The transaction marks the first step in Weave's regional expansion beyond their Hong Kong base, where they have quickly developed a reputation as a market leader in developing co-living properties that they own and operate. New York-based private equity firm Warburg Pincus invested US$181 million of growth capital in Weave in November 2018. It has an option to invest a further US$232.5 million as Weave expands its footprint to other major cities within Asia Pacific.
The Ashurst team comprised of a joint team with Ashurst ADTLaw, led by partners院长莫洛兹and米歇尔e Phang, supported by Manse Park, Roger Dong, Daniel Yip, Vanessa Teo, Lavinia Mo and Vanessa Cheuk.
Deancommented, "We're delighted to have supported Weave Co-Living, a market leader in innovative housing solutions, on the first step of their expansion beyond Hong Kong. We wish them well as they set their sights on Australia, South Korea, India and other key markets in the region."
米歇尔eadded, "Weave's owner-operator model distinguishes them from their competitors as a leading lifestyle company that believes in owning real estate assets."