News and Events - 2012

Refinancing Completed at 1010 Lamar Younan Square;
Houston High-Rise Is De-Leveraged 30% with Long-Term Financing

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Houston, October 30, 2012 ---Younan Properties, Inc., a full-service, national real estate owner and property manager of Class A office buildings in Dallas, Houston, Los Angeles, Chicago and Phoenix, announced that it successfully completed the refinance of Younan Square in Houston's CBD. The new five-year, fixed rate loan funded on October 29.

According to Zaya Younan, Chairman and CEO, "Once again, we took advantage of the current favorable rate environment by securing new, long term financing and successfully de-leveraging this asset by more than 30%. Moreover, we were able to separately fund in reserve $3.0 million for future tenant improvements and leasing commissions to continue our efforts to increase the building's occupancy and take advantage of positive absorption in the Houston market." He added, "This latest action completes $120 million of refinancing year to date."

This latest news is further evidence that Younan Properties continues to successfully manage its long term debt through the implementation of a systematic de-leveraging strategy. To date, Younan Properties has reduced its overall portfolio debt leverage to less than 65% LTV. Younan Square is centrally located in Houston's downtown resurgence. The building at 1010 Lamar is 263,385 square feet and includes the historically noteworthy 1111 Main Garage, former home of Sakowitz Brothers.

Younan added, " The Houston downtown submarket has had continuous positive absorption and demand for downtown space remains robust . With unemployment well below the national average, we anticipate hiring will remain strong, particularly in the energy sector, and rental rates will continue to rise."

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan's current portfolio consists of 19 office properties in five top metro markets. Younan's fully-integrated real estate investment company offers in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. For more information, visit www.younanproperties.com.

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Younan Properties Successfully Completes $100 Million in Refinancing in 90 Days;
Company Announces Refinance of Graystone Centre in Dallas

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Dallas, August 8, 2012 ---Younan Properties, Inc., a full-service, commercial property owner

and manager of Class A office buildings in Dallas, Houston, Los Angeles, Chicago and Phoenix, announced that it has successfully completed more than $100 million in total portfolio refinancing  over the last quarter.  On August 7, Younan completed the refinancing of Graystone Centre in Dallas.

According to Zaya Younan, Chairman and CEO, "Over the past 90 days, Younan Properties has successfully completed more than $100 million in refinancing five office properties in Dallas, Houston and Chicago.  Most recently, we secured new long term debt at Graystone Centre in Dallas as we continued to take advantage of the current rate environment.  Overall, we have made substantial progress toward completing the restructuring of our existing debt and de-leveraging our portfolio to less than 60%."

Younan added, "We anticipate completing another $100 million of refinancing through the end of 2012. We have significantly improved our capital position, providing us a solid foundation on which to grow through new acquisitions."

Younan will be using proceeds from the loan to add building upgrades and renovations as it continues to lease up the Class "A" office tower on the LBJ Freeway. Graystone Centre is a 15-story, 301,378 square foot, Class A property with excellent visibility from the LBJ Freeway and convenient and accessible to I-35, the Dallas North Tollway, and just seven miles east of DFW International Airport. Typical floorplates measure approximately 21,000 rsf. Amenities include a tenant fitness center, 14-person conference room, on-site deli, on-site management and security, 24/7 key card access, and updated restrooms, common area corridors and elevator lobbies. There is a covered parking garage with as well as surface parking for visitors.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. Known for its detailed, hands-on approach to improving operational efficiencies, while maintaining top building standards for tenants, Younan's current portfolio consists of 19 office properties in five top metro markets. Younan is a fully-integrated real estate investment company with in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. For more information, visit www.younanproperties.com.

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Contact: Denise Davis
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818.703.9600 x9705

pdfYounan Properties Announces Successful Refinance of Lakeside Square
Company Secures New Loan on Dallas Office Building

Los Angeles, July 31, 2012 - Younan Properties, Inc., a full-service, national real estate owner and property manager of Class A office buildings in Dallas, Houston, Los Angeles, Chicago and Phoenix, announced that it successfully completed the refinancing of Lakeside Square in the Park Central district of Dallas. The new 10-year, fixed rate CMBS loan was closed on July 23.

According to Zaya Younan, Chairman and CEO, "The refinance of Lakeside Square takes advantage of the current favorable rate environment and reflects the market value of this Class "A" asset. The Central Expressway submarket where Park Central is located continues to show steady improvement with more than 100,000 square feet of positive absorption in the first six months of 2012. Overall, demand for Class "A" buildings continues to grow in Dallas/Fort Worth with more than 330,000 square feet of positive absorption in the second quarter. The new financing provides us additional resources for leasing and tenant improvement and positions this building as the premier office building in Park Central."

The company recently announced to tenants that it is initiating a capital program to upgrade the existing building and add new lifestyle amenities. Phase One includes building a new fitness center, renovating the lobby and common areas, a wireless upgrade and an exterior landscape improvement program.

Younan added, "This latest announcement is a further example of our stated goal to realign and de-leverage our overall portfolio to 60%."

Lakeside Square is one of the premier office buildings in Park Central and benefits from its impressive stature, modern architectural design and tranquil lakeside setting. Its reflective silver glass exterior and white marble lobby create a distinctive modern environment with classical touches. Within the building itself, Lakeside boasts a deli, car wash, conference center with wireless access and an adjacent six-level garage. With 85% occupancy, the 18-story, 403,120 square foot Class "A" office building is highly visible from every direction, within proximity to Dallas' most prominent neighborhoods and steps away from Medical City. Park Central is a master-planned, mixed use development in the southern corner of US-75 and I-635, one of Dallas' most heavily traveled intersections.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. Known for its detailed, hands-on approach to improving operational efficiencies, while maintaining top building standards for tenants, Younan's current portfolio consists of 19 office properties in five top metro markets. Younan is a fully-integrated real estate investment company with in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. For more information, visit www.younanproperties.com

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Contact: Denise Davis
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818.703.9600 x9705

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Younan Properties Announces Successful Refinance of One North Arlington
Company Secures New Loan on Chicago Area Office Building

Los Angeles, July 26, 2012 - Younan Properties, Inc., a full-service, national real estate owner and property manager of Class A office buildings in Chicago, Houston, Los Angeles, Dallas and Phoenix, announced that it successfully completed the refinancing of One North Arlington (ONA) in the Northwest Chicago suburb of Arlington Heights. The new five-year, fixed rate CMBS loan was closed on July 18.

According to Zaya Younan, Chairman and CEO, "The new loan takes advantage of the current favorable rate environment and reflects the market value of this Class "A" asset. The Northwest submarket continues to show steady improvement with nearly 200,000 square feet of positive absorption of Class A space in the first six months of 2012. The new financing of One North Arlington provides us additional resources for leasing and tenant improvement and positions this building as the premier office solution in the Northwest submarket."

Younan added, "Not only did we refinance this asset with longer term debt, we also de-leveraged this building significantly. This is part of our overall goal to extend maturities and reduce our overall leverage to 60%."

One North Arlington is a seven-story, 170,507 square foot Class "A" office building with 83% in-place occupancy. It features a beautiful granite lobby and a soaring two-story atrium allowing for abundant natural light. It is located in the heart of the vibrant Arlington Heights business corridor and is surrounded by numerous restaurants, hotels and ancillary business and banking services to meet the demands of busy professionals. Visibility is key and ONA offers tenants prime building identity at the interchange of Dundee Road and RT 53.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. Known for its detailed, hands-on approach to improving operational efficiencies, while maintaining top building standards for tenants, Younan's current portfolio consists of 19 office properties in five top metro markets. Younan is a fully-integrated real estate investment company with in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. For more information, visit www.younanproperties.com

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Contact: Denise Davis
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818.703.9600 x9705

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Los Angeles, June 26, 2012 - Younan Properties, Inc., a full-service, national real estate owner and property manager of Class A office buildings in Houston, Los Angeles, Chicago, Dallas and Phoenix, announced that it completed the sale of Younan West Loop South in the Houston Galleria to ROC Bridge Partners, LLC of Salt Lake City.

According to Zaya Younan, Chairman and CEO, "We were approached by to ROC Bridge with a very attractive, unsolicited offer to acquire Younan West Loop South in Houston. This is a high quality, Class A asset in a strong submarket that has performed well throughout the recession. This asset was sold above its purchase price and traded at an impressive 6.0 cap rate, which is indicative of the building's quality and performance. As a result, we were able to deliver an attractive return to the Passco Younan Opportunity Fund investors and joint venture partner, Passco Companies, LLC. The nature of this transaction underscores our ability to successfully leverage opportunities and create positive value for our investors and partners."

Gary L. Smith, Senior Vice President, Asset Management and Manager of Passco Companies commented, "Younan's 1700 West Loop South was one of two office assets that Younan Properties acquired with Passco in Houston at the height of the real estate market. Because of its experience and reputation as a skilled owner and operator, Younan delivered an above market performance with returns that exceeded those of many other peers, particularly in light of a deep recession where companies saw their investments decline by nearly half during the same timeframe."

Younan Properties was represented by Darrell Betts of Avison Young in the transaction. "The quality of Younan's assets in highly desirable markets create significant demand from investors. Younan's ability to handle complicated transactions seamlessly, adds value to the process and makes its properties attractive to other buyers," Betts added.

Younan West Loop South is a Class A office high-rise attached to the Marriott Hotel in the upscale West Loop shopping district with Galleria shopping and numerous restaurants. The 272,113 square foot office building houses a diverse roster of professional tenants and offers secured parking, after-hours security card access, on-site security, management, and engineering. Tenants and their guests have 24-hour access to the Marriott Hotel.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. Known for its detailed, hands-on approach to improving operational efficiencies, while maintaining top building standards for tenants, Younan's current portfolio consists of 20 office properties in five top metro markets. Younan is a fully-integrated real estate investment company with in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. For more information, visit www.younanproperties.com

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Contact: Denise Davis
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818.703.9600 x9705

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Los Angeles, June 21, 2012 - Younan Properties, Inc., a fully integrated, national real estate owner and manager of Class A office buildings in five major U.S. office markets announced that it completed the acquisition of Anaheim Corporate Center in Orange County.

Zaya Younan, Chairman and CEO of Younan Properties commented on the transaction. “This was an excellent opportunity to increase our presence in southern California by acquiring a performing asset with significant upside potential. Because of our resources, reputation as an experienced owner/operator and our ability to close deals quickly, we are able to take advantage of these opportunities. We feel this is a particularly good time to expand our portfolio and we are well positioned to execute several more transactions before year end, ” Younan added.

Michael Lawrence, Senior Vice President of Marcus & Millichap represented the seller, LNR Partners. "It is good to see Younan Properties re-enter the market and resume its acquisition activity. There were numerous buyers interested in acquiring this asset, but the seller chose Younan because it wanted a reliable, experienced buyer with an established reputation for closing," he said. "This was a smooth transaction and an on-time closing without any surprises. Sellers always prefer this type of buyer," he added.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. Known for its detailed, hands-on approach to improving operational efficiencies, while maintaining top building standards for tenants, Younan's current portfolio consists of 20 office properties in five top metro markets. Younan is a full-service real estate investment company with in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. For more information, visit www.younanproperties.com

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Contact: Denise Davis
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818.703.9600 x9705

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Los Angeles, June 18, 2012 - Younan Properties, Inc., a fully integrated, national real estate owner and manager of Class A office buildings in five major U.S. office markets announced that it recently completed the sale of Four Forest Plaza to Adler Realty Investments.

According to Zaya Younan, Chairman and CEO, "Four Forest Plaza is a high quality asset that generated considerable demand among buyers interested in acquiring well-maintained, Class A office properties in Dallas. Our strategy was to own and manage this building through an initial hold period and leverage the value of the asset on behalf of our investors. Overall, this asset performed well despite a deep and protracted recession."

Younan continued, "Our recent dispositions also reflect the strength of the Texas economy, which continues to outperform the nation in job growth. With an unemployment rate of 7.1%, the Metroplex is well-positioned for proportionate growth as it continues to accommodate its ever-expanding workforce. We have taken advantage of the strength of the recovery in Texas and have sold $400 million worth of assets in the last 12 months, de-leveraging our portfolio by 30%."

Younan Properties was represented by CBRE in the transaction. Adler Realty Investment represented itself in the sale. According to Gary Carr, Executive Vice President of CBRE, "The Younan team is highly knowledgeable in dispositions, which helped expedite the entire process and ensured a smooth and seamless transaction for both buyer and seller. The quality of their assets in highly desirable markets create significant demand from investors."

Four Forest Plaza is a 19-story, 398,767 square foot, Class A office building in the Central Expressway submarket. It is conveniently accessed by Central Expressway (US-75) and LBJ Freeway (I-635). The distinctive black glass high-rise on Merit Drive is located on the west side of North Central Expressway (US 75) between Forest Lane and Interstate 635 in Dallas.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. Known for its detailed, hands-on approach to improving operational efficiencies, while maintaining top building standards for tenants, Younan's current portfolio consists of 20 office properties in five top metro markets. Younan is a full-service real estate investment company with in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. For more information, visit www.younanproperties.com

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Contact: Denise Davis
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818.703.9600 x9705

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Younan Properties Completes Sale of 200 North LaSalle in Chicago
Trophy High Rise Sold Above Loan Value, Younan Successfully Executing De-leverage Strategypdf

 

Los Angeles, April 17, 2012 - Younan Properties, Inc., a fully integrated, national real estate owner and manager of Class A office buildings in five major U.S. office markets announced that it completed the sale of 200 North LaSalle to the Onni Group, a private real estate developer and manager headquartered in Vancouver, B.C.

According to Zaya Younan, Chairman and CEO, "The sale of 200 North LaSalle demonstrates the ongoing success of our capital recycling program and furthers the Company's stated strategy of realigning our portfolio and reducing our leverage. Over the past year, we have made significant progress in de-leveraging our portfolio, opportunistically recycling capital, strengthening our balance sheet and securing a sustainable platform on which to grow."

Younan continued, "This disposition represents another significant transaction for downtown Chicago. Institutional buyers see long-term value in this market as evidenced by a 24% increase in sales over the past year. Moreover, this is another example of our ability to market our high quality, Class A assets in our portfolio at a price that exceeds its loan value. The building traded at an impressive 4.5 Cap rate, which is indicative of its time-tested quality and appeal."

Younan Properties was represented in the transaction by Stephen Livaditis, Senior Managing Director, and Chang Lee, Director of Eastdil Secured in Chicago. According to Livaditis, "Given the ongoing challenges that characterize the financial markets in transactions such as 200 North LaSalle, we were impressed with the Younan team's ability to move quickly in order to effect a smooth closing for both buyer and seller." Livaditis continued, "Younan Properties has a great portfolio with significant market demand. They are institutional owners that can effectively execute transactions, especially in difficult markets."

200 North LaSalle is a premier, Class A, 30-story office building with 645,170 square-foot office tower. Its location on LaSalle Street has long been considered the heart of Chicago's financial district and the hub  of the Central Business District. The building features a unique design that offers 10 corner offices per floor. The virtually column free floor plates allow for efficient space planning and its floor-to-ceiling windows offer tenants an abundance of natural light and expansive views unparalleled by other Central Loop buildings.

With this disposition, Younan Properties will own and manage nearly 6.0 million square feet of Class A office space in Dallas, Houston, Chicago, Los Angeles and Phoenix.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. Known for its detailed, hands-on approach to improving operational efficiencies, while maintaining top building standards for tenants, Younan's current portfolio consists of 20 office properties with approximately 6.0 million square feet of rentable space. Younan is a full-service real estate investment company with in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. For more information, visit www.younanproperties.com

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Contact: Denise Davis
This email address is being protected from spambots. You need JavaScript enabled to view it.
818.703.9600 x9705

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