TE Capital Partners, a Singapore-based real estate investment manager, has partnered with Dash Living, a rental housing platform backed by Hillhouse, to acquire a prime residential property in Minami Azabu, Minato Ward, Tokyo. The joint venture will see TE Capital holding a majority stake, whilst Dash Living will manage the property and retain a minority interest.
The property, to be rebranded as Dash Living Minami Azabu, is strategically located within a seven-minute walk from Shirokane–Takanawa Station and close to Azabu-Juban Station, offering excellent connectivity across Tokyo. The ten-storey building, situated in the prestigious embassy district, comprises 130 units and spans approximately 8,400 square metres. It is surrounded by foreign embassies and international schools, making it a highly desirable location.
Dash Living plans to refurbish the units with premium finishes and contemporary furnishings, targeting professionals and expatriates seeking quality and convenience. The property will offer flexible living solutions, catering to the growing demand for high-quality accommodation in Tokyo.
Terence Teo, Managing Partner of TE Capital Partners, stated, “This acquisition reinforces our conviction in Tokyo’s residential sector, particularly the robust demand for furnished flats.” Aaron Lee, CEO of Dash Living, added, “Dash Living Minami Azabu marks our largest asset in Japan to date and represents a significant milestone for the group.”
The acquisition highlights the resilience of Tokyo’s residential market, driven by stable economic fundamentals and an influx of foreign professionals. The property is expected to benefit from sustained occupancy and long-term rental growth.
