Global asset manager Aberdeen Investments and living sector operator Weave Living have acquired six residential properties in Japan on behalf of an unnamed European institutional partner.
The portfolio, in central Tokyo, comprises 275 units completed between 2023 and 2026.
Financial terms were not disclosed.
The deal expands Aberdeen’s Japanese residential portfolio to 57 assets valued at JPY150bn (€813m), building on previous capital deployments in the sector, including a Japan living mandate awarded by Dutch pension manager PGGM in 2024.
The transaction also increases Weave Living’s Japan portfolio to JPY110bn, which includes its existing residential investment partnership with KKR.
Harumi Kadono, head of Japan real estate, Aberdeen Investments, said: “These transactions reflect our long-term commitment to growing our real estate presence in Japan. We remain highly constructive on the outlook for Japan’s residential market, particularly in Tokyo, where strong rental demand, constrained supply and supportive demographic trends continue to underpin resilient fundamentals.
“We are pleased to be partnering with Weave Living, Asia-Pacific’s pre-eminent living sector specialist, to deliver a differentiated rental housing solution for tenants in central Tokyo.”
Sachin Doshi, founder and group CEO of Weave Living, said: “As part of the accelerated growth of our integrated living sector-focused funds management business in Japan and across Asia-Pacific, we are delighted to announce this venture with Aberdeen Investments.
“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.”
Five of the assets will be operated under Weave Living’s flexible rental platform, Weave Place, with the final property managed as traditional build-to-rent.
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