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
Contact: Denise Davis