Friday, December 6, 2024
HomeStartup NewsHong Kong-Based Dash Living Acquired with BlackRock

Hong Kong-Based Dash Living Acquired with BlackRock

Dash Living, Asia Pacific’s largest rental housing company, and BlackRock’s Real Estate fund are investing in a Japanese premium multifamily project.

This acquisition shows both organisations’ commitment to finding value-add rental uplift prospects by turning residential buildings into flexible accommodations for Japanese business and leisure travellers.

The recently purchased 29-unit property in Higashi Komagata, Tokyo, is well situated five minutes’ walk from major tube lines (the Ginza Line and the Asakusa Line), providing quick access in 20 to 30 minutes to several core business districts. Ideally located next to well-known sites like the Asakusa Shrine and the Asahi Beer Factory, the hotel ensures that visitors will have an unforgettable stay.

Read also- Egypt-Based MNT-Halan Acquired with Tam Finans

According to the Japan National Tourism Organisation, the country is on track to surpass the 32 million annual foreign visitors it saw before to the epidemic by 2025, with a record 8.56 million visitors during the January–March quarter of 2024.

Read also- India-Based Latambarcem Brewers $1.5 Million in Pre-Series A Round Funding

Dash Living has made large investments in the Japanese market in recent years through a number of joint ventures and initiatives with international asset managers and financial institutions.

“We are thrilled to introduce our multifamily assets investment in Japan alongside BlackRock’s Real Estate business, seizing opportunities in the country’s thriving real estate market. Our collaboration with the real estate arm of the world’s largest asset manager demonstrates our ability to deliver attractive returns for investors,” said Aaron Lee, CEO and founder of Dash Living. “With a strong commitment to Japan, we are dedicated to further expanding our investment and growth opportunities to offer upscale and flexible accommodations in convenient and charming neighborhoods throughout Tokyo.”

After recent acquisitions of the rebranded Dash Living Ikebukuro West, Dash Living Ryogoku in a joint venture with another top asset manager, Dash Living Ueno Park, and Dash Living Yoyogi Uehara in partnership with the crowdfunding listed platform Creal, Dash Living’s growing portfolio now includes its 15th location with this most recent partnership with BlackRock’s Real Estate business.

“Japan’s real estate market for multifamily assets is highly attractive and offers substantial opportunities given the surge in business travel and tourism. We are excited to be collaborating with Dash Living to capitalize on this burgeoning demand by repositioning multifamily assets to generate value-add returns for our investors,” said Daigo Hirai, BlackRock Managing Director and Head of Japan Real Estate.

About Dash Living

Dash Living, supported by MindWorks, Grosvenor, Taronga Ventures, Chinachem, and others, is Asia Pacific’s largest rental housing provider in Hong Kong, Singapore, Japan, and Australia. With over 2,000 rooms, Dash empowers connected living through sharing economies, tech, and unique tenant experiences.

About Blackrock

BlackRock manages assets and provides technologies worldwide. They want to improve financial well-being for more individuals.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular