Younan Properties Taps Countrywide Commercial to Fund 50-story Thanksgiving
Tower Office Building
CALABASAS, Calif., Feb. 20 /PRNewswire/ -- Countrywide Commercial Real
Estate Finance today demonstrated continued success in the commercial real
estate office property market with the announcement of a $106 million
floating-rate loan to Younan Properties, Inc. for the acquisition of
Thanksgiving Tower -- a 50-story glass office building in Downtown Dallas.
Built in 1982 and renovated in 1992, Thanksgiving Tower is a true
Dallas icon that consists of 1,400,000 square feet of office space and is
occupied by 47 tenants. Tenants include a major law firm occupying more
than 200,000 square feet, a major oil company, and one of the largest
business clubs in the country.
The Thanksgiving Tower transaction was led by Countrywide Commercial's
Senior Vice President, Kyle Jeffers. The broker on the deal was RKM
Capital's Richard Scandaliato.
"Countrywide Commercial has seen more and more clients become repeat
borrowers over the years," said Boyd Fellows, Managing Director,
Countrywide Commercial. "We believe that this is due to the fact that we
are committed to making the lending process as pleasurable as it can
possibly be for our clients."
"Over the last five years, we have worked with many respected lending
institutions and Countrywide Commercial has always stood apart for their
team's ability to move quickly in underwriting assets and completing
financial transactions," said Zaya S. Younan, Chairman and CEO of Younan
Properties, Inc. "We have had a very good working experience with them and
have been impressed with their ability to digest complex acquisitions and
design financial packages to meet clients' needs."
For more information on Countrywide Commercial, please visit
http://www.countrywidecommercial.com. For further information on additional
Countrywide Commercial office property transactions, please visit
http://www.countrywidecommercial.com/Press.aspx?ID=15.
About Countrywide Commercial Real Estate Finance, Inc.
Countrywide Commercial Real Estate Finance, Inc., a provider of fixed-
and floating-rate financing for multi-family and commercial properties, is
a unit of Countrywide Capital Markets, Inc. (CCM), a wholly-owned
subsidiary of Countrywide Financial Corporation (NYSE: CFC). Other CCM
business units include Countrywide Securities Corporation, a registered
broker-dealer specializing in underwriting, buying and selling
mortgage-backed debt securities; Countrywide Servicing Exchange, an
advisory and brokerage firm specializing in the transfer of bulk loan
mortgage servicing rights portfolios between third parties; Countrywide
Asset Management, a full-service company that acquires, services and
manages distressed residential mortgage loan assets for rehabilitation and
eventual sale; and CCM International, Ltd., and Countrywide Capital Markets
Asia, Ltd., distributors of American securities in the UK and Japan,
respectively.
SOURCE Countrywide Commercial
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Related links:
http://www.countrywidecommercial.com
http://www.countrywidecommercial.com/Press.aspx?ID=15
CONTACT:
Ed Essa of Countrywide, +1-800-796-8448,
pressroom@countrywide.com
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