PGIM, Dash Living to Talk APAC Residential Growth on MTD TV Wednesday

Mingtiandi’s APAC Residential Forum continues Wednesday with a spotlight interview featuring top executives from PGIM Real Estate and Dash Living, fresh off the companies’ acquisition of The Sheung Wan hotel in Hong Kong’s Central district via their second joint venture.

Dash Living founder Aaron Lee joins PGIM Real Estate’s David Fassbender, a managing director who leads Japan at the property investment arm of Prudential Financial, for the 45-minute session on MTD TV.

The two guests will delve into the details of their expanded partnership and discuss prospects for Asia Pacific’s diversifying multi-family sector in a chat with Mingtiandi founder Michael Cole.

The presentation, which is sponsored by Yardi, begins at 10am Hong Kong time and will feature a live Q&A session after the chat for attendees to quiz the speakers on their outlook for the multi-family space. Viewers can register their attendance here.

Powerful Partnerships

Founded in Hong Kong in 2014, Dash Living manages 26 assets in Hong Kong, Singapore, Japan and Australia across 2,000-plus keys. The platform launched in Singapore by acquiring the EasyCity co-living platform in 2020, opened its first Australia project in 2021 and bought IntheHood Hospitality to enter Japan in 2022.

From 2022 to 2023, properties with a gross asset value of more than $500 million were acquired by global asset managers, including PGIM, to be run by Dash Living.

Earlier this year, PGIM signed a deal to purchase The Sheung Wan from Hong Kong-based Ovolo Group for HK$320 million ($41 million). The 56-key hotel has been managed by Dash Living since March 2021.

The transaction marked PGIM’s second tie-up with Dash Living, which also manages the US firm’s Dash Living on Hollywood project, located just minutes from The Sheung Wan.

Formerly the Travelodge Central Hollywood Road, PGIM acquired that property from fund manager Pamfleet (since acquired by Schroders) and Singapore-listed investment company ICP in January 2022 for a reported HK$850 million ($109 million).

Last November, Mingtiandi reported that a Dash-Schroders JV had acquired the Palms Ryogoku, a 49-key multi-family residential asset in Tokyo, for an undisclosed sum as the partnership’s first investment.

Forum Wraps With Oz Panel

This year’s APAC Residential Forum concludes Thursday with a panel discussion focused on student accommodation and build-to-rent housing in Australia.

The one-hour programme on MTD TV will feature Dan McLennan, founder and co-CEO of Local Residential; Keith Lucas, managing director of Sentinel; Stephen Gaitanos, managing director and group CEO of Scape; and Alek Misev, head of property at Aware Super.

The show will stream live at 10am Hong Kong time and end with a live Q&A session in which viewers can quiz the speakers on their market views.