position in Houston. The fast-growing firm has added the Westchase Bank Building, an 11-story, 202,294-square-foot asset at 9801 Westheimer Road, to its Houston portfolio. The Class A acquisition brings its Houston holdings to nearly a million square feet significant progress in its goal to acquire five million square feet of Class A space in the city by the end of 2007.

Younan represented itself in the transaction. Ken Page, Senior Director of Cushman & Wakefield of Texas, Inc. represented the seller, 9801 Westchase Ltd. of Houston.

Zaya Younan and his team are astute investors who are skilled in at identifying upside potential and negotiating complex transactions, Page noted. It was a pleasure dealing with an investor who fully understands the closing process and worked very well with the seller to acquire this building.
Of his most recent closing, said Zaya S. Younan, Chairman and CEO of Younan Properties, Inc., said, While we are still very bullish about Dallas, we are now concentrating on building our Houston portfolio, as we've identified all the signs for a major recovery in that city's office market. Noting that Houston's Westchase District is now home to such major corporate owners as Bank of America, Chevron, Dow Chemical and Halliburton, Younan said, This district is the location of choice for more than 1,500 business offices, and it is within a city that looks forward to a projected absorption of more than eight million square feet this year, making it highly attractive for office investors.

Built in 1982, the Westchase Bank Building is 99% occupied with tenants that include URS Corporation, the world's largest global engineering design firm and a leading U.S. federal government contractor; Cumulus Media, the nation's second largest radio broadcasting company; and World Cinema, an industry leader in delivering Direct Broadcast Satellite (DBS) television service to over 500,000 hotel guestrooms in the U.S. It is situated in the master-planned Westchase District near Galleria one of Houston's fastest growing business districts approximately one mile east of the Beltway. Numerous hotels and restaurants are nearby and a bank is on the first floor.

Now the third-largest owner of Class A office space in Texas, Younan Properties holds title to nearly eight million square feet of prime commercial real estate in the state. In Dallas, it is the top office landlord, with approximately 12% of the city's Class A assets. Nationwide, YPI holdings now total more than 10 million square feet of Class A office space.

Last month, YPI acquired 6464 Savoy in the desirable deed-restricted Regency Square Office Park in southwest Houston and Northbelt Corporate Center, an institutional-grade, 10-story office property at 2350 North Sam Houston Parkway East in Houston. The fast-growing firm also owns Norfolk Tower, a 206,680-square-foot office building at 2211 Norfolk Street in Houston. It is under contract to purchase three additional Houston properties: Two Westlake Park, a 381,327-square-foot building at 580 Westlake Park Blvd.; 1700 West Loop South, a 253,135-square-foot, 14-story high-rise in the prominent Galleria submarket; and Shepherd Place, a 14-story high-rise with 116,913 square feet.

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 $1.5 billion in real estate holdings since its inception in 2002.

About Younan Properties, Inc.

Headquartered in Los Angeles, CA, Younan Properties, Inc., a real estate investment group, specializes in acquiring Class A office properties in high-growth markets throughout the United States. As one of the fastest growing, privately held real estate investment groups in the country, the company is especially adept at turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan Properties creates immediate value. In fact, the company has delivered to its investors an average leveraged IRR of 65% on properties sold to date.

Since founding the company in 2002, Zaya S. Younan has accumulated a ten million-square-foot portfolio of well-located Class A office buildings valued at more than $1.5 billion in key markets within Texas, Illinois and Arizona. Additional information about Younan Properties, Inc. can be found at www.younanproperties.com.

pdfLOS ANGELES, CA (March 29, 2007) With the lease extensions of two nationally recognized firms, Younan Properties, Inc. (YPI), one of the fastest-growing, privately held real estate investment groups in the country, has posted commitments for 62,074 square feet at Lakeside Square in north suburban Dallas, TX.. Since acquiring the 398,000-square-foot office building at 12377 Merit Drive in October 2005, YPI has increased occupancy from 82% to 93%.

Our ongoing commitment to providing superior office space solutions is reflected in our record of attracting and retaining first-rate, high-profile tenants, commented Zaya S. Younan, Chairman and CEO of Younan Properties, Inc. At YPI properties throughout Dallas and the nation, we are constantly differentiating ourselves by understanding what tenants want and need in their places of business, and by providing services and benefits at the highest level possible.

Most recently, National City Mortgage, one of the nation's largest residential mortgage lenders, renewed its commitment for 30,000 square feet of Class A space at the waterfront high-rise. For at least six years, the firm will occupy the entire fourth floor and a portion of the first floor.
Doug Carignan of Staubach represented National City Mortgage. Celeste Signor, Vice President of CB Richard Ellis' Dallas office, represented the landlord, Younan Properties.

Lakeside Square offers a great central location for our staff, as well as the convenience of a parking garage and onsite security, commented Carla Smith, National City Mortgage Facilities Manager. Our property manager has been terrifically responsive, and we've been very happy with the hands-on approach and great follow-up of the Younan team.

At the same property, global engineering firm CH2MHill has expanded its space to 32,074 square feet and extended its lease commitment for four years. Mike Quint of Jackson & Cooksey represented the tenant in the expansion and renewal. Celeste Signor of Grubb & Ellis represented Younan Properties.

Lakeside Square offers excellent access to high income and high growth areas of North Dallas and proximity to numerous fine hotels, restaurants and entertainment venues. In addition to National City Mortgage and CH2MHill, the tenant roster includes Towers Perrin Forster, Federal Liaison Services, and EXCO Resources.

Numerous improvement projects at the 26-floor office building will enhance the environment for both tenants and visitors. Now in the planning stages are a new mahogany wood and black granite lobby security desk, an interactive directory unit, and new elevator cab interiors and seating areas.

Lakeside Square is one of 13 prime Dallas office properties owned by Younan Properties, which is now the city's top landlord. With its acquisition of the 50-story Thanksgiving Tower in Dallas' CBD last month, YPI also became the second largest office landlord in the state of Texas. Nationwide, its office portfolio now encompasses 26 first-class properties totaling nine million square feet of prime space. In 2007, YPI aims to double its 2006 acquisition activity, as it plans to invest $2 billion to $3 billion in commercial real estate in coming months.

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.

About Younan Properties, Inc.

Headquartered in Los Angeles, CA, Younan Properties, Inc., a real estate investment group, specializes in acquiring Class A office properties in high-growth markets throughout the United States. As one of the fastest growing, privately held real estate investment groups in the country, the company is especially adept at turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan Properties creates immediate value. In fact, the company has delivered to its investors an average leveraged IRR of 65% on properties sold to date.

Since founding the company in 2002, Zaya S. Younan has accumulated a nine million-square-foot portfolio of well-located Class A office buildings valued at more than $1.5 billion in key markets within Arizona, Florida, Illinois and Texas.

Additional information about Younan Properties, Inc. can be found at www.younanproperties.com.

pdf$20 Million Renovation Will Transform...

LOS ANGELES, CA (May 24, 2007) Younan Properties, Inc. (YPI) announced today that it has finalized its acquisition of One Dallas Centre, at 350 N. St. Paul Street on the southern edge of the Arts District in Dallas' central business district (CBD). The 615,000-square-foot, 30-story Class A high-rise brings YPI's Dallas assets to nearly seven million square feet close to 10 percent of the city's Class A office space and its nationwide holdings to more than nine million square feet. Younan is now one of the largest owners of Class A space in the state of Texas and the top office landlord in Dallas.

YPI represented itself in the transaction. Evan Stone, managing director of Jones Lang LaSalle Inc. in Dallas represented the seller, Colonnade Properties.

Zaya Younan and his team are true professionals, who consistently did what they said they were going to do. As a result, we had an on-time and smooth closing of this transaction. It has been a pleasure working with them, Stone commented. YPI's plans for improving this Class A asset, combined with the firm's hands-on, tenant-focused operating strategy, should put the building right on track as a top notch downtown property.

YPI plans call for a $20 million renovation that will give the downtown high-rise a new identity and personality, reflecting a name change to Patriot Tower. The transformed property will feature a 10,000-square-foot lobby war museum with exhibits paying tribute to all the men and women who have sacrificed their lives serving their country, from the American Revolution to the present-day Iraq War.

We are passionate about this project, as we feel that all Americans should pause more in their daily lives to think about the brave men and women who have made the ultimate sacrifice to protect the democratic values on which this country is founded, said Zaya S. Younan, Chairman and CEO of Younan Properties, Inc. Dallas is the ideal location for this museum, as Texas has more active military personnel than any other state in the U.S. We will be honoring them, along with all who have served their country over the past two and a half centuries.

Younan noted that YPI will recruit a history professor from a Dallas university to make Patriot Tower displays as informative and educational as possible. This will be an educational project and a great attraction for tenants, visitors and all who do business in this landmark property, who will be able to pay tribute to American soldiers and gain lessons in the history of our country, from 1775 to the present.

In addition to the lobby museum, YPI plans call for extensive interior and exterior renovations, including common area enhancements, new landscaping and a complete mechanical upgrade, that will boost occupancy and bring the building back to the Class A+ standards for which Younan is known. Greyhound Lines is currently the lead tenant in the skyscraper, which is now 40% occupied.

This is a beautiful structure that will be totally transformed with the Younan touch.' Our plans call for operational and cosmetic improvements that will return One Dallas Center to first-class condition inside and out, enabling us to attract top corporate tenants as we lease up the building, Younan said.
Designed by world-renowned architectural firm I.M. Pei & Partners, One Dallas Center is among Dallas' tallest skyscrapers, with a unique diamond shape rising 448 feet high on the city's skyline. Two distinctive V-shape cutouts accentuate the building geometry and multiply the number of corner offices. An attached 10-story parking structure provides the highest ratio of parking in the entire Dallas CBD market.

Built in 1980 of aluminum spandrel with gray glass bands, One Dallas Center offers an ideal downtown location adjacent to Dallas Area Rapid Transit's St. Paul Light Rail station, a central hub of the city's public transportation system. It also boasts connections with Dallas' underground tunnel system, which runs throughout the CBD and features a wide array of retail shopping and dining venues. The Universities Center at Dallas, offering access to public upper-division and graduate-level education from seven universities and colleges, is within walking distance.

One Dallas Center marks YPI's third downtown Dallas acquisition in the past year. Earlier this year, the fast-growing firm added the 50-story Thanksgiving Tower to its portfolio of high-rise office properties, which also includes KPMG Centre in downtown Dallas. YPI also owns Energy Square I, Energy Square II and Energy Square III in Dallas' North Central Expressway submarket, and Galleria Plaza, Lakeside Square, Four Forest Plaza, 9400 Plaza, Eighty-Eighty Central, North Central Plaza, Graystone Centre and Meridian Center in the city's suburbs.

We remain bullish about Dallas' office market and confident that all of our properties here will continue to outperform others in the submarkets they're located in, said Younan, noting that YPI also has ambitious acquisition plans for Houston. The firm is currently under contract to purchase two Houston office properties: Northbelt Corporate Center, a high-identity asset that is strategically located on North Sam Houston Parkway in the highly desirable Greenspoint/Northbelt submarket, and 6464 Savoy, a mid-rise offering direct access to U.S. Highway 59, ideally suited for tenants that seek a smaller atmosphere and exceptional amenities. Both deals are expected to close in mid-June.

In addition to focusing on office markets in Texas, Younan Properties is aggressively targeting Chicago as it aims to become the nation's largest privately-held commercial real estate investment firm. Its $1.5 billion portfolio currently includes assets in Arizona, Florida, Illinois and Texas.

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 $1.5 billion in real estate holdings since its inception in 2002.

About Younan Properties, Inc.

Headquartered in Los Angeles, CA, Younan Properties, Inc., a real estate investment group, specializes in acquiring Class A office properties in high-growth markets throughout the United States. As one of the fastest growing, privately held real estate investment groups in the country, the company is especially adept at turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan Properties creates immediate value. In fact, the company has delivered to its investors an average leveraged IRR of 65% on properties sold to date.

Since founding the company in 2002, Zaya S. Younan has accumulated a nine million-square-foot portfolio of well-located Class A office buildings valued at more than $1.5 billion in key markets within Arizona, Florida, Illinois and Texas.

Additional information about Younan Properties, Inc. can be found at www.younanproperties.com.

pdfLOS ANGELES, CA (June 26, 2007) Younan Properties, Inc. (YPI) announced today that it has finalized its acquisition of 6464 Savoy, an eight-story, multi-tenant office building in the desirable deed-restricted Regency Square Office Park in southwest Houston, Texas. The addition of the 172,739-square-foot mid-rise at 6464 Savoy Drive to its Texas portfolio solidifies YPI's position as the third-largest owner of Class A office space in the state, with nearly eight million square feet of prime Texas real estate. YPI's nationwide holdings now total more than nine million square feet of Class A office space.

With its energy-based economy and the tremendous demand for oil and gas, Houston currently outshines all other cities in the nation for economic growth going forward, commented Zaya S. Younan, Chairman and CEO of Younan Properties, Inc. We will leverage such factors as higher job growth than any other U.S. city in the last year and tremendous activity at the Port of Houston now the nation's second largest port, destined to become the world's largest in our ambitious campaign to acquire and add value to our assets in Houston. All of these properties will benefit from the across-the-board upturn we predicted, that we foresee continuing for the next two to three years.

Younan represented itself in the transaction. Darrell L. Betts of Grubb & Ellis represented the seller.
The Younan team is comprised of aggressive, strategic thinkers and we look forward to working with them as YPI fulfills its goal to become the largest owner of Class A office space in Houston, just as it has done in Dallas, Betts observed. 6464 Savoy offers one of the largest contiguous blocks of floor space in Houston's southwest freeway submarket, and we are confident YPI will improve it to meet the superior standards for which the firm is known, he added.

Younan plans call for a $5 million renovation that will include extensive upgrades to both interior and exterior space. We will give this property a complete refurbishment as we transform it into a Class A business environment offering exceptional space solutions for new occupants, Younan concluded.
Built in 1980, 6464 Savoy is currently 30% occupied with tenants that include AIG International and Neon Systems, Inc. A parking ratio of 3.5/1,000 and an attached, four-story parking garage with a covered walkway provide abundant space for tenant and visitor parking. Onsite amenities include a bank, key card access, a lobby atrium setting, manicured landscaping and a fountain-lined entrance. The building is easily accessed by nearly all of Houston's major highways, including the Southwest Freeway (U.S. Highway 59), Loop 610, Katy Freeway (I-10), Sam Houston Tollway and the Westpark Tollway.

In Houston, YPI currently owns Norfolk Tower, a 206,680-square-foot office building at 2211 Norfolk Street. Its purchase of Northbelt Corporate Center, a 10-story office property strategically located on North Sam Houston Parkway in Houston's desirable Greenspoint/Northbelt submarket, is expected to close in approximately one week. In addition, YPI is under contract to purchase the 11-story Westchase Bank Building, a 202,294-square foot property at 9801 Westheimer Road in Houston.

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 $1.5 billion in real estate holdings since its inception in 2002.

About Younan Properties, Inc.

Headquartered in Los Angeles, CA, Younan Properties, Inc., a real estate investment group, specializes in acquiring Class A office properties in high-growth markets throughout the United States. As one of the fastest growing, privately held real estate investment groups in the country, the company is especially adept at turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan Properties creates immediate value. In fact, the company has delivered to its investors an average leveraged IRR of 65% on properties sold to date.

Since founding the company in 2002, Zaya S. Younan has accumulated a nine million-square-foot portfolio of well-located Class A office buildings valued at more than $1.5 billion in key markets within Arizona, Florida, Illinois and Texas.

Additional information about Younan Properties, Inc. can be found at www.younanproperties.com.

pdfWith a large undisclosed sum, the Zaya and Sherry S. Younan Foundation announced today that it will sponsor a new America's Longest Conflict exhibit at the Frontiers of Flight Museum in Dallas, Texas. The not-for-profit museum is a designated Smithsonian Affiliate that showcases loaned exhibits from the Smithsonian's National Air and Space Museum in Washington, D.C., as well as the entire Smithsonian system. In addition, the museum features permanent displays of its own extensive compilation of artifacts, documents and photographs from the University of Texas at Dallas' History of Aviation Collection.

Zaya S. Younan is Chairman and CEO of Younan Properties, Inc., Dallas' most dominant office landlord, with nearly seven million square feet of Class A office space in the city.

We are proud to be able to facilitate an educational exhibit that will pay tribute to thousands of American service men and women, including many who made the ultimate sacrifice in defending our freedoms, said Younan. We have never taken any of these freedoms for granted, and we're grateful for the opportunity to honor those who fought for their country over many decades of international conflict. This educational exhibition is the least we can do for people to remember these brave Americans.

In addition to financial support, Younan and his wife, Sherry, will contribute their family's own, personal artifacts to the Frontiers of Flight Museum exhibit. Development of the exhibit will start shortly. The exhibit will pay tribute to American aviation in global conflict and full-scale wars that took place between 1946 and 1991, encompassing the Korean War, the Cold War, Vietnam and the fall of the Berlin Wall.

We are exceedingly grateful for the Younan Foundation's generosity and interest in establishing a permanent, personal presence in our community, commented Ilene Stern, Vice President for Advancement at the Frontiers of Flight Museum. This significant gift will enable us to develop an exhibit that will be a lasting memorial to American military involved in close to a half-century of global conflict.

Founded as a small collection of aviation memorabilia in the Dallas Love Field terminal, the Frontiers of Flight Museum has grown into a 100,000-square-foot freestanding venue with exhibits that celebrate the history of flight, from Leonardo da Vinci through the aviation pioneers of the 1920s, World War aviation innovations and the Space Age. Among the artifacts that bring history to life are more than 200 aircraft models, including a full-size World War I Sopwith Pup biplane and the Apollo 7 Command Module. Also on display are uniforms, memorabilia, artifacts, posters and the only moon rock in north Texas. The Frontiers of Flight Museum is located at 6911 Lemmon Avenue (at University) in Dallas.

The Zaya & Sherry S. Younan Foundation is also a long-time sponsor of The Boy Scouts of America in Dallas, and of local schools in both Dallas and Los Angeles. Its latest Frontiers of Flight Museum exhibit sponsorship dovetails with Younan Properties' development of a 10,000-square-foot lobby war museum at Patriot Tower, the former One Dallas Centre in downtown Dallas. The fast-growing real estate investment firm acquired the 615,000-square-foot high-rise designed by world-renowned architectural firm I.M. Pei & Partners last month.

About Younan Properties, Inc.

Headquartered in Los Angeles, CA, Younan Properties, Inc., a real estate investment group, specializes in acquiring Class A office properties in high-growth markets throughout the United States. As one of the fastest growing, privately held real estate investment groups in the country, the company is especially adept at turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan Properties creates immediate value. In fact, the company has delivered to its investors an average leveraged IRR of 65% on properties sold to date.

Since founding the company in 2002, Zaya S. Younan has accumulated a nine million-square-foot portfolio of well-located Class A office buildings valued at more than $1.5 billion in key markets within Arizona, Florida, Illinois and Texas.

Additional information about Younan Properties, Inc. can be found at www.younanproperties.com.

pdfLOS ANGELES, CA (July 5, 2007) Younan Properties, Inc. (YPI) announced today that it has completed its disposition of Southpoint Executive Center, a 137,000-square-foot, institutional quality, Class A office building located at 151 Southhall Lane in Maitland, Florida. With the sale of the four-story property, YPI has made its exit from the Florida office market, as part of its strategic plan to concentrate on building its office portfolio in high-growth markets in Dallas, Houston and Chicago.

Purchased less than two years ago from New York-based Prudential, the sale generated a 34% IRR and 81% gross return to investors. Ronald J. Rogg, senior vice president of CB Richard Ellis' Orlando, Florida office, represented Younan in the transaction. The buyer, a partnership of Stiles Capital Partners, represented itself.

When we purchased Southpoint Executive Center, Florida was one of the top three states in the nation for job growth and unemployment rates. Due to these factors and others, we've seen Florida office market valuations skyrocket in a very short period of time, observed Zaya S. Younan, Chairman and CEO of Younan Properties, Inc. Having delivered significant returns to our investors in just two years of ownership, the timing is right for us to exit the Florida office market. We will be concentrating our efforts and capital in areas where we see tremendous recovery underway that will positively impact current and planned acquisitions in Dallas, Houston and Chicago.

Most recently, Younan Properties took title to two Houston office buildings totaling close to 330,000 square feet of well-located office space: 6464 Savoy, an eight-story, multi-tenant office building in the desirable deed-restricted Regency Square Office Park in southwest Houston, and Northbelt Corporate Center, an institutional-grade, 10-story office property at 2350 North Sam Houston Parkway East. Its current portfolio also includes Norfolk Tower, a 206,680-square-foot office building at 2211 Norfolk Street in Houston. The firm is currently under contract to purchase two additional Houston office properties and plans to acquire some five million square feet in the city in the next six to 12 months.

Younan Properties is now the third-largest owner of Class A office space in Texas, with nearly eight million square feet of prime commercial real estate in the state. In Dallas, it is the top office landlord, with approximately 12% of the city's Class A assets. Nationwide, YPI holdings now total more than 10 million square feet of Class A office space.

In both Houston and Dallas, we see an affordable cost of living, access to a highly educated workforce, decreasing vacancy rates and valuations for existing properties that are still below what the cost for new construction would be, Younan concluded.

Built in 1990, Southpoint Executive Center is currently 93% occupied, up from 85% when YPI purchased it in mid-2005, with noteworthy tenants that include Embarq and Lifestyle Lifts. The Class A property is located within the 180-acre master-planned development Maitland Center, which includes 5.5 million square feet of office space, in the rapidly growing Orlando submarket. Building amenities include an onsite restaurant and gym.

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 $1.5 billion in real estate holdings since its inception in 2002.

About Younan Properties, Inc.

Headquartered in Los Angeles, CA, Younan Properties, Inc., a real estate investment group, specializes in acquiring Class A office properties in high-growth markets throughout the United States. As one of the fastest growing, privately held real estate investment groups in the country, the company is especially adept at turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan Properties creates immediate value. In fact, the company has delivered to its investors an average leveraged IRR of 65% on properties sold to date.

Since founding the company in 2002, Zaya S. Younan has accumulated a 10 million-square-foot portfolio of well-located Class A office buildings valued at more than $1.5 billion in key markets within Arizona, Florida, Illinois and Texas. Additional information about Younan Properties, Inc. can be found at www.younanproperties.com.