Younan Properties Produces 77% Returns
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The property is 63,305 square feet.
LOS ANGELES—With its latest sale, Younan Propertiesproduced an impressive 77% return for its investors after only 16 months. The investor sold Younan Executive Center, a 63,305-square class-A office property in Simi Valley, to an unnamed investor. Younan purchased the asset in 2014, and subsequently leased it up to produce the phenomenal returns.
“We did not intend to sell the asset because it was 100% leased for 10 years to a stable government tenant,” Zaya Younan, chairman and CEO of Younan Properties, tells GlobeSt.com. “We were hoping to just enjoy the cash flow from it, but an unsolicited offer came in and we couldn’t refuse it. We decided to sell the property and redeploy the capital into other acquisitions. It wasn’t our intention to sell, but the buyer recognized that this was a good stabilized asset with long-term cash flow.”…
