Weave Living steps up expansion in Japan and acquires nine assets in Tokyo
By Cecilia Chow
/ EdgeProp Singapore |
One-bedroom loft unit at Waseda Park (Photo: Weave Living)
Hong Kong-headquartered integrated rental accommodation provider Weave Living embarked on its next expansion phase into Japan by acquiring nine new multi-family residential properties totalling 352 units. The buildings are in prime locations in Tokyo.
The acquisition follows the company’s launch of a wholly owned subsidiary in Japan, along with a Tokyo office, and the appointment of industry veteran Daisuke Noguchi as Japan country head in April 2023. Noguchi was formerly head of acquisitions at Allianz Real Estate. The team in Tokyo has since grown to 12 professionals across acquisitions, development, asset management, leasing and operations.
Weave's one-bedroom unit at Monzennakacho in Tokyo (Photo: Weave Living)
Weave opened its first three properties in Tokyo on Nov 3. They are located in Waseda, Monzennakacho, and Higashi-koenji. Japan is Weave Living’s third market in the region, following its expansion in Hong Kong and Singapore. The company expects to announce further acquisitions in Japan over the next few months as it rapidly scales up its presence in the key cities of Tokyo and Osaka.
“Our aim is to grow our Japan AUM [asset under management to over US$1.5 billion, representing more than one-third of our overall asset base by 2025,” says Sachin Doshi, founder and group CEO of Weave Living.
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