DALLAS— Younan Properties, Inc secured a new five-year, fixed rate loan for Galleria Plaza a 189,104 square-foot, 12-story tower in Dallas.

Younan recently invested more than a half million dollars in capital improvements including lobby renovations and common area improvements. Galleria Plaza is centrally located at the intersection of the LBJ Freeway and Dallas North Tollway and just a 15-minute drive from Dallas/Fort Worth International Airport, Love Field Airport, Addison Airport and Dallas' Central Business District.

"The refinance of Galleria Plaza takes advantage of the current favorable rate environment and reflects the market value of this Class "A" asset. Although the submarket saw only modest absorption during 2013, there are no new projects under construction, therefore we project continued absorption and upward pressure on average lease rates," said Zaya Younan, Chairman and CEO of Younan Properties.

Business Partners LLC provided the loan and NorthMarq Capital represented Younan Properties in the transaction.

"The efficiency of the Younan organization and the perseverance of Business Partners worked together to consummate an attractive fixed rate loan for an exceptional, well located asset," added Paul C. Brighton, Senior Vice President of NorthMarq Capital in Dallas.

Younan Properties, Inc. specializes in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix.

"Across the platform, Younan Properties has continued to de-leverage its portfolio to 40% overall through key dispositions, capital reinvestment and favorable debt replacement. Galleria Plaza is just another example of how we have improved our balance sheet by replacing high cost debt with lower cost financing and reducing the debt on the building by 25%, "said Younan.