Younan Properties Launches New European Resort Division with First French Acquisition; Château du Petit Chêne to Serve as Flagship Hotel and Golf Destination
LOS ANGELES, CA October 27, 2015 --- In a year marked by rapid geographic expansion and growth, Younan Properties, Inc. has announced its first European acquisition. The commercial real estate investment and management company with properties in five major U.S. States has acquired an early 17th Century chateau-hotel and golf course in France in an all cash transaction. The historic Château du Petit Chêne is located in Mazières-en-Gâtine and sits amidst 160 unspoiled acres of wooded park land, lakes and offers a spectacular 18-hole golf course, restaurant and soon will open four-star hotel accommodations.
The French acquisition of Château du Petit Chêne was completed earlier in the month through a wholly-owned French limited liability company (société par actions simplifiée), Château-Hôtel du Petit Chêne Golf Resorts. The new French holding company is La Grande Maison Younan Collection, SAS, which will serve as both an operational and a holding company for all European acquisitions and expansions.
According to Zaya S. Younan, Chairman and CEO of Younan Properties "We have been studying Europe for the last four years and have found a number of unique opportunities in France, which we view as Europe's 'emerging economy' from the recent recession because of its political stability and potential economic growth. Château du Petit Chêne is our inaugural acquisition and we see more opportunities to grow our European resort portfolio and create a 'single point of destination' for travelers who seek a luxury experience in magical settings."
The flagship of La Grande Maison Younan Collection, Château du Petit Chêne, remains a national treasured estate in France as a registered French historical monument. Built by the Viault family in the 1600’s, the Chateau has had just three owners. The most recent owner planned to convert the Chateau to a boutique luxury hotel, but was forced to abandon the renovation. Younan stepped in to expand the vision to renovate the property and the grounds and restore the estate to its original beauty and historical significance. Renovations to the main Chateau include carefully restoring interior and exterior finishes, adding new luxury guest suites and the renovation and launch of a redesigned restaurant, which currently serves golf course patrons.
The 18-hole golf course was designed and built by Robert Berthet, designer of 45 international golf courses. The Golf du Petit Chene, which is open to the public, is masterfully designed among the wooded landscape and numerous lakes and offers a 6-hole pitch and putt, driving range with 30 covered bays, pro shop, and dining and locker rooms. International golf course manager, Blue Green Saur Group, provides management through a 20-year lease of the golf course.
Younan commented, "Golf du Petit Chene blends all three schools of golf design - strategic, penal and heroic -- throughout the course, often on a single hole. The location offers more than 400 years of history and golfers will be hard-pressed to focus on their game with stellar views on almost every hole. As with most great golf courses, Golf du Petit Chene takes what the terrain offers, enhances it and makes one feel like as though the course always has existed."
Gaetan Maetz, Director of Operations and Development of Blue Green said, "Blue Green is pleased with this collaboration, given the very great achievements made by Younan Properties. In just two weeks following the acquisition, we have seen significant improvements throughout the entire project. The Younan Properties team from the United States and France already has completed a number of projects that our guests are talking about. We look forward to working with its French subsidiary to transform the Golf du Petit Chene into one of the most desirable golf destinations. Due to this collaboration, Blue Green is able to keep customers' expectation at the heart of its concerns and its requirements."
Younan concluded. "We look forward to working with the French government at the national and local level to extend our efforts to other projects throughout this wonderful country. We believe we are caretakers of history, and we are honored to acquire the Château du Petit Chêne and to restore the grandeur of the past, while incorporating modern amenities and luxuries that will ensure that this prestigious property serves future generations," he said.
Younan Properties, Inc., is a privately-held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong U.S. growth markets including Los Angeles, Chicago, Dallas, Houston, Phoenix and the Denver region. Its subsidiary, La Grande Maison Younan Collection, SAS, specializes in acquiring luxury golf and resort properties throughout Europe. The company is recognized for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants. 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. www.younanproperties.com.