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Dash Living buys US$400 mil of Tokyo multifamily assets

EdgeProp Singapore

/ EdgeProp Singapore

March 19, 2026 4:27 PM SGT

propertyeditor@edgeprop.sg

propertyeditor@edgeprop.sg

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The Dash Living Kuramae property (middle). The acquisition of the eight assets adds about 500 keys to the portfolio. (Photo: Dash Living website)

The Dash Living Kuramae property (middle). The acquisition of the eight assets adds about 500 keys to the portfolio. (Photo: Dash Living website)

Dash Living — which has a portfolio of hotels, co-living properties, and serviced apartments in Hong Kong, Singapore and Japan — has acquired eight multifamily assets in Tokyo with a gross asset value of about US$400 million ($513.2 million).

These comprise tenanted assets that will be gradually transitioned into Dash Living’s operational management, as well as ground-up developments, said the Hong Kong-based firm in a March 19 announcement.

Three of the assets, located in the residential districts of Kuramae, Ryogoku, and Nezu, are operational and accepting bookings. The five properties situated in Toranomon, Shinjuku, Hatagaya, Nishi Shinjuku Gochome, and Azumabashi are scheduled to be completed in stages throughout 2026.

Read also: Seoul, Tokyo to lead global prime residential growth this year: Savills

The acquisition adds about 550 keys in total, bringing Dash Living’s global portfolio to more than 2,000 keys across 42 assets.

Dash Living is a living-sector investment and operator platform backed by Rava Partners, the real estate private equity arm of global private alternative asset manager Hillhouse Investment Management.

Aaron Lee, CEO and founder of Dash Living, said the company’s ability to source, structure and operationalise investments of this calibre is what sets it apart. “We look forward to bringing more partners along as we continue to curate and grow this portfolio across the region,” Lee added.

Joe Gagnon, co-head of Rava Partners and partner at Hillhouse Investment, highlighted Dash Living’s “proven ability to generate rental uplift across their assets, supported by a proprietary tech-enabled platform”.

“Our conviction in the Dash Living platform and these investments remains strong, and we are excited to grow our institutional partnerships,” Gagnon said.

For more news and analysis, read our weekly e-paper. Prefer a print copy? Get it delivered to your home of office every Monday.

Read also: Brookfield acquires Dentsu office tower in central Tokyo

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