DEAL OF THE DAY: Corporate Housing JV Enters Pacific Northwest
The Oakwood and Mapletree joint venture continues its buying spree.
Seattle—Corporate housing firm Oakwood Worldwide has acquired a newly built, 100-unit community in Seattle’s South Lake Union neighborhood. The LEED Silver community is the fifth acquisition completed by the firm’s joint venture with Singapore’s Mapletree Group. It is Oakwood’s first buy in the Pacific Northwest, and follows recent buys in Raleigh, Dallas and the Silicon Valley.
“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.”
Re-branded as Oakwood Seattle South Lake Union, the property features a lounge with community kitchen, pool table, shuffle board table, darts and pinball machine, as well as a rooftop deck with barbecues and an outdoor fireplace.
The property is only a six-minute drive, or 30-minute walk, to central downtown and 20 minutes to Seattle-Tacoma International Airport.
