LOS ANGELES, CA – Oakwood Worldwide, the global leader in corporate housing and serviced apartment solutions, opens Oakwood Olympic & Olive, a stylish addition to its portfolio of more than 50 branded properties globally. Located at 1001 South Olive Street in the heart of Downtown Los Angeles, this newly constructed property is also the ninth US corporate housing asset owned by Singapore-based Mapletree Investments, the parent company of Oakwood Worldwide. This is the first property added to Oakwood’s portfolio since Mapletree bought Oakwood Worldwide in February 2017.

Oakwood Olympic & Olive combines modern architectural design and urban accessibility, located within simple reach of L.A. Live, the Financial District and the Fashion District.  This modern midrise apartment community features an energetic downtown presence where residents can experience boutique-style design, including a hip seventh floor sky lounge, downtown views from the pool deck and townhomes with front-door stoops along Olive Street.  The outdoor spaces and other amenities foster a sense of community for residents, making an urban oasis amidst the downtown energy.  

The property offers furnished and unfurnished apartment options, and includes 201 units of studio, one- and two-bedroom accommodations with open-concept living areas.  The units feature designer finishes, including quartz countertops, glass-tile backsplashes, stainless steel appliances, gas ranges, 10-foot ceilings and in-unit washers and dryers.  The fully furnished apartments are comfortable and complete with fully equipped kitchens and contemporary furniture.  The property’s outdoor spaces include a pool, as well as more intimate spaces for smaller gatherings and a paw park for four-legged residents.  Onsite conveniences include secure bike storage, underground parking with EV charging stations, multiple co-working spaces for groups two-12, and a high-tech fitness center. With a Walk Score of 95, a Transit Score of 100 and a Bike Score of 82, guests will delight in simple access to the downtown Los Angeles area, including close proximity to the 10 and 110 freeways and a six-minute walk to the Pico Metro stop on the Blue Line.

“Oakwood Olympic & Olive represents an evolving approach in our collection of serviced apartments, and we are excited to invite our clients and guests to experience the revitalization of Downtown LA and live like a local in our newest addition to the Oakwood family,” said Chris Ahearn, CEO, Oakwood Worldwide. “This modern style and design, along with the community-enhancing common spaces, reflect the qualities we are seeking in the new properties we will be adding to our portfolio as we accelerate our global expansion.”

Oakwood Olympic & Olive is Oakwood Worldwide’s third branded property in Los Angeles.  2016 saw the company expanding its branded properties into four new countries, Australia, Malaysia, Singapore and Vietnam, as well as increasing its presence in markets where it already has properties, such as London, Tokyo, Jakarta and several locations in China. 

With its acquisition of Oakwood Worldwide, Mapletree has reaffirmed its intentions to accelerate the acquisition and development of Oakwood-managed corporate housing and serviced apartment assets in the US, Europe and Asia Pacific.  In addition to the ten Mapletree properties operated by Oakwood in the US and Australia, Mapletree is currently developing three serviced apartment properties in Japan and Vietnam which will be managed by Oakwood Worldwide upon completion.

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BOSTON, MA – TA Realty, a leading provider of real estate investment management services to institutional and private investors, announced that, on behalf of The Realty Associates Fund IX, L.P. (“Fund IX”), it has sold a six-property, 2,514-unit multifamily portfolio to Blackstone Real Estate Income Trust for approximately $430 million.

“We believe the outcome of this transaction represents compelling value for Fund IX investors,” said Tom Landry, Managing Partner at TA Realty. “The price we were able to command for this well-located portfolio of apartment communities reflects the significant value made through strategic operational and capital improvements over the ownership period.”

The apartment communities that comprise the portfolio are located across four states in high-barrier-to-entry markets, including Dallas, Chicago and Orlando metros. These markets are supported by favorable demographic trends and positive economic indicators.

Fund IX is part of TA Realty’s flagship fund series that focuses on making diversified real estate portfolios that generate strong cash flow, benefit from intensive asset management and result in long-term value creation. A commingled fund with $1.49 billion in equity capital, Fund IX received commitments from a diverse group of institutional investors.

The TA Realty team members involved in the transactions include Partners Nicole Dutra Grinnell, Michael Haggerty, Jim Raisides and Dispositions Officer Luke Marchand. JLL represented TA Realty in transaction negotiations.

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INDIO, CA – The Mogharebi Group (“TMG”) has completed the sale of Mountain View Cottages, a 311-unit community that is located on Arabia Street in Indio, CA. The property sold with multiple offers for a sales price of $15.5 million. The buyer was a Simi Valley based private investor.

“Due to the low price per unit and attractive yield of this property, the potential buyer pool was significant in size,” says Alex Mogharebi, President of TMG. “To maximize the value of this community, we aggressively marketed it to our list of high net worth private clients several of whom are in exchange. Not only did the property have a strong going in yield, it also provided upside with improved management and renovations. Additionally, the neighborhood is experiencing growth due to new construction that is fueled by tourism demand from the increasing festival activity in the area.”

Alex Mogharebi and Otto Ozen of TMG represented the seller, a private investment group based in the San Gabriel Valley, and the Simi Valley based buyer.

According to Alex Mogharebi, “This sale demonstrates that private investors are outpacing other buyer types even through a rising-interest rate environment.”

Built on a 12.42-acre site in 1965, Mountain View Cottages is located at 46289 & 46299 Arabia Street in Indio. The community is near to the Indio Fairgrounds and the Larson Justice Center. It is minutes to the Empire Polo Club which is the site of renowned festivals including Coachella, Desert Trip, and Stagecoach.

Mountain View Cottages offers the finest in common area amenities. There is a sparkling swimming pool and a fun playground that is surrounded by a tropical landscape and gorgeous mountain views. All the units are bungalow style, meaning that residents don’t share a wall with other units.

With unrivaled local knowledge, an extensive global network of top real estate investors, state-of-the-art technology, and direct access to capital, The Mogharebi Group is the best choice to meet the needs of major private investors and investment funds.

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