LOS ANGELES, 2014-12-23 — /Travel PR News/ — Oakwood Worldwide, the global leader in corporate housing and serviced apartment solutions, has added a 232- unit apartment complex in Dallas, Texas to its global portfolio. The property, newly named Oakwood Dallas Uptown, is located in a high demand, upscale and walkable neighborhood in the heart of North Dallas. This is the second Oakwood-branded property acquired as part of Oakwood Worldwide and Mapletree Group’s recent multi-billion dollar joint venture.
“I am delighted to welcome Oakwood Dallas Uptown to the Oakwood Worldwide family; this is the perfect complement to our expanding portfolio,” said Howard Ruby, chairman, founder and chief executive officer, Oakwood Worldwide. “This is an exciting time for our company as we continue to evolve and look to fulfill our goal to extend Oakwood Worldwide’s branded and serviced apartment portfolio around the world by as many as 100 properties over the next five years.”
Originally named Bryson at City Place, Oakwood Dallas Uptown consists of both furnished and unfurnished studio and one- and two-bedroom apartments with the option of 24 different floor plans to provide balance and comfort to meet each guest’s individual needs and lifestyle. Amenities include a resort-style pool, a 10,000-square-foot, full-service athletic club, and outdoor lounge areas.
“We’re very pleased to add this property to our portfolio because it allows us to better serve our clients and guests who have been looking for apartments in this highly sought after area,” said M. Scott Orrantia, senior vice president and chief investments officer, Oakwood Worldwide. “This property is an ideal acquisition due to its great location in North Dallas adjacent to Dallas’ Central Business District and proximity to major employment hubs. It is located in a fantastic neighborhood one block from the Dallas Area Rapid Transit rail line station and surrounded by a wide range of shopping, dining and entertainment options, providing great access to local amenities for business travelers and their families.”
Oakwood Worldwide is planning improvements to apartment and community amenities at Oakwood Dallas Uptown including upgraded stone countertops, wood flooring and new lighting fixtures, as well as barbecue grills and cabanas at the pool and outdoor living areas.
About Mapletree
Mapletree is a leading Asia-focused 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. As of 31 March 2014, Mapletree owns and manages S$24.6 billion of office, logistics, industrial, residential and retail/lifestyle properties. Currently, it manages four Singapore-listed real estate investment trusts (REITs) and five private equity real estate funds, which together hold a diverse portfolio of assets in 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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Oakwood Worldwide added 232-unit apartment complex in Dallas, Texas to its global portfolio