Aberdeen partners Weave Living to buy six Tokyo residential properties
Five of the assets will be operated as furnished flexible rental flats under Weave Place– a brand managed by Weave Living. The sixth asset will remain to be run as a typical built-to-rent residential property.
The properties being bought were secured off-market through Weave Living. Comprising a total of 275 residential units, all 6 real estates were completed in between 2023 and 2026. They are located around various wards in central Tokyo, throughout a 10-minute walk of the nearest train terminal.
The acquisition will certainly strengthen Aberdeen’s Japan living portfolio, which ranked at 57 estates with a total assessment of around JPY150 billion ($1.2 billion) as of June.
“As part of the increased development of our incorporated living sector-focused funds management service in Japan and throughout Asia Pacific, we are delighted to announce this project with Aberdeen Investments,” said Sachin Doshi, founder and CEO of Weave Living.
The properties are being acquired in behalf of a European financier that is a continual affiliate of Aberdeen in the region, the international property executive stated in an Aug 17 launch. The package value was not revealed.
Aberdeen Investments is purchasing 6 properties in Tokyo in partnership with Hong Kong-based rental accommodation provider Weave Living.
The properties will cater to increasing need for flexible living services in Japan, said Harumi Kadono, Aberdeen’s head of Japan property. “Partnering with Weave Living gives us a skilled manager on the ground in Tokyo and allows us to meet that demand with a genuinely differentiated rental product,” he included.
At The Same Time, Weave Living’s Japan account has grown to about JPY110 billion ever since it went into the market in 2023.
