LOS ANGELES – April 18, 2017 – Oakwood Worldwide®, the global leader in corporate housing and serviced apartment solutions, opens Oakwood Olympic & Olive, a stylish addition to its portfolio of more than 50 branded properties globally. Located at 1001 South Olive Street in the heart of Downtown Los Angeles, this newly constructed property is also the ninth US corporate housing asset owned by Singapore-based Mapletree Investments, the parent company of Oakwood Worldwide. This is the first property added to Oakwood’s portfolio since Mapletree acquired Oakwood Worldwide in February 2017.
Oakwood Olympic & Olive combines modern architectural design and urban accessibility, located within easy reach of L.A. Live, the Financial District and the Fashion District. This modern midrise apartment community features an energetic downtown presence where residents can experience boutique-style design, including a hip seventh floor sky lounge, downtown views from the pool deck and townhomes with front-door stoops along Olive Street. The outdoor spaces and other amenities foster a sense of community for residents, creating an urban oasis amidst the downtown energy.
The property offers furnished and unfurnished apartment options, and includes 201 units of studio, one- and two-bedroom accommodations with open-concept living areas. The units feature designer finishes, including quartz countertops, glass-tile backsplashes, stainless steel appliances, gas ranges, 10-foot ceilings and in-unit washers and dryers. The fully furnished apartments are comfortable and complete with fully equipped kitchens and contemporary furniture. The property’s outdoor spaces include a pool, as well as more intimate spaces for smaller gatherings and a paw park for four-legged residents. Onsite conveniences include secure bike storage, underground parking with EV charging stations, multiple co-working spaces for groups two-12, and a high-tech fitness center. With a Walk Score of 95, a Transit Score of 100 and a Bike Score of 82, guests will enjoy easy access to the downtown Los Angeles area, including close proximity to the 10 and 110 freeways and a six-minute walk to the Pico Metro stop on the Blue Line.
“Oakwood Olympic & Olive represents an evolving approach in our collection of serviced apartments, and we are excited to invite our clients and guests to experience the revitalization of Downtown LA and live like a local in our newest addition to the Oakwood family,” said Chris Ahearn, CEO, Oakwood Worldwide. “This modern style and design, along with the community-enhancing common spaces, reflect the qualities we are seeking in the new properties we will be adding to our portfolio as we accelerate our global expansion.”
Oakwood Olympic & Olive is Oakwood Worldwide’s third branded property in Los Angeles. 2016 saw the company expanding its branded properties into four new countries, Australia, Malaysia, Singapore and Vietnam, as well as increasing its presence in markets where it already has properties, such as London, Tokyo, Jakarta and several locations in China.
With its acquisition of Oakwood Worldwide, Mapletree has reaffirmed its intentions to accelerate the acquisition and development of Oakwood-managed corporate housing and serviced apartment assets in the US, Europe and Asia Pacific. In addition to the ten Mapletree properties operated by Oakwood in the US and Australia, Mapletree is currently developing three serviced apartment properties in Japan and Vietnam which will be managed by Oakwood Worldwide upon completion.