LOS 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.