LOS ANGELES, Dec. 16, 2015 /PRNewswire/ -- Oakwood Worldwide®, the global leader in corporate housing and serviced apartment solutions, today announced it has added a recently completed LEED Platinum Certified 112-unit apartment complex in the Pearl District of Portland, Ore. to its global portfolio of managed apartments. This strategically located property, re-named Oakwood Portland Pearl District, was purchased by Singapore-based Mapletree Group as part of its joint venture with Oakwood Worldwide, the eighth such acquisition since the partnership began.
"Portland is a booming city and a proven magnet for businesses in the U.S. and across the world," said Mike Jara, west coast acquisitions director, Oakwood Worldwide. "With Portland's base of blue-chip companies, and its employment growth that has been outpacing the nation, Portland was the ideal location for an acquisition. Oakwood Portland Pearl District is in a fantastic spot within the city, nestled in the heart of downtown Portland in one of its most desirable neighborhoods, affording our guests all the conveniences and pleasures of city living."
Oakwood Portland Pearl District is a 10-minute drive from downtown and 20 minutes from the Portland International Airport. The area is highly walkable and cyclable with residents able to easily access the best that Portland has to offer. Its many green features contributed to its LEED Platinum certification, including its solar shading on windows, mechanized parking matrix, storm water treated on site, vegetated roof planter and an eco-roof that captures water.
"We're excited to add this new, contemporary building to our portfolio in Portland," said T. J. Spencer, vice president sales, Oakwood Worldwide. "Its LEED Platinum certification is a great attribute. Our clients are increasingly asking us about our environmental impact and our overall corporate social responsibility and we are pleased to add another building to our global portfolio that has earned LEED certification."
The property consists of studios, one and two-bedroom apartments featuring polished concrete floors and countertops, stainless steel appliances and backsplashes and in-unit washers and dryers. Guests will enjoy its world-class amenities including a gym, bike storage and a rooftop lounge with views, a yoga patio, BBQ area and a fire. The apartments will be furnished with modern, contemporary and transitional style furniture. Each apartment will also feature a 48" Smart TV in the living room.
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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.
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 its 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.
As at 31 March 2015, Mapletree owned and managed 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 ("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 also directly acquire and develop serviced apartments under a license to use the Oakwood Worldwide brand in all markets, such as Europe, that are 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.
SOURCE Oakwood Worldwide