LOS ANGELES, DECEMBER 18, 2007—Younan Properties, Inc., one of the nation’s fastest growing, private-held real estate investment firms, has added three more office buildings to its rapidly expanding Houston portfolio. With the acquisition of Bridgewood I, Bridgewood II and Greenbriar Place, all located on N. Sam Houston Parkway E. in the heart of the Greenspoint/North Belt submarket, the firm’s Houston assets have grown to nearly 2.2 million square feet of office space. In 2007 alone, Younan Properties acquired some 4.0 million square feet of office space in Texas.

Situated strategically with easy freeway access to Downtown, Reliant Stadium and George Bush Intercontinental Airport, the North Houston portfolio contains approximately 422,000 square feet of office space. Bridgewood I at 654 N. Sam Houston Parkway E. is a 135,000 four-story office building built in 1980 with 87% occupancy. Also built in 1980, Bridgewood II at 652 N. Sam Houston Parkway E. is four stories with 141,000 rentable square feet, and is 96% occupied. Greenbriar Place, a five-floor, 146,000 square foot building was built in 1982 and was recently renovated. It currently is 96% occupied.

Younan Properties represented itself in the transactions. Darrell L. Betts of the Betts/Farber Southwest Regional Investment Team for Grubb & Ellis represented the seller, KBS Realty Advisors.

According to Darrell Betts, "This was another seamless transaction with Zaya Younan of Younan Properties who no doubt will be one of, if not the largest landlord in Houston. Mr. Younan continues to acquire high quality assets throughout the Southwest."

Commenting on the newest additions to its expanding Houston portfolio, Zaya S. Younan, chairman and CEO of Younan Properties said, "These acquisitions further underscore our commitment to the Houston market. The Greenspoint/North Belt submarket is experiencing robust growth because of Houston’s diversifying economy, impressive job growth and low unemployment. Houston will remain a key market for us for the next three to five years."

Now the second largest owner of Class A office space in Texas, Younan Properties owns 8 million square feet of prime commercial real estate in the state. It is the top office landlord in Dallas, with approximately 12% of the city’s Class A assets and is the second largest commercial office owner in Houston. Nationwide, its holdings now total nearly 11 million square feet of

Class A office space.

On December 3, Younan Properties announced that it acquired 1010 Lamar in the Houston CDB. Other 2007 Houston acquisitions include Two Westlake Park, a 382,000 square-foot, 17-story high-rise at 580 Westlake Park Boulevard in Houston; 1700 West Loop South, a 15-story, 254,000 square foot building in the desirable Galleria submarket and Shepherd Place, a 14-story 188,000 square foot office building just south of prestigious River Oaks; 6464 Savoy in the desirable deed-restricted Regency Square Office Park; Northbelt Corporate Center, a 10-story office property at 2350 North Sam Houston Parkway East; and the Westchase Bank building, an 11-story, 203,000 square-foot asset at 9801 Westheimer Road. It also owns Norfolk Tower, a 207,000 square-foot office building at 2211 Norfolk Street in Houston.

Headquartered in Los Angeles, Calif., Younan Properties, Inc., a privately-held real estate investment group, specializes in acquiring Class A office properties in high-growth markets throughout the United States. Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, the company is recognized for its success in turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan Properties has delivered to its investors an average leveraged IRR of 67% on properties sold to date. Since founding the company in 2001, Zaya S. Younan has accumulated nearly 11 million square feet of well-located Class A office buildings valued at more than $1.5 billion in key markets within Texas, Illinois and Arizona. Additional information about Younan Properties, Inc. can be found at www.younanproperties.com.