LOS ANGELES, January 14, 2008—Younan Properties, Inc. announced that it named Pam Weston general manager to oversee its office properties in Houston, Texas. The company has rapidly expanded in Houston with its portfolio growing to nearly 2.2 million square feet of office space.
"Pam Weston brings to YPI a strong commercial real estate background with many years of experience in asset management and building operations," observed Zaya S. Younan, chairman and CEO of Younan Properties, Inc. "As we continue to expand in Houston and grow our Texas portfolio, Pam will play an important role in upholding YPI's superior reputation and track record for exceptional office building standards and top tenant satisfaction."
"Younan Properties has become one of the top landlords in Texas, and Pam's experience will help us sustain our continuing growth," said John Cook, YPI vice president and asset manager for Texas. Weston brings more than 15 years of commercial real estate experience in office buildings, retail and medical office space. Most recently, she was regional manager for a portfolio of major retail centers for Henry S. Miller Multi Management. Before that, she served as manager with Boxer Property with responsibility for multiple office buildings in Houston. She also previously held positions with Mac Haik Management and with Kennedy Wilson Property Management, all located in Houston. A resident of Spring, Texas, Weston is a member of BOMA.
In 2007, Younan Properties acquired some 4.0 million square feet of office space in Texas. In the fourth quarter of 2007, YPI announced that it acquired Bridgewood I, Bridgewood II and Greenbriar Place, all located on N. Sam Houston Parkway E. in the heart of the Greenspoint/North Belt submarket, 1010 Lamar in the Houston CDB. Other 2007 Houston acquisitions include Two Westlake Park, a 382,000 square-foot, 17-story high-rise at 580 Westlake Park Boulevard in Houston; 1700 West Loop South, a 15-story, 254,000 square foot building in the desirable Galleria submarket and Shepherd Place, a 14-story 188,000 square foot office building just south of prestigious River Oaks; 6464 Savoy in the desirable deed-restricted Regency Square Office Park; Northbelt Corporate Center, a 10-story office property at 2350 North Sam Houston Parkway East; and the Westchase Bank building, an 11-story, 203,000 square-foot asset at 9801 Westheimer Road. It also owns Norfolk Tower, a 207,000 square-foot office building at 2211 Norfolk Street in Houston.
About Younan Properties, Inc.
Headquartered in Los Angeles, Calif., Younan Properties, Inc., a privately-held real estate investment group, specializes in acquiring Class A office properties in high-growth markets throughout the United States. Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, the company is recognized for its success in turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan Properties has delivered to its investors an average leveraged IRR of 67% on properties sold to date. Since founding the company in 2001, Zaya S. Younan has accumulated nearly 11 million square feet of well-located Class A office buildings in key markets within Texas, Illinois and Arizona. Additional information about Younan Properties, Inc. can be found at www.younanproperties.com.