Aberdeen partners Weave Living to buy six Tokyo residential properties
Five of the properties are going to be operated as furnished flexible rental flats under Weave Place– a brand handled by Weave Living. The 6th possession will remain to be operated as a typical built-to-rent non commercial property.
Aberdeen Investments is purchasing six properties in Tokyo in collaboration with Hong Kong-based rental accommodation firm Weave Living.
The purchase will certainly build up Aberdeen’s Japan living portfolio, which stood at 57 estates with a total evaluation of around JPY150 billion ($1.2 billion) since June.
The real estates are being obtained on behalf of a European financier that is a continued partner of Aberdeen in the area, the global property executive mentioned in an Aug 17 release. The package worth was not revealed.
“As part of the accelerated development of our incorporated living sector-focused funds management business in Japan and across Asia Pacific, we are pleased to publicize this venture with Aberdeen Investments,” said Sachin Doshi, founder and chief executive officer of Weave Living.
The properties will cater to expanding demand for flexible living solutions in Japan, claimed Harumi Kadono, Aberdeen’s manager of Japan real estate. “Partnering with Weave Living gives us a qualified supervisor on the ground in Tokyo and enables us to fulfill that demand with a genuinely distinguished rental product,” he added.
At The Same Time, Weave Living’s Japan portfolio has grown to roughly JPY110 billion ever since it went into the market in 2023.
The properties being purchased were secured off-market via Weave Living. Consisting of an overall of 275 residential units, all 6 properties were completed between 2023 and 2026. They stand across various wards in main Tokyo, within a 10-minute walk of the nearby train terminal.
