Aberdeen partners Weave Living to buy six Tokyo residential properties
The properties being purchased were secured off-market with Weave Living. Consisting of a total amount of 275 residential units, all 6 properties were completed between 2023 and 2026. They lie across various wards in main Tokyo, within a 10-minute stroll of the nearby railway terminal.
The properties are being acquired in support of a European financier that is a continual associate of Aberdeen in the region, the global asset supervisor said in an Aug 17 launch. The package worth was not divulged.
Aberdeen Investments is purchasing 6 properties in Tokyo in collaboration with Hong Kong-based rental lodging firm Weave Living.
5 of the properties are going to be run as furnished versatile rental apartments under Weave Place– a label handled by Weave Living. The 6th property will continue to be run as a standard built-to-rent housing property.
The properties are going to cater to growing need for versatile living solutions in Japan, stated Harumi Kadono, Aberdeen’s director of Japan real estate. “Partnering with Weave Living gives us a skilled supervisor on the ground in Tokyo and allows us to fulfill that need with a genuinely distinguished rental product,” he included.
“As component of the accelerated growth of our integrated living sector-focused funds management business in Japan and across Asia Pacific, we are pleased to publicize this business venture with Aberdeen Investments,” said Sachin Doshi, founder and CEO of Weave Living.
The acquisition will strengthen Aberdeen’s Japan living portfolio, which ranked at 57 properties with a total evaluation of around JPY150 billion ($1.2 billion) since June.
Meanwhile, Weave Living’s Japan account has actually expanded to approximately JPY110 billion ever since it entered the market in 2023.
