Oakwood Reaches Milestone with 10th Branded Property in Tokyo

Oakwood Apartments Minami Azabu result of partnership with Pacific Development & Management Co., Ltd

SINGAPORE – May 27, 2016 – Oakwood Asia Pacific Ltd, which manages an award-winning portfolio of serviced apartments for business and leisure travelers, sealed its partnership with Pacific Development & Management Co., Ltd. with the announcement that it will open Oakwood’s milestone 10th property in Tokyo, Oakwood Apartments Minami Azabu.

Slated to open in 2016’s third quarter, Oakwood Apartments Minami Azabu will be located in the popular Azabu area with a mix of studio and one-bedroom apartments all furnished with modern essentials. Its prime location allows guests to easily access popular areas such as Azabujuban’s shopping streets, the trendy neighbourhood of Ebisu as well as bustling Roppongi.

“We are humbled that Pacific Development & Management Co. has chosen Oakwood to be their partner in their foray into serviced apartments,” said Dean Schreiber, Managing Director of Oakwood Asia Pacific Ltd. “With our heritage in global mobility and our award-winning portfolio, Oakwood remains a trusted brand that has evolved with time and resonates with owners and customers alike. This is an exciting time for us and our partners as we continue to grow our brand – solidifying our positions in existing markets whilst expanding into new ones. This year alone, we have 8 new properties scheduled for opening, increasing our inventory by an estimated 30 percent.”

With more than 20 years of background in real estate, Pacific Development & Management Co., Ltd is seeking to develop their business portfolio to include serviced apartments through this partnership. Oakwood Apartments Minami Azabu will be Pacific Development & Management Co., Ltd’s first investment in serviced apartments.

With the addition of Oakwood Apartments Minami Azabu as the tenth property, Oakwood will operate two Oakwood Premier properties, four Oakwood Residence properties and four Oakwood Apartment properties in Tokyo, making it the most dominant operator of serviced accommodation in one of the world’s most metropolitan cities.