Backed by Rava Partners, the APAC flexible living leader secures its 10th Hong Kong location with a 26-storey, 98-room asset.
HONG KONG, June 2, 2026 /PRNewswire/ -- Dash Living, Asia Pacific's leading fully integrated living sector investment and operator platform backed by Rava Partners, the real assets strategy of Hillhouse Investment, has announced the acquisition of 39 Morrison Hill Road in Wan Chai, formerly operating as BeLiving Youth Hub.
The property is located a 3-minute walking distance from the iconic Hong Kong landmark, Times Square, seamlessly connecting guests to the popular tourist destinations and business hubs like the Hong Kong Convention and Exhibition Centre. The property will be converted into a hybrid hotel and serviced apartment under Dash Living's signature all-inclusive flexible living model, rebranded as Dash Living on Morrison.
At a purchase price of approximately HK$400 million, the asset was acquired at over 60% below pre-Covid asking price and is significantly below replacement cost.
Being Dash Living's 10th location under management in Hong Kong, Dash Living on Morrison increases the firm's assets under management to over US$500 million in the city.
"This acquisition reflects our strong momentum and deep conviction in the long-term growth of both Dash Living and the Hong Kong market," said Aaron Lee, CEO and Founder of Dash Living. "With the continued recovery of the real estate market and surge of tourism and overseas talents, we see tremendous opportunity to bring this type of irreplaceable location, once in a cycle investment to our capital partners."
"Dash Living continues to be the market leader in the Hong Kong living sector, with its proven track record of creating alpha with its technology-enabled operating platform," said Hillhouse partner and Rava co-head Joe Gagnon. "With the market showing clear sign of recovery, we are excited to continue supporting Dash's growth in the market with a core asset at an attractive basis".
Since Rava's investment in 2025, Dash has grown its AUM by 3 times to US$1.1 billion with over 2000 beds under management, expanding the footprint in Japan and Hong Kong SAR with the support of capital partners such as Greystar, BlackRock, Schroders, TE Capital Partners and many more.
About Dash Living
Dash Living is Asia Pacific's leading manager and operator of living sector assets, with an active portfolio spanning Hong Kong SAR, Singapore, and Japan. In 2025, Dash Living was acquired by Rava Partners, the real estate private equity arm of Hillhouse, further strengthening its growth trajectory and regional expansion strategy. With more than 2,000 rooms valued at US$1.1 billion+ under management, Dash Living delivers institutional-grade residential experiences through an integrated owner-operator-manager model, underpinned by technology and a commitment to regulatory compliance across all operating formats. The firm manages assets on behalf of internationally recognised real estate investment managers including BlackRock, Greystar, Schroders, PGIM Real Estate, and Hines, among others. For more information, visit www.dash.co
About Rava Partners
Rava Partners invests in real assets, partnering with quality business leaders to build the physical infrastructure that underpins Asia-Pacific's new economy. Rava Partners builds real asset platforms in growth sectors of Asia's economy such as education, logistics / industrial, life sciences / healthcare, multifamily accommodation, digital infrastructure and other specialized asset classes. Rava Partners is the real assets strategy established by Hillhouse together with Rava Partners senior management in 2020 as a complement to Hillhouse's broader private investment platform. Since its launch, Rava Partners has invested more than US$3 billion, on behalf of funds managed by Rava and Hillhouse, in more than 20 real estate companies across the Asia Pacific region. For more information, visit www.ravapartners.com
About Hillhouse
Founded in 2005 with initial funding from Yale University, Hillhouse Investment Management ("Hillhouse") is one of the world's largest global private alternative asset managers. The company invests on behalf of leading institutional clients around the world, including university endowments, foundations, and sovereign wealth funds across the Americas, Europe, Asia and the Middle East. Hillhouse's goal is to build a sustainable, forward-thinking company that creates lasting value for all stakeholders. Hillhouse offers a diverse range of investment strategies, including Buyout, Real Assets (Rava Partners), and Private Credit (Elham Credit). Starting from its first office in Singapore, Hillhouse today boasts an international team of over 450 professionals from more than 18 countries, with other offices in New York, Tokyo, London, Mumbai, Hong Kong, Amsterdam, Sydney, Abu Dhabi, Shanghai and Beijing. The company has a proven track record of completing sophisticated multi-billion-dollar transactions in more than 30 countries worldwide. For more information, visit www.hillhouseinvestment.com
source: Dash Living
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