Zaya S. Younan, chairman and CEO of the Los Angeles-based investment group, is investing close to $35 million in the acquisition and renovation of Greenbriar Place and Bridgewood I and II, all next door to each other. Younan bought the portfolio from KBS Realty Advisors of Newport Beach, CA.

Younan says the three buildings will be an addendum to the 156,572-sf Northbelt Corporate Center at 2350 N. Sam Houston Pkwy. East, which he bought in July. The assets are less than three miles west of Northbelt Corporate Center. "Greenspoint is the last submarket to feel the recovery, but it's starting to do well because of a lack of available space in other submarkets," he says.

Greenbriar Place and Bridgewood II are 96% occupied while Bridgewood I is 87% leased. The 145,537-sf Greenbriar Place was built in 1982 at 650 N. Sam Houston Pkwy. East. Bridgewood I, totaling 134,277 sf, and Bridgewood II, with 140,596 sf, are located at 654 N. Sam Houston Pkwy. East and 652 N. Sam Houston Pkwy. East, respectively. Both buildings were developed in 1980. Darrell Betts, SVP with Grubb & Ellis Co. in Houston, marketed the portfolio for KBS.