LOS ANGELES, CA - Oakwood Worldwide, the global leader in corporate housing and serviced apartment solutions, announced it has added a 60-unit multifamily apartment complex in Los Angeles, newly renamed Oakwood Miracle Mile, to its global portfolio of managed apartments. The luxury apartment complex, originally known as Viridian, was purchased by Singapore-based Mapletree Group as part of its joint venture with Oakwood Worldwide.
"We're excited to add this property to our portfolio because it is uniquely situated in the heart of one of the most vibrant cities in the world," said Andreis Lewis, vice president, real estate management Oakwood Worldwide. "This centrally located building meets the needs of many of our clients no matter which direction work takes them. Additionally, we're pleased to be adding another branded property in our hometown, where Oakwood Worldwide was founded and our corporate headquarters is located. With three branded buildings and more than 1,500 units in Southern California, we're proud of our strength in this market, which allows us to serve the needs of so many clients."
Oakwood Miracle Mile is a "walker's paradise," scoring a 92 walking score out of a possible 100, in the city known as the car capital of the world. It is also near a future Metro stop that will provide Oakwood Miracle Mile residents with a quick and reliable connection between Santa Monica and downtown Los Angeles.
The property consists of spacious one- and two-bedroom apartments with 17 diverse floor plans to meet guests' varied needs. The property also provides residents with lavish amenities including a spa and cardio room, a dedicated concierge and a business center for the residents' home office needs. Residents will also have restaurants, world-class museums and regional destination shopping centers right at their fingertips.
"This asset, being located in one of the United States' most diverse cities, aligns perfectly with the Mapletree-Oakwood joint venture's strategic investment strategy," said Mike Jara, west coast acquisitions director, Oakwood Worldwide. "Los Angeles is home to top employers across industries, including education, health, professional and business services and entertainment. Mapletree's acquisition of Oakwood Miracle Mile continues the strong momentum the joint venture has built on the West Coast, with the recent acquisitions in Seattle and Silicon Valley."