Dash Living buys proptech firm to expand into Japan

Dash Living, a Hong Kong-based rental solutions provider, has acquired Tokyo-based property management firm intheHood Hospitality as the former looks to expand into Japan.

Dash Living places tenants in private rooms with shared common spaces / Photo credit Dash Living

The financial details of the acquisition were not disclosed.

As part of the deal, which is a share-swap-based M&A agreement, Dash Living will manage over 100 units of co-living spaces in Tokyo. After the deal, the firm will have a total of over 1,800 units in the Asia Pacific.

The agreement is expected to be completed by July 2022. In the meantime, intheHood will enter a transition phase to merge with Dash Living. Wesley Wen, Dash Living’s chief growth officer, and Joel Yu, intheHood’s co-founder, will lead the effort.

Dash Living is a platform that provides rental solutions in Hong Kong, Singapore, Tokyo, and Sydney. It offers stays for a minimum of one month, offering tenants services like access to gyms, dining, and discounted shopping options. It also gives tenants access to regular events via collaborations with local partners around activities such as yoga, bakery, and fitness.

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IntheHood operates hotels and furnished apartments in Tokyo, converting residential real estate into alternative lodging. Dash Living CEO Aaron Lee said both the companies have strong synergy and a similar asset-light approach to real estate.

Dash Living sees strong continued customer demand in the Asia Pacific, recording an average of 90% occupancy of its co-living spaces in 2021 despite the pandemic.