LOS ANGELES, CA (March 7, 2007) With a $500,000 pledge, Younan Properties, Inc. (YPI), one of the fastest-growing, privately-held real estate investment groups in the country, has brought Oaks Christian School in Westlake Village, CA school one step closer to its $21 million fundraising goal. The donation, which will be paid over five years, will fund new facilities and equipment needs for Oaks Christian's fast-growing student body. The school has grown from its start 6-½ years ago to 953 students in grades six through 12 today.
The next generation is our future, and we are very pleased to be able to help prepare tomorrow's leaders by creating new platforms for academic excellence, artistic expression and athletic distinction, said Zaya Younan, Chairman and CEO of Younan Properties, Inc. When you are inspired by some great purpose, all your thoughts break their bonds, your mind transcends limitations, your consciousness expands in every direction and you find yourself in a new, great and wonderful world. I have been inspired by Oaks Christian's culture and commitment to develop our children's minds for leadership and their hearts for service.' This is the greatest gift we can give our children and I am confident that Oaks Christian can foster this.
Acknowledging the YPI donation, Tom Konjoyan, Vice President of Development for Oaks Christian School, commented, We are grateful for the amazing generosity this donation represents. It demonstrates the support of our community and its business leaders for this type of facility, which will benefit students for generations to come. Konjoyan noted that collective donations now total over $18 million toward the campaign's goal of $21 million.
The centerpiece of the campaign is construction of the two-level, 29,000-square-foot Bedrosian Pavilion. The multipurpose project will connect to the existing gymnasium and will include the Curtis Family Black Box Theater and Sommers Family Media Studio. The complex will feature retractable seating platforms, which will allow the configurations to change from a gymnasium area to theater seating for stage productions. It will incorporate practice rooms, a control room, workshop, black box/green room, rest rooms, teacher core room and service/utility areas.
The $15 million Bedrosian Pavilion was designed by NTD Architects. Matt Construction, a leading Southern California contractor, recently participated in the topping out ceremony for the facility. Construction is expected to be completed by mid-2007.
In addition to the new pavilion, the campaign will pay for seven new classrooms in the school's Price Academic Center and expansions to the Collins CafÃ© and Shiley Family Library. Several improvements to the athletics facilities will include a new baseball bleacher complex, synthetic turf for Thorson Stadium and lighting for the aquatic complex. The campaign also will fund a new security system and new computers throughout the 18-acre campus.
In honor of Younan Properties' pledge, Oaks Christian will name its main basketball and volleyball court Younan Court. Located within the Dallas Athletic Center, the facility is an NBA-length court that can be divided into two full basketball courts or three volleyball courts. A dedication ceremony for Younan Court will be held this summer. Oaks Christian School's basketball and volleyball programs have won a combined three CIF titles in the school's short history.
Oaks Christian School is located adjacent to the 101 Freeway in Westlake Village, CA. The 110,000-square-foot facility includes classrooms, a library, office complex, Olympic-sized outdoor pool, and a gymnasium. The campus also has a football stadium; baseball, softball and soccer fields; wrestling/aerobics and weight rooms; and a cafeteria. The state-of-the-art facilities include 12 science labs, distance learning, computer laboratories, video conferencing, and TV monitors and computers in every classroom. For more information, visit the school's website at www.oakschristian.org
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.