LOS ANGELES, CA (July 26, 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 John R. Cook as Vice President of Asset Management. In his Dallas, TX-based role, Cook will oversee management of close to eight million square feet of Class A office space in YPI's Dallas and Houston portfolios. His duties will encompass leasing at numerous trophy high-rises, including Thanksgiving Tower, KPMG Centre and Patriot Tower in downtown Dallas, as well as at suburban mid-rises in both Dallas and Houston.
Cook brings 15 years of executive-level leadership experience to his new position, including a successful track record in leasing, value building, exit strategies and management of portfolios of up to 12 million square feet in markets across the country. Prior to joining Younan Properties, he was Executive Vice President of Regis Realty I, LLC in Dallas, responsible for the firm's commercial property acquisitions group. He has served as President of Regis Property Management, overseeing up to 110 commercial properties in the commercial property management company's $110 million portfolio. His background also includes positions as Executive Director of the Denver Merchandise Mart in Denver, CO and as Vice President of Prime Income Asset Management, Inc. in Dallas, TX.
John will play a critical role in attracting and retaining high-profile corporate tenants in the two office markets in which Younan Properties has both a dominant presence and a reputation for providing exceptional space solutions, observed Zaya S. Younan, Chairman and CEO of Younan Properties, Inc. As we continue to grow our portfolios in these recovering markets, he will bring the signature YPI touch to new and existing assets.
Cook is a licensed CPA in Texas. He earned a BS in accounting from the University of Texas at Dallas. Of his new position, he said, Younan Properties is one of the most dynamic real estate investment firms in the country, and I am extremely pleased to be part of its executive team. Zaya Younan is passionate about the way his firm manages commercial real estate, and his team is known as the best in the nation for creating and building value.
Now the top office landlord in Dallas with approximately 12% of the city's Class A space, Younan Properties is intent on attaining that position in Houston. Most recently, it added two office buildings totaling close to 330,000 square feet of well-located office space to its Houston portfolio: 6464 Savoy, an eight-story property in the desirable deed-restricted Regency Square Office Park in southwest Houston, and Northbelt Corporate Center, an institutional-grade, 10-story property at 2350 North Sam Houston Parkway East. It is currently under contract to purchase four 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 the state of Texas. Nationwide, its holdings total more than 10 million square feet of Class A 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. 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.