Younan Properties Acquires Second Property in Under 2 Months

Real Estate Firm Continues Expansion in Houston with Royal Oaks Centre

woodland Hills, California, UNITED STATES


Los Angeles, CA, April 22, 2021 (GLOBE NEWSWIRE) -- As part of its ongoing expansion in the Houston market, Younan Properties has just acquired Royal Oaks Centre. The recently renovated, Class A office tower is located in the coveted Westchase zip code. Located at 11490 Westheimer Road in Houston, Texas, this property is advantageously positioned in the heart of Houston’s vibrant west side, and is comprised of a 10-story office tower and a seven-story parking garage with additional surface parking.

With over 232,000 rentable square feet, the property sits on over 3 acres of land. The recently renovated property offers modern finishes with expansive windows with unobstructed views of the corridors. This includes updates to both the lobby and garage, as well as upgraded building systems, restrooms, and elevator modernization. Additional on-site tenant amenities include a conference center that seats up to 40 guests and a putting-green at the back entry. The property is conveniently located next to popular retail stores and restaurants along Westheimer Road, as well as upscale neighborhoods, country clubs, and shopping centers like the Galleria.

Younan Company Chairman & CEO, Zaya S. Younan, commented, “This is our second large acquisition in the Houston market in less than two months. We are highly active in the Houston market due to the current market cycle and upside potential during the recovery.”

“We are very bullish in the near term future of above-average recovery, both in positive absorption and rent growth,” adds Mr. Younan.

 

ABOUT YOUNAN PROPERTIES 

Younan Properties is a subsidiary of Younan ​Company, ​a global​ private equity firm with assets and operations in North​ America and Europe​. Younan Company also owns La Grande Maison Younan​ Collection,​ a luxury hospitality division based in Europe.

Younan Properties is a privately held real estate investment and management company, specializing in the acquisition and management of Class A office properties and in strong growth markets throughout the U.S., including Houston, Chicago, Dallas, Los Angeles, Orange County, Phoenix and Colorado.  Since inception, YPI has managed more than 200 transactions, having purchased more than 35​ million square feet of properties, with completed transactions of over $6.5 billion.​  Known for its detailed, ​hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan Properties is full-service with in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. Its senior management team has extensive commercial real estate experience in office, retail, and hospitality, with significant operational, asset management, leasing, finance, and transaction expertise. For more information, visit www.younanproperties.com.

 

Attachments

 
The recently renovated, Class A office tower is located in the coveted Westchase zip code and is comprised of a 10-story office tower and a seven-story parking garage with additional surface parking. Recent renovations to the property include updates to both the lobby and garage, as well as upgraded building systems, restrooms, and elevator modernization. Additional on-site tenant amenities include a conference center that seats up to 40 guests and a putting-green at the back entry.

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