Palms Ryogoku, is a modern 49-key multi-family residential asset in the heart of Tokyo\u2019s historic center of sumo wrestling. The riverside town of Ryogoku in Sumida ward hosts the sport\u2019s most famous tournaments and is home to numerous sumo training stables. The ward also features the world famous Sensoji Temple, Tokyo SkyTree and various world-class restaurants, traditional craft workshops and cultural museums. It is conveniently located within walking distance from Tokyo\u2019s train network, providing easy access to major commercial districts and international airports.\n<\/p>\n The new acquisition is the first seed asset of the joint venture and Dash Living\u2019s eleventh location in Tokyo. It was formerly a residential asset with traditional Japanese leases, which will be repositioned into mixed-use, long and short-stay accommodation with fully furnished apartments and high-quality shared facilities, including Dash Living\u2019s signature technology-enabled access to global shared amenities, events and customer services.\n<\/p>\n Demand for short-stay accommodation has been on the rise in Japan in recent years, thanks to the government\u2019s policy to boost tourism entries to 60 million annually by year 2030. In 2018, Japan\u2019s minpaku law came into effect and tightened regulation around offering short-stay accommodation. This helped to inject further supply in the market while maintaining the quality and safety of communities. Dash Living has been the pioneer and market leader in this sector, using technology, community-driven, and cost-effective regional operations to provide long-stay stable income while using short-stay to enhance rental yields. Up to 2023, Dash Living has successfully attracted foreign capital and exited three assets in Tokyo this year for their investors, delivering opportunistic-level returns in the living sector with the help of Crosspath Advisors, the asset manager for this strategic asset.\n<\/p>\n \u201cJapan is currently Dash Living\u2019s fastest growing market and could become our biggest by AUM and beds over the next few years. We are delighted to join hands with a world-class, trusted asset manager such as Schroders as we continue to expand our Asia Pacific portfolio on our quest to empower living in a connected world,\u201d said Aaron Lee, CEO and founder, Dash Living. \u201cOur first asset together in Ryogoku is ideal for urban professionals and provides an upmarket accommodation option in an accessible and unique neighbourhood in Tokyo.\u201d\n<\/p>\n \u201cJapan is one of our focused markets in Asia, and we are pleased to partner with a regional market leader like Dash Living who is equipped with proven track-record in creating value in the living sector. Dash Living\u2019s entrepreneurial approach resonates well with ours and we look forward to our new journey together with this acquisition as well as many more to come,\u201d added Keisuke Kusano, Head of Real Estate, Japan, Schroders.\n<\/p>\n Dash Living was founded in Hong Kong in 2014 and has since grown its footprint across key regions including Singapore, Japan, and Australia, building a connected living community across APAC. It marked a major milestone in 2021 when it kickstarted the first stage of its expansion in Tokyo. Since then, through a combination of expansion, strategic acquisition and rebranding of IntheHood Hospitality in 2022, its portfolio in the market has reached 11 locations in Tokyo. Hashtag: <\/b>#DashLiving<\/p>\n
\nTOKYO, JAPAN –
\nMedia OutReach<\/a> – 6 November 2023 – Dash Living, Asia Pacific\u2019s leading provider of rental housing, and global investment management firm Schroders with USD $923.1 billion assets under management[1]<\/a>, have jointly completed the acquisition of a strategic seed asset located in Ryogoku to further expand their portfolio in the Japan property market, which has been enjoying a surge in institutional capital inflow of late and increasing investments by major real estate investors.<\/p>\n
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