Global investment firm KKR has partnered with Weave Living to develop a portfolio of over 3,000 residential units in Japan.
The firms have launched Weave Living Japan Residential Venture I to invest in both newly built and existing properties, initially focusing on Tokyo with the possibility of expanding to Osaka.
The venture has been seeded with 11 new residential properties in Tokyo, totalling 439 units. These properties were acquired and stabilised by living sector specialist Weave Living over the past year, following its debut acquisitions in Japan in 2023.
Weave Living said the Japan residential venture is the first in a series of Japan-focused vehicles that it intends to launch with its institutional capital partners “as the country becomes our most prolific market by AUM in the coming years”.
The new venture builds on the partnership between KKR and Weave Living, established earlier this year to invest in rental housing assets in South Korea.
The latest venture extends KKR and Weave Living’s relationship which involves a partnership created earlier this year to invest in rental housing assets in South Korea.
David Cheong, MD and co-head of acquisitions on KKR’s Asia real estate team, said: “We are pleased to extend our relationship with Weave Living beyond our successful strategic partnership in Korea and into Japan, which is a key market for KKR’s real estate strategy in Asia Pacific and globally.
“We look forward to working even more closely with Sachin and his talented team to bring our collective expertise and their differentiated approach to the multi-family residential sector in Japan.”
Sachin Doshi, founder and group CEO of Weave Living, said: “We are excited to be working with KKR again following the success of our collaboration in South Korea.
“Having their endorsement for a second programmatic strategic partnership is a strong vote of confidence for what we have built at Weave Living, and the innovation we continue to bring to the rental housing sector in the region.”
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