{"id":1004167234,"date":"2017-02-22T07:36:30","date_gmt":"2017-02-22T15:36:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004167234"},"modified":"2022-12-08T18:42:06","modified_gmt":"2022-12-09T02:42:06","slug":"mapletree-acquires-oakwood-worldwide-appoints-new-ceo","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mapletree-acquires-oakwood-worldwide-appoints-new-ceo\/","title":{"rendered":"Mapletree Acquires Oakwood Worldwide, Appoints New CEO"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<p><strong>Los Angeles<\/strong>\u2014Mapletree Investments Pte Ltd. announced the acquisition of&nbsp;Oakwood Worldwide. The deal&nbsp;includes all of the company&#8217;s global operations, as well as the appointment of Christopher Ahearn as Oakwood&#8217;s CEO.<\/p>\n<p>Ahearn brings his experience in growing and improving the operating performance of companies, which he gained while serving as senior advisor to TPG Capital. He will also capitalize on the industry knowledge he acquired while serving as Oakwood&#8217;s senior vice president of sales and marketing between 2005 and 2010.&nbsp;Oakwood&#8217;s Founder &amp; Chairman Howard Ruby will assume the non-executive role of Chairman Emeritus at Oakwood, where he will serve as an advisor on corporate housing business.<\/p>\n<div id=\"attachment_1004167238\" style=\"width: 341px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Howard-Ruby-chairman-emeritus-of-Oakwood-Worldwide-and-Chua-Tiow-Chye-group-chief-investment-officer-regional-chief-executive-officer-North-Aisa-New-Markets-of-Mapletree-Investments.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004167238\" data-attachment-id=\"1004167238\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/mapletree-acquires-oakwood-worldwide-appoints-new-ceo\/howard-ruby-chairman-emeritus-of-oakwood-worldwide-and-chua-tiow-chye-group-chief-investment-officer-regional-chief-executive-officer-north-aisa-new-markets-of-mapletree-investments\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Howard-Ruby-chairman-emeritus-of-Oakwood-Worldwide-and-Chua-Tiow-Chye-group-chief-investment-officer-regional-chief-executive-officer-North-Aisa-New-Markets-of-Mapletree-Investments.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;4&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 5DS R&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1487177355&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;44&quot;,&quot;iso&quot;:&quot;800&quot;,&quot;shutter_speed&quot;:&quot;0.016666666666667&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Howard Ruby, chairman emeritus of Oakwood Worldwide and Chua Tiow Chye, group chief investment officer &#038; regional chief executive officer, North Asia &#038; New Markets of Mapletree Investments\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Howard Ruby, chairman emeritus of Oakwood Worldwide and Chua Tiow Chye, group chief investment officer &#038; regional chief executive officer, North Asia &#038; New Markets of Mapletree Investments&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Howard-Ruby-chairman-emeritus-of-Oakwood-Worldwide-and-Chua-Tiow-Chye-group-chief-investment-officer-regional-chief-executive-officer-North-Aisa-New-Markets-of-Mapletree-Investments.jpg?w=800\" class=\"wp-image-1004167238 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Howard-Ruby-chairman-emeritus-of-Oakwood-Worldwide-and-Chua-Tiow-Chye-group-chief-investment-officer-regional-chief-executive-officer-North-Aisa-New-Markets-of-Mapletree-Investments.jpg\" alt=\"Howard Ruby, chairman emeritus of Oakwood Worldwide and Chua Tiow Chye, group chief investment officer &amp; regional chief executive officer, North Asia &amp; New Markets of Mapletree Investments\" width=\"331\" height=\"248\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Howard-Ruby-chairman-emeritus-of-Oakwood-Worldwide-and-Chua-Tiow-Chye-group-chief-investment-officer-regional-chief-executive-officer-North-Aisa-New-Markets-of-Mapletree-Investments.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Howard-Ruby-chairman-emeritus-of-Oakwood-Worldwide-and-Chua-Tiow-Chye-group-chief-investment-officer-regional-chief-executive-officer-North-Aisa-New-Markets-of-Mapletree-Investments.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Howard-Ruby-chairman-emeritus-of-Oakwood-Worldwide-and-Chua-Tiow-Chye-group-chief-investment-officer-regional-chief-executive-officer-North-Aisa-New-Markets-of-Mapletree-Investments.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 331px) 100vw, 331px\" \/><\/a><p id=\"caption-attachment-1004167238\" class=\"wp-caption-text\">Howard Ruby, Chairman Emeritus of Oakwood Worldwide, and Chua Tiow Chye, group chief investment officer &amp; regional chief executive officer, North Asia &amp; New Markets, Mapletree Investments<\/p><\/div>\n<p>Mapletree&#8217;s acquisition is part of the company&#8217;s long-term strategy to strengthen its corporate housing and serviced apartment business. All of the company&#8217;s nine corporate housing and serviced apartment assets in the U.S. and Australia are managed under the Oakwood brand as part of a collaboration that took place in 2014, which also included Mapletree acquiring a 49 percent stake in Oakwood Asia Pacific.<\/p>\n<p>In addition to the nine properties operated by Oakwood in the U.S. and Australia, Mapletree is currently developing three serviced apartment properties in <span class=\"xn-location\">Japan<\/span> and <span class=\"xn-location\">Vietnam<\/span> as well as one other asset in the U.S., which will be managed by Oakwood Worldwide upon completion.<\/p>\n<p>&#8220;This acquisition is strategic and commercially significant to Mapletree,&#8221; said Hiew Yoon Khong, Mapletree Group&#8217;s CEO, in prepared remarks.&nbsp;&#8220;Furthermore, Mapletree intends to step up the acquisition and development of corporate housing and serviced apartment assets that will add to our earnings streams and expand housing options available to Oakwood&#8217;s clients and guests. We will be looking at markets across the U.S., <span class=\"xn-location\">Europe<\/span> and <span class=\"xn-location\">Asia Pacific<\/span>, which are also regions where Oakwood is a well-regarded brand.&#8221;<\/p>\n<p><em>Image courtesy of Mapletree Investments<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The buyer is currently developing three serviced apartment properties in Japan and Vietnam, as well as one other asset in the U.S.<\/p>\n","protected":false},"author":746,"featured_media":1004167238,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,16,1594,23891,21742,15],"tags":[34055,34056,34054],"class_list":["post-1004167234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-international","category-los-angeles","category-national","category-latest","category-west","tag-howard-ruby","tag-mapletree-group","tag-oakwood-worldwide"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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