KKR and Weave Living have established a strategic partnership to launch “Weave Living Japan Residential Venture I,” aiming to develop a portfolio of over 3,000 residential units in Japan, the companies said.
The initiative, which focuses on Tokyo with potential expansion to Osaka, targets both newly built and existing assets.
It builds on the pair’s urban living collaboration in South Korea, announced earlier this year, leveraging Weave Living’s vertically integrated management capabilities and digital-first approach to enhance Japan’s rental housing market.
The venture has been seeded with 11 brand-new residential properties in Tokyo, comprising 439 units acquired and stabilized by Weave Living over the past year. These properties are nearly fully occupied under a mix of traditional and fixed-term leases.
David Cheong, Managing Director and Co-Head of Acquisitions at KKR’s Asia Real Estate team, described Japan as a “key market” for KKR’s real estate strategy in Asia Pacific.
“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,” he said.
Sachin Doshi, Founder and Group CEO of Weave Living, said the collaboration underscores confidence in the company’s innovative approach to the rental housing sector.
“Weave Living Japan Residential Venture I is the first in a series of Japan-focused vehicles that Weave Living intends to launch as the country becomes our most prolific market by AUM in the coming years,” Doshi added.
KKR’s investment comes from its Asia Real Estate Partners fund and marks the firm’s latest foray into Japan’s real estate market.
Recent investments include a portfolio of multifamily properties in Tokyo, the Hyatt Regency Tokyo, and office assets across Japan, among others.
This latest partnership reflects KKR’s growing footprint in Japan’s real estate sector and aligns with Weave Living’s ambition to reshape the region’s rental housing ecosystem.
Business News Asia