Baker McKenzie advised Weave Living, Asia Pacific's preeminent living sector specialist, on its joint venture with a fund managed by BlackRock, the world's largest asset manager, to acquire Citadines Mount Sophia, a serviced apartment residence at 8 Wilkie Road in Singapore.

The newly acquired property, which marks Weave's second in Singapore and 22nd location in Asia Pacific, will undergo an extensive year-long renovation and reopen under the company's contemporary serviced accommodation brand, WEAVE SUITES, in early 2025. The joint venture partners anticipate a significant increase in yield and eventual capital value of the property through Weave Living's active operations and asset enhancement capabilities.

Partner Jason Ng and Special Counsel Hayley Irons* led the Baker McKenzie team, with support from associates Jojo Ha and William Tsang. 

Commenting on the deal, Jason Ng said: “We are very pleased to be able to assist Weave Living on this significant transaction, which adds to our client's rapidly growing portfolio of landmark properties in prime locations across the Asia Pacific region's key gateway cities. Leveraging our strong presence in Asia Pacific and deep sector knowledge of the real estate industry, we are delighted that we have been able to support Weave Living every step of their journey with their legal needs, and we look forward to continuing to work with the team as they expand throughout the region's most prominent rental housing markets and further grow their institutional asset management business.”

*Registered Foreign Lawyer
Explore Our Newsroom