LOS ANGELES, July 29, 2015 /PRNewswire/ -- Oakwood
Worldwide®, the global leader in corporate housing and
serviced apartment solutions, today announced it added a newly
constructed 100-unit multifamily apartment complex in the vibrant
South Lake Union sector of Seattle. This LEED Silver
certified complex, newly re-named Oakwood Seattle South Lake Union,
is the fifth acquisition by Singapore-based Mapletree Group as part of its
joint venture with Oakwood Worldwide.
"Seattle is such a vibrant city
with tremendous job growth, driving increased demand for corporate
housing from our global clients," said Scott McDonald, senior vice president operations
and service excellence, Oakwood Worldwide. "South Lake Union
is the perfect location for expansion, allowing us to strengthen
our presence in the marketplace and offer our clients increased
choice and flexibility to meet their corporate housing
needs."
Oakwood Seattle South Lake Union provides studio, one-, and two-
bedroom apartments with sustainability-oriented amenities;
including eco-friendly landscaping and energy efficient
appliances. The stylish floor plans feature expansive windows
with city and lake views, wood plank style flooring, subway tile
backsplashes, quartz countertops and stainless steel appliances.
The property's community amenities include a resident lounge with a
community kitchen, pool table, shuffle board table, dart boards and
pinball machines. Residents can also enjoy a multi-screen
theater/gaming den with surround sound, or relax on the rooftop
deck with BBQs and outdoor fireplace, taking in views of the
downtown Seattle skyline and Lake
Union.
Located in the heart of South Lake Union, the property is in an
ideal neighborhood for professionals, with restaurants, bars, cafes
and retail shops within easy walking distance. The property
is only a six-minute drive, or 30-minute walk, to central downtown
and 20 minutes to Seattle-Tacoma International Airport.
"The size, age and contemporary style of this property fit
perfectly within our strategy to expand our presence of branded
buildings across the globe," said Mike
Jara, west coast acquisitions director, Oakwood
Worldwide. "As our first property in the Pacific Northwest,
Oakwood Seattle South Lake Union complements our recent
acquisitions in Raleigh,
Dallas and the Silicon Valley.
Oakwood Worldwide and Mapletree will continue to target
properties in strong job growth markets throughout the U.S."
View all Oakwood Worldwide press releases online.
About Oakwood Worldwide®
Oakwood Worldwide®
is the premier provider of corporate housing and serviced apartment
solutions through its well-known brands, Oakwood®, ExecuStay® and
Insurance Housing Solutions™. With a presence in all 50 United
States and more than 85 countries, the award- winning company
provides move-in-ready furnished accommodations to meet the needs
of global organizations, individual business travelers, insurance
clients and leisure travelers alike. Oakwood Worldwide was founded
in and continues to base its corporate headquarters in Los Angeles and operates regional headquarters
in London, Phoenix and Singapore. For more information, please visit
OakwoodWorldwide.com.
About Mapletree
Mapletree is a leading real estate
development, investment and capital management company
headquartered in Singapore. Its
strategic focus is to invest in markets and real estate sectors
with good growth potential. By combining the strengths as a
developer, an investor and a capital manager, the Group has
established a track record of award-winning projects in
Singapore, and delivers consistent
and high returns across various real estate classes in Asia.
As of 31 March 2015, Mapletree
owns and manages S$28.4 billion of
office, logistics, industrial, residential, corporate
lodging/serviced apartment and retail properties. Currently, it
manages four Singapore-listed real
estate investment trusts (REITs) and six private equity real estate
funds, which together hold a diverse portfolio of assets in
Singapore and Asia.
In April 2014, Mapletree acquired
49% of Oakwood Asia Pacific Pte, Ltd ("OAP") and inked a joint
venture agreement with Oakwood Worldwide that will draw on
Mapletree's expertise in Asia to
build a portfolio of Oakwood-branded properties in the region.
Besides Asia, Mapletree will
directly acquire and develop serviced apartments under a license to
use the Oakwood Worldwide brands in all markets, such as
Europe managed by OAP. The
joint venture will also see Mapletree acquire properties in US,
which will be managed under the Oakwood brand. For more
information, please visit www.mapletree.com.sg.
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SOURCE Oakwood Worldwide