Oakwood to Open Marquee Property in Chicago Offering Furnished and Unfurnished Apartments
Jones Chicago in the vibrant River North neighborhood acquired by Mapletree Investments and renamed Oakwood Chicago River North
LOS ANGELES, Jan. 10, 2019 /PRNewswire/ -- Oakwood, wholly owned by Mapletree Investments ("Mapletree"), announced today the acquisition of Jones Chicago by Mapletree, a modern 25-story residential property at 220 West Illinois Street, in Chicago's River North neighborhood. Renamed as Oakwood Chicago River North, the property will offer business professionals, individual travelers and long-term residents a luxurious furnished apartment experience – as well as unfurnished leases of nine months or more – in one of Chicago's most vibrant, in-demand neighborhoods.
"Mapletree is pleased to expand its footprint in the United States (US), with Oakwood Chicago River North joining our portfolio, which currently includes properties situated in Los Angeles, Redwood City, Seattle and Raleigh," said Chua Tiow Chye, deputy group chief executive officer. "Chicago is a top destination for many of the world's biggest companies, and we invested significant resources in selecting the best neighborhood for Oakwood's global clients, as well as corporate and leisure travelers."
Oakwood is rapidly increasing its management of corporate housing and serviced apartment assets worldwide, including planned properties in Dubai, Thailand and China. "The addition of Oakwood Chicago River North – which will be one of Oakwood's premier furnished and serviced apartment properties in the US – to our growing portfolio reflects our evolving approach to global expansion," explained Chris Ahearn, chief executive officer, Oakwood.
Designed with both modern luxury and sustainability in mind, Oakwood Chicago River North comprises 188 units on 25 floors and offers a variety of flexible, one- and two-bedroom configurations. The Hartshorne Plunkard Architecture-designed building is LEED Gold Certified and boasts spectacular city views with floor-to-ceiling windows. Amenities include a rooftop lounge, a pool and sundeck area, modern athletic/fitness facilities, a covered dog run and dog-washing stations, and more. Notably, the address carries a Walk Score® of 95 – ideal for pedestrians and residents to traverse the city.
About Oakwood®
Oakwood®, a wholly owned subsidiary of Mapletree Investments, is the leading global accommodation solutions provider helping businesses and individual travelers be anywhere they need to be. With an extensive and flexible selection of move-in ready furnished and serviced apartments, Oakwood has enabled thousands of companies to expand their reach to more customers and markets. The award-winning company continues investing in its exclusive and growing portfolio of Oakwood-branded properties throughout the Americas, EMEA (Europe, the Middle East and Africa) and APAC (Asia Pacific) offering travelers a broad range of accommodation options from apartments with luxurious style and full amenities to sensible accommodations with modern essentials. For more information, please visit www.Oakwood.com.
About Mapletree
Mapletree is a leading real estate development, investment, capital and property management company headquartered in Singapore. Its strategic focus is to invest in markets and real estate sectors with good growth potential. By combining its key strengths, the Group has established a track record of award-winning projects, and delivers consistent and high returns across real estate asset classes.
Mapletree currently manages four Singapore-listed real estate investment trusts (REITs) and six private equity real estate funds, which hold a diverse portfolio of assets in Asia Pacific, the United Kingdom (UK) and the United States (US).
As of 31 March 2018, Mapletree owns and manages S$46.3 billion of office, retail, logistics, industrial, residential, corporate housing / serviced apartment, and student accommodation properties. The Group's assets are located across 12 economies globally, namely Singapore, Australia, China, Germany, Hong Kong SAR, India, Japan, Malaysia, South Korea, the UK, the US and Vietnam. To support its global operations, Mapletree has established an extensive network of offices in these countries.
For more information, please visit www.mapletree.com.sg/ .
SOURCE Oakwood
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