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Weave Living and KKR have announced a strategic partnership called ‘Weave Living Japan Residential Venture I’ to invest in multi-family assets in Japan. The venture aims to build a portfolio of over 3,000 residential units, primarily in Tokyo with potential expansion to Osaka. The partnership has already been seeded with 11 brand-new residential properties in Tokyo, comprising 439 units operating at near-full occupancy. This collaboration extends their existing partnership in South Korea and represents KKR’s continued investment in Japan’s real estate sector through its Asia Real Estate Partners fund.
Weave Living e KKR hanno annunciato una partnership strategica chiamata ‘Weave Living Japan Residential Venture I’ per investire in asset multifamiliari in Giappone. Il progetto mira a costruire un portafoglio di oltre 3.000 unità residenziali, principalmente a Tokyo con potenziale espansione a Osaka. La partnership è già stata avviata con 11 nuove proprietà residenziali a Tokyo, che comprendono 439 unità in prossimità della piena occupazione. Questa collaborazione estende la loro partnership esistente in Corea del Sud e rappresenta il continuo investimento di KKR nel settore immobiliare giapponese attraverso il suo fondo Asia Real Estate Partners.
Weave Living y KKR han anunciado una asociación estratégica llamada ‘Weave Living Japan Residential Venture I’ para invertir en activos multifamiliares en Japón. La iniciativa tiene como objetivo construir un portafolio de más de 3,000 unidades residenciales, principalmente en Tokio, con una posible expansión a Osaka. La asociación ya se ha iniciado con 11 nuevas propiedades residenciales en Tokio, que comprenden 439 unidades que operan con casi plena ocupación. Esta colaboración amplía su asociación existente en Corea del Sur y representa la continua inversión de KKR en el sector inmobiliario japonés a través de su fondo Asia Real Estate Partners.
Weave Living과 KKR은 일본의 다가구 자산에 투자하기 위해 ‘Weave Living Japan Residential Venture I’라는 전략적 파트너십을 발표했습니다. 이 프로젝트는 주로 도쿄에 3,000개 이상의 주거 유닛을 구축하고 오사카로의 확장을 고려하고 있습니다. 파트너십은 이미 도쿄에 11개의 신규 주거용 부동산으로 시작되었으며, 이는 439개 유닛으로 거의 전체 점유율로 운영되고 있습니다. 이 협력은 한국에서의 기존 파트너십을 확장하며, KKR의 아시아 부동산 파트너스 기금을 통해 일본 부동산 부문에 대한 지속적인 투자를 나타냅니다.
Weave Living et KKR ont annoncé un partenariat stratégique intitulé ‘Weave Living Japan Residential Venture I’ pour investir dans des actifs multifamiliaux au Japon. Ce projet vise à constituer un portefeuille de plus de 3 000 unités résidentielles, principalement à Tokyo, avec une éventuelle expansion à Osaka. Le partenariat a déjà été lancé avec 11 nouvelles propriétés résidentielles à Tokyo, comprenant 439 unités fonctionnant à pleine capacité. Cette collaboration élargit leur partenariat existant en Corée du Sud et représente l’investissement continu de KKR dans le secteur immobilier japonais à travers son fonds Asia Real Estate Partners.
Weave Living und KKR haben eine strategische Partnerschaft mit dem Namen ‘Weave Living Japan Residential Venture I’ angekündigt, um in Mehrfamilienimmobilien in Japan zu investieren. Das Vorhaben zielt darauf ab, ein Portfolio von über 3.000 Wohnheinheiten aufzubauen, hauptsächlich in Tokio, mit einer möglichen Expansion nach Osaka. Die Partnerschaft wurde bereits mit 11 neu errichteten Wohnimmobilien in Tokio eingeleitet, die 439 Einheiten mit nahezu voller Auslastung umfassen. Diese Zusammenarbeit erweitert ihre bestehende Partnerschaft in Südkorea und stellt KKR’s kontinuierliche Investition in den japanischen Immobiliensektor über ihren Asia Real Estate Partners Fonds dar.
Positive
- Partnership already secured 11 properties with 439 units at near-full occupancy
- Strategic expansion targeting 3,000 residential units in key Japanese markets
- Builds on existing successful partnership between KKR and Weave Living in South Korea
- Leverages Weave Living’s management capabilities and digital-first approach
Insights
This strategic partnership marks a significant expansion in Japan’s multi-family residential sector. The venture’s target of 3,000+ residential units represents a substantial market position, with an initial seed portfolio of 439 units across 11 properties already showing strong performance with near-full occupancy.
The partnership leverages KKR’s institutional capital and Weave Living’s operational expertise, building on their successful collaboration in South Korea. Japan’s multi-family sector offers attractive investment characteristics: stable cash flows, strong tenant demand and potential for operational improvements through professional management.
The deal aligns with KKR’s broader Asia-Pacific real estate strategy and expands their Japanese real estate portfolio, which includes REITs, hotels and office assets. For investors, this venture offers exposure to Japan’s resilient residential market while benefiting from professional management and digital innovation in the rental housing ecosystem.
TOKYO–(BUSINESS WIRE)– Weave Living, Asia-Pacific’s pre-eminent living sector specialist, and KKR, a leading global investment firm, today announced the establishment of a strategic partnership (“Weave Living Japan Residential Venture I”) in Japan. This collaborative effort is an active management-led multi-family residential program that aims to build a portfolio of over 3,000 residential units in Japan, investing in both newly built assets and existing assets with an initial focus on Tokyo and the potential of expanding to Osaka.
(Photo: Business Wire)
This strategic partnership builds on KKR and Weave Living’s urban living collaboration in South Korea, announced in March of this year, and will leverage Weave Living’s vertically integrated management capabilities and digital-first approach to bring innovation, customer centricity and differentiation to Japan’s rental housing ecosystem.
The strategic partnership has been seeded with 11 brand-new residential properties in Tokyo, comprising 439 units that Weave Living acquired and stabilized over the last 12 months since it announced its debut acquisitions in Japan in 2023. These assets are operating at close to full occupancy with a mix of traditional and fixed-term leases.
David Cheong, Managing Director 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. We are thrilled to deepen our relationship with KKR and are aligned in our expectations for the development of the multi-family sector in Japan and throughout the Asia Pacific region. We welcome their support for our latest initiative and intend to grow this strategic partnership quickly.” He added, “Weave Living Japan Residential Venture I is the first in a series of Japan-focused vehicles that Weave Living intends to launch with our institutional capital partners as the country becomes our most prolific market by AUM in the coming years.”
KKR is making its investment from Asia Real Estate Partners. The transaction marks KKR’s latest real estate investment in the Asia Pacific region and Japan. This investment adds to KKR’s continued activity and momentum in Japan’s real estate sector across different real estate investment strategies, including KJR Management, a leading Japanese real estate manager that oversees two Japanese REITs; Hyatt Regency Tokyo, a full-serviced hotel in Shinjuku; the launch of a new midscale hospitality brand Four Points Flex by Sheraton in Japan alongside Marriott International; a portfolio of multifamily properties in Tokyo; and office assets across Japan.
About Weave Living
Founded in 2017 by Sachin Doshi as a response to a large gap in the market for beautifully designed and professionally managed living options, Weave Living currently owns and operates c. 3,000 rental accommodation units across the Asia Pacific region under its four consumer brands — WEAVE STUDIOS, WEAVE PLACE, WEAVE SUITES and WEAVE RESIDENCES — catering to a broad and diverse demographic of urbanites and professionals in key gateway cities. The company operates out of four offices in Hong Kong, Tokyo, Seoul and Singapore with over 160 professionals.
Website: https://www.weave-living.com/en/jp
Instagram: @liveatweave
Facebook: @liveatweave
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241126418557/en/
Media Contacts
For Weave Living:
David McMahon (English)
Email: davidhoward.mcmahon@kyodo-pr.co.jp
Tel: (+81) 080-8914-9376
Aya Asoshina (Japanese)
Email: a-asoshina@kyodo-pr.co.jp
Tel: (+81) 070-4303-7299
For KKR:
KKR Asia Pacific
Wei Jun Ong
+65 6922 5813
FGS Global (for KKR Japan)
Samuel Brustad
+81 70 3853 3284
Source: KKR
FAQ
What is the target size of KKR and Weave Living’s Japan residential venture?
The venture aims to build a portfolio of over 3,000 residential units in Japan, focusing initially on Tokyo with potential expansion to Osaka.
How many properties has the KKR-Weave Living partnership already acquired in Japan?
The partnership has been seeded with 11 brand-new residential properties in Tokyo, comprising 439 units that are operating at close to full occupancy.
Which markets is KKR and Weave Living’s partnership targeting in Japan?
The partnership is initially focusing on Tokyo with potential expansion to Osaka.
What fund is KKR using for this Japanese real estate investment?
KKR is making the investment through its Asia Real Estate Partners fund.
