Overview

ICBC provides a £30 million GBP loan to Henley for the acquisition of six student housing accommodation properties consisting of 1,519 units in Sheffield, Stoke, and Preston

Commitments (Constant USD, 2023)$41,126,698

Commitment Year•2017Country of Activity•United KingdomDirect Recipient Country of Incorporation•United KingdomSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 1, 2017

Start (actual): Mar 1, 2017

End (actual): Mar 1, 2017

Geospatial footprint

Map overview

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This loan supported the acquisition of 1,519 units of student housing in Sheffield, Stoke, and Preston. More detailed locational can be found at https://www.openstreetmap.org/relation/106956, https://www.openstreetmap.org/relation/163183, and https://www.openstreetmap.org/relation/148606

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

Henley (Henley Investment Management Ltd.)

Loan description

ICBC provides a £30 million GBP loan to Henley for the acquisition of six student housing accommodation properties consisting of 1,519 units in Sheffield, Stoke, and Preston

Interest type•Unknown

Narrative

Full Description

Project narrative

In June 2017, the Industrial and Commercial Bank of China (ICBC) entered into a £30 million GBP loan agreement with Henley — a private equity real estate investor — to support its acquisition of six student housing accommodation properties consisting of 1,519 units in Sheffield, Stoke, and Preston from Liberty Living. This loan had a loan-to-value (LTV) ratio of 60%. The purchase was completed in March 2017 for a consideration of £50 million GBP (€57.8 million EUR).