Zaya S. Younan, chairman and CEO of the Los Angeles-basedinvestment group, is investing close to $35 million in theacquisition and renovation of Greenbriar Place and Bridgewood I andII, all next door to each other. Younan bought the portfolio fromKBS Realty Advisors of Newport Beach, CA.

Younan says the three buildings will be an addendum to the156,572-sf Northbelt CorporateCenter at 2350 N. Sam Houston Pkwy. East, which he boughtin July. The assets are less than three miles west of NorthbeltCorporate Center. "Greenspoint is the last submarket to feel therecovery, but it's starting to do well because of a lack ofavailable space in other submarkets," he says.

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