LOS ANGELES, CA – Mapletree Investments, a leading real estate development, investment and capital management company, has bought Oakwood Worldwide, a premier global provider of corporate housing and serviced apartment solutions. The acquisition covers all of Oakwood’s global operations.

Mapletree also announced the appointment of Mr. Christopher Ahearn as Oakwood’s Chief Executive Officer with immediate effect. Oakwood’s Founder and Chairman Mr. Howard Ruby will assume the non-executive role of Chairman Emeritus at Oakwood, where he will serve in an advisory role to Oakwood on the corporate housing business.

Mapletree’s acquisition of Oakwood is part of its long-term strategy to strengthen its corporate housing and serviced apartment business. Currently, all of Mapletree’s nine corporate housing and serviced apartment assets in the United States and Australia are managed under the Oakwood brand as part of a collaboration signed in 2014. The collaboration also saw Mapletree buy a 49 percent stake in Oakwood’s Asia Pacific operating arm, Oakwood Asia Pacific.

Said Mr. Hiew Yoon Khong, Mapletree’s Group Chief Executive Officer: “This acquisition is strategic and commercially significant to Mapletree. Our full ownership of Oakwood will allow us to enhance efficiencies and the growth momentum of our corporate housing and serviced apartment business. In addition, Oakwood is a reputable global brand and we intend to continue strengthening its presence.

“Furthermore, Mapletree intends to step up the acquisition and development of corporate housing and serviced apartment assets that will add to our earnings streams and expand housing options available to Oakwood’s clients and guests. We will be looking at markets across the US, Europe and Asia Pacific, which are also regions where Oakwood is a well-regarded brand.”

Said Mr. Howard Ruby, Chairman Emeritus of Oakwood: “It has been my very special privilege to lead this organization for 57 years. It gives me fantastic pleasure to know that the company, the associates and our clients will be in excellent hands with Mapletree and CEO Christopher Ahearn at the helm. We have learned through our collaboration that Mapletree shares our key vision of growing and expanding the Oakwood brand globally and maintaining the high customer service standards for which we are known. Both companies have worked well together since 2014, and I am confident that will continue. I am very excited about the future of Oakwood as we embark on this new journey with Mapletree as the company’s new owner.”  

Mr. Ahearn, as Oakwood’s new CEO, will draw from his vast experience in growing and improving the operating performance of companies, which he gained while serving as Senior Advisor to TPG Capital. He will also capitalise on the industry knowledge he bought while serving as Oakwood’s Senior Vice President of Sales and Marketing from 2005 to 2010.

Said Mr. Ahearn, CEO of Oakwood: “I am delighted to be returning to Oakwood as the new CEO. Howard is a pioneer in this industry and I am honoured to have been entrusted to carry forth his legacy and lead the company into this new chapter under Mapletree’s ownership. I look forward to working with our associates, the heart of our organization, to align and evolve Oakwood’s global capabilities and innovative offerings in order to better meet the ever-changing needs of our clients and guests. We are committed to a seamless transition of ownership with minimal disruption to Oakwood’s operations.”

Oakwood is the largest provider of corporate housing and serviced apartments globally with a presence in more than 95 countries. The company serves more than 80 percent of Fortune 500 companies, and works with the 10 largest US relocation companies. In addition to a vast supply chain inventory, Oakwood manages a portfolio of more than 50 branded properties globally.   

In addition to the nine Mapletree properties operated by Oakwood (US and Australia), Mapletree is currently developing three serviced apartment properties in Japan and Vietnam as well as one other asset under development in the US, which will be managed by Oakwood Worldwide upon completion.

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COLLEGE PARK, MD – Wood Partners, a national leader in multifamily real estate development, announced that pre-leasing has begun at Fuse 47, a new community located in downtown College Park, roughly 10 miles north of the Capitol.

“With this asset, we’ll help fulfill a much-needed demand for housing in the expanding College Park neighborhood,” said Scott Zimmerly, Director of the Mid-Atlantic region for Wood Partners. “This was another opportunity that fell in line strategically with our approach to seeking optimal locations with a clearly identified need for exceptional housing.”

Rich in amenities, Fuse 47 offers a resort-style pool, outdoor grilling stations, a bocce court, a state-of-the-art fitness center with the latest CrossFit®-inspired equipment and more. The community includes 1-, 2- and 3-bedroom market rate apartments in a variety of floor plans that provide residents with the option to choose layouts based upon their preferences. All units are equipped with luxury conveniences and finishes.

The community is well-positioned to take advantage of burgeoning growth that College Park is experiencing, with a new Whole Foods market, two new major hotels and a new Amazon bookstore on the University of Maryland campus, all coming online in the ensuing months. In addition to a wide variety of events and experiences at the University, including the innovative Discovery District, residents will also have convenient access to major shopping and retail options off Route 1, such as Target, Best Buy and Ikea.

“It’s clear that College Park has become one of region’s most ideal places to live as companies and people continue to relocate here. Its growing entertainment, lifestyle and transportation options are driving considerable interest,” said Zimmerly. “In recognizing this, we’ve made Fuse 47 to connect residents with a network of parks, college events and expanding retail options, all a small distance away, to serve the professionals, faculty and students that we are targeting.”

Pre-leasing at Fuse 47 has begun and the first units will be available in June 2017. The ground-up project broke ground in the fall of 2015 and is scheduled for completion in late summer of 2017.

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PHOENIX, AZ – Alliance Residential Company, the nation’s largest multifamily developer and seventh largest multifamily manager, is bringing five new luxury communities with more than 1,300 new units to prospective residents across the Valley.

Headquartered in Phoenix since 2000, Alliance has a major development and management presence in the area with over 42 communities in various neighborhoods including Phoenix, Scottsdale, Tempe, Chandler and Gilbert. All of the new metro-Phoenix apartment properties are Alliance’s signature Broadstone communities, built in desirable neighborhoods and offering an exclusive lifestyle and extraordinary amenities.  Since 2013, Alliance has developed or is currently developing 10 communities (more than 2,670 units) throughout the Valley.

“The Metro Phoenix area has proven to be a thriving business environment which continues to support development of Class A residential communities,” said Ian Swiergol, managing director for Alliance Residential Company. “Residents are attracted to properties with finishes and amenities that match or mirror the high-end nature of their locations. Alliance has been part of this growing and vibrant metro area for many years and adding these new communities cements our commitment to developing best-in-class properties in the region,” Swiergol said.

The recently opened Broadstone Fashion Center is a 335-unit community offering high-style apartments in Chandler’s Fashion District. Located at 555 S. Galleria Way, within walking distance of Chandler Fashion Center, Broadstone Fashion Center is a stylish icon in Chandler where living meets laidback luxury. Studio, one- and two bedroom apartments ranging from 669 square feet to 1,306 square feet are currently available for rent from $1,000 $1,950. Resident amenities include social gaming and technology lounges, decked-out fitness spaces, a sparkling pool with shaded cabanas, and a private pet park. Known as “The Silicon Desert,” Chandler is one of the fastest growing high-technology cities in the west and Broadstone Fashion Center is in the thick of it all.

Broadstone Arts District, which is now open for pre-leasing, is Alliance Residential’s latest downtown Phoenix luxury apartment community. The 280-unit community located in the heart of the dynamic Arts District connects downtown to historic neighborhoods including Garfield, Evans Churchill, F.Q. Tale, Willo, Roosevelt, Historic Roosevelt and Grand Avenue. Located at 222 E. McDowell Road adjacent to the Phoenix Theatre and Phoenix Art Museum, Broadstone Arts District is a sensory living experience where art, design and culture come together. The studio, one- and two-bedroom apartments and penthouse options are available from 606 square feet to 1,148 square feet with rents ranging from $1,200 to $2,950. Community amenities include the two-tale Gala Room with an upscale chef’s kitchen, a social and gallery flex space known as the Canvas @ Broadstone and the Art Promenade that is equipped with a sprawling gaming area and outdoor dining spaces. Residents are next door to the Phoenix Art Museum, walking distance to Roosevelt Row and steps from the light rail.

Broadstone Roosevelt is a 316-unit community located at 330 E. Roosevelt in downtown Phoenix. Currently under construction, the community will offer residents studio, one-, two- and three-bedroom apartments, as well as brownstones when it opens for pre-leasing in the fall of 2017.  Situated in the notable Roosevelt Row district which has become nationally known for its arts and cultural events, galleries, live music and award-winning restaurants, Broadstone Roosevelt will continue this community spirit and house retail and restaurant space connected to its lobby, open to residents and the public.

Broadstone Gilbert Heritage, a 256-unit community located at 230 E. Civic Center Drive, is currently under construction in downtown Gilbert and will open for pre-leasing in the summer of 2017. Broadstone Gilbert Heritage will offer carriage, one-, two and three-bedroom apartments and is situated adjacent to the Gilbert Civic Center and Gilbert Town Hall and is bordered by the emerging Downtown Gilbert Heritage District, filled with cultural attractions, restaurants, shops and parks.

Broadstone Lakeside will offer studio, one-, two- and three-bedroom apartments ranging from 624 to 1,875 square feet. Located at 500 W. 1st Street, the 150-unit community in the heart of Tempe is within walking distance of Tempe Town Lake and offers a light rail stop less than a half-mile way, giving residents simple access to Arizona State University and downtown Phoenix. The community is being designed to serve the growing urban employee demographic that occupies the millions of new Class A office space recently developed along Tempe Town Lake.  This community is currently under construction and will be open for pre-leasing near the end of 2017.

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