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Japan: Urban rental accommodation brand Weave Living has partnered with real estate investment management group BGO Strategic Capital Partners to acquire a portfolio of 10 residential properties in Tokyo valued at JPY 22 billion (nearly £104 million).
The 10 acquisitions will expand three of Weave’s brands in Tokyo: Base, which offers unfurnished multifamily apartments; Place, which offers furnished apartments; and Residences, providing luxury homes.
Through its Japan-focused investment strategy, Weave Living has acquired more than JPY 60 billion (approximately £300 million) of assets in Tokyo in the last six months.
The group’s portfolio across Asia-Pacific now represents more than 53 properties across five gateway cities.
Sachin Doshi, Weave founder and CEO, said: “As part of the accelerated growth of our integrated living sector focused funds management business in Japan and across Asia-Pacific, we are thrilled to welcome BGO Strategic Capital Partners as our newest investor for this portfolio acquisition. These latest additions to our Japan portfolio are a demonstration of our commitment to offering a diversified mix of living options to discerning domestic and expat renters in prime Tokyo locations.”
John So, co-head and managing director of BGO Strategic Capital Partners, said: “We are excited to partner with Weave Living in Japan’s multifamily sector. This partnership underscores our conviction in the long-term fundamentals of Japan’s residential sector and in Weave Living’s ability to create exceptional value through their hands-on asset management approach utilising their unique digital platforms, combined with a strong on-the-ground local team. We look forward to this venture and expanding our relationship with Weave Living.”
Highlights:
- Weave Living has partnered with BGO Strategic Capital Partners to acquire 10 residential properties in Tokyo valued at JPY 22 billion (£104 million)
- The acquisition expands three Weave Living brands in Tokyo: Base (unfurnished), Place (furnished), and Residences (luxury homes)
- Weave Living has now acquired over JPY 60 billion (£300 million) of Tokyo assets in the past six months under its Japan-focused investment strategy.
- The group’s Asia-Pacific portfolio exceeds 53 properties across five gateway cities
