Singapore's Mapletree Investments has bought partner Oakwood Worldwide, the world's largest provider of corporate housing and serviced apartments. The acquisition of US-based Oakwood for an undisclosed sum is in line with Mapletree's strategy to expand outside of Asia. Mapletree first collaborated with Oakwood in 2014, when the two companies signed a $5 billion joint venture deal to open more than...
Oakwood Worldwide
Mapletree Investments and California-based Oakwood Worldwide have signed a multibillion-dollar deal to acquire and develop serviced apartments. Under the deal, Mapletree will acquire a 49 per cent stake in Oakwood Asia Pacific -- the United States firm's serviced apartment business in Asia -- for an undisclosed amount. The joint venture then aims to acquire and develop some US$4 billion (S$5 billion)...