Hong Kong-based Dash Living and global investment management firm Schroders have formed an investment joint venture and acquired a residential property in Japan as a seed asset for the partnership.

The partners bought the 49-key multi-family residential asset in Tokyo’s riverside town of Ryogoku in Sumida ward.

Keisuke Kusano, Schroders’ head of real estate in Japan, said: “Dash Living’s entrepreneurial approach resonates well with ours and we look forward to our new journey together with this acquisition as well as many more to come.”

“Japan is currently Dash Living’s fastest growing market and could become our biggest by AUM [assets under management] and beds over the next few years,” said Aaron Lee, CEO and founder, Dash Living.

Lee said the partnership’s first asset is “ideal for urban professionals and provides an upmarket accommodation option in an accessible and unique neighbourhood in Tokyo”.

The new acquisition is the first seed asset of the joint venture and Dash Living’s eleventh location in Tokyo.

To read the latest IPE Real Assets magazine click here.