Weave Living, a premier living sector specialist in the Asia-Pacific, and global investment leader KKR have announced the establishment of Weave Living Japan Residential Venture I, a strategic partnership aimed at transforming Japan’s multi-family housing market. This new collaboration seeks to develop a portfolio exceeding 3,000 residential units across Japan, with an initial focus on Tokyo and plans to expand to Osaka. The partnership will target both newly built and existing assets, emphasizing innovation and customer-focused solutions in Japan’s rental housing sector.
Expanding a Successful Collaboration
This venture builds upon the successful partnership between KKR and Weave Living in South Korea, announced earlier this year. Leveraging Weave Living’s vertically integrated management model and digital-first approach, the initiative aims to enhance Japan’s rental ecosystem through a commitment to differentiation and customer-centricity.
The new partnership has already made significant strides, seeding the venture with 11 newly constructed residential properties in Tokyo. These properties, totaling 439 units, were acquired and stabilized by Weave Living over the past year following its initial foray into Japan in 2023. Currently operating near full occupancy, the portfolio offers a mix of traditional and fixed-term lease options.
Leadership Perspectives
David Cheong, Managing Director and Co-Head of Acquisitions for KKR’s Asia Real Estate team, highlighted the significance of this partnership:
“We are pleased to extend our relationship with Weave Living beyond our successful collaboration in South Korea. Japan remains a pivotal market for KKR’s real estate strategy both in the Asia-Pacific and globally. We’re excited to bring our combined expertise to Japan’s multi-family residential sector.”
Sachin Doshi, Founder and Group CEO of Weave Living, echoed the sentiment, stating:
“This partnership with KKR marks another milestone for Weave Living. The endorsement of a second strategic collaboration underscores the value of our innovative approach to rental housing in the region. We are aligned with KKR in our vision for Japan’s multi-family sector and are eager to deepen this relationship as Japan emerges as our most significant market by assets under management.”
Doshi added that Weave Living Japan Residential Venture I is the first of several planned Japan-focused investment vehicles designed to establish the country as a key growth hub for the company.
KKR’s Broader Real Estate Footprint in Japan
KKR’s investment in this venture comes through its Asia Real Estate Partners fund, building on the firm’s growing activity in Japan. KKR has an extensive presence in Japan’s real estate market, with investments spanning hospitality, residential, and office assets. Recent projects include the Hyatt Regency Tokyo, the launch of Four Points Flex by Sheraton in partnership with Marriott International, and a portfolio of multifamily properties in Tokyo.
About Weave Living
Founded in 2017, Weave Living addresses the demand for high-quality, professionally managed rental accommodations. Operating across key cities in Asia-Pacific, the company manages approximately 3,000 units under four distinct brands: WEAVE STUDIOS, WEAVE PLACE, WEAVE SUITES, and WEAVE RESIDENCES. With offices in Hong Kong, Tokyo, Seoul, and Singapore, Weave Living employs over 160 professionals dedicated to redefining urban living.
About KKR
KKR is a global leader in alternative asset management, offering expertise in private equity, real estate, credit, and insurance solutions. With a focus on patient, disciplined investment and community support, KKR manages a diverse portfolio of investments worldwide, including its subsidiaries in retirement, life, and reinsurance products under the Global Atlantic Financial Group.
This partnership signifies a bold step forward in reimagining Japan’s rental housing landscape, harnessing the expertise of two market leaders to deliver innovative, customer-driven solutions.
