Younan Properties Solidifies Dominant Presence in Dallas' Office Market with New...

DALLAS -- With the Acquisition of Two Class A Office Buildings Valued at More Than $70 Million, Younan Properties Brings Its Dallas Office Portfolio to 2.7 Million Square Feet

On the heels of its recent acquisition of three Class A office buildings totaling 1.1 million square feet in Dallas from Equity Office Properties Trust (NYSE:EOP), Woodland Hills, Calif.-based Younan Properties Inc. (YPI), one of the fastest-growing, privately held real estate investment groups in the country, has acquired two additional office properties in Dallas from EOP. Valued at more than $70 million and totaling approximately 800,000 square feet, the new acquisitions bring Younan's Dallas portfolio to 2.7 million square feet of Class A office space. Younan represented itself in the acquisitions. Steve Livadities of Eastdil represented the seller, which has corporate headquarters in Chicago.

"These high-quality acquisitions reinforce our strength as one of the dominant owners of office properties in a rapidly improving market in which we have experience and a solid presence," commented Zaya S. Younan, chairman and CEO of Younan Properties Inc. "The addition of these two assets will allow us to advance our strategy to be a long-term investor in the high-growth Dallas office market with first-rate assets that will deliver superior facilities to our tenants and great investment returns."

Known for its detailed, hands-on approach to improving operational efficiencies and reducing expenses 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 Dallas. The firm's Dallas-based Texas division will be responsible for managing the new assets and attracting quality, long-term tenants. Larry Blankenship, recently named Younan Properties' vice president of asset management-Texas, will oversee the firm's Texas portfolio.

Both of the new acquisitions are view-oriented high rises with strategic locations on Merit Drive. "These office buildings offer prime locations with excellent highway access, outstanding tenant amenities and panoramic views," Younan noted. "They provide another opportunity for us to deepen our foothold in what will become a core high-growth business market in the U.S."

The new acquisitions include:

--  Four Forest Plaza, a 19-story contemporary building with
        approximately 395,000 square feet of office space. Located at
        12222 Merit Drive, near Highway 75 and Interstate 635 in North
        Dallas, the building has excellent access to Dallas' downtown
        business district and key transportation centers. Built in
        1985 and renovated in 1994, it is 80% leased with major
        tenants that include Zurich US, ACIG Insurance, Lee Financial
        Corp., International Risk Management, and Huselton & Morgan.
        The hexagonal-shaped structure features an elegant black
        facade accented by a band of green neon and bronze-anodized
        aluminum. An Italian tile and polished marble floor and
        soaring marble walls highlight its three-story, open-air
        atrium lobby. Sweeping views overlook North Dallas' landscaped
        Park Central area and urban skyline. A six-story attached
        parking structure has more than 1,100 parking spaces and 100
        visitor parking spaces.

    --  Lakeside Square, a modern 18-story lakefront building with
        398,000 square feet of office space. Located at 12377 Merit
        Drive in north suburban Dallas at the intersection of the LBJ
        Freeway and North Central Expressway, the building has
        excellent access to high-income and high-growth areas of North
        Dallas and proximity to numerous fine hotels, restaurants and
        entertainment venues. Built in 1987, it is 80% leased with
        major tenants that include National City Mortgage, Towers
        Perrin Forster, CH2M Hill, Federal Liaison Services, and Exco
        Resources.
        The building's distinctive architecture features a reflective
        glass curtain wall. A towering two-story lobby is highlighted
        by stainless steel and mirrored surfaces with a polished
        marble floor. A six-level parking structure and three
        additional surface lots provide 1,293 parking spaces.

Headed by Zaya S. Younan, Younan Properties has accumulated $600 million in real estate holdings since its inception in 2002. The company's national portfolio currently includes 20 Class A office properties totaling 4 million square feet.

About Younan Properties Inc.

With headquarters in Woodland Hills, Younan Properties Inc., a real estate investment group, specializes in acquiring class A office properties in high-growth markets throughout the United States. 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.

Throughout his career, Younan has distinguished himself as a true entrepreneur, building strategic organizations and profitable operating companies. Younan has more than 20 years of senior management experience working for Fortune 500 companies in various industries in the United States, Asia and Europe. A former turn-around specialist, Younan specifically targeted real estate as a new venture because he saw inefficiencies in the industry and an opportunity to apply his expertise in operational management and implementation of technology to increase efficiency and total quality management.

Since founding the company in 2002, Younan has accumulated a portfolio of well-located Class A office buildings valued at $600 million in key markets within Arizona, California, Florida, Illinois and Texas. For more information, visit www.younanproperties.com.