ICG Real Estate provides £63m loan for retirement scheme in Henley-on-Thames

“ICGRE is very pleased to be supporting Octopus Real Estate, Elysian Residences and PIC with the creation of this high-quality retirement scheme. We continue to see Living as a high-conviction sector, with Henley-on-Thames our first deal in the retirement space."

ICG Real Estate (“ICGRE”), the real estate division of global alternative asset manager, ICG, has provided a £63m loan to a joint venture vehicle established between Elysian Residences and Senior Living Investment Partners (“SLIP”) to fund a new retirement scheme.

SLIP is the partnership between Pension Insurance Corporation plc (“PIC”), a specialist insurer of defined benefit pension schemes, and real estate lender and investor, Octopus Real Estate.

This facility will fund the acquisition and development of a new 100-unit luxury Integrated Retirement Community (“IRC”) in Henley-on-Thames, Oxfordshire, a town renowned for its scenic beauty, vibrant community, and the world-famous annual Henley Royal Regatta.

The development will feature a mix of one-bedroom, two-bedroom, and three-bedroom homes together with a wide range of amenities designed to enhance the quality of life for its future residents. These will include a café and bistro, gym, swimming pool, wellness and relaxation areas, a curated library, and residents’ lounges. The community is designed around communal spaces and centralised facilities, promoting a strong sense of community and well-being among residents.

The loan facility follows the recent announcement of capital invested in the same scheme by SLIP and Elysian and marks the first transaction between ICGRE and Octopus Real Estate.

Isobel Dench, Managing Director at ICG Real Estate, commented:

ICGRE is very pleased to be supporting Octopus Real Estate, Elysian Residences and PIC with the creation of this high-quality retirement scheme. We continue to see Living as a high-conviction sector, with Henley-on-Thames our first deal in the retirement space. The retirement market has compelling demographics supporting it, which is expected to encourage future demand. We see this development as a great opportunity to enter the market alongside experienced sponsorship, in a prime location with strong micro fundamentals.

Kevin Beirne, Head of Retirement, Octopus Real Estate, added:

At Octopus Real Estate, we are committed to investing in projects that enhance the quality of life for residents and foster thriving communities. This development aligns perfectly with our mission to invest in the people, ideas, and industries that will change the world. By providing high-quality housing and amenities, we aim to empower individuals to live better for longer, reflecting our dedication to creating positive social impact through sustainable and thoughtful real estate investment. ICG’s involvement is incredibly exciting for the later living sector; to have such a top-tier capital partner supporting the delivery of much-needed retirement living options further bolsters the sector and demonstrates the importance of IRCs to the wider UK real estate landscape.

Gavin Stein, CEO, Elysian Residences, concluded:

The demand for retirement communities continues at pace across the country. Octopus Real Estate, PIC and ICG have all recognised the opportunity in this market, and it’s great to be able to work together to meet the high demand in this location in particular.

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For further information please contact:

ICG

Clare Glynn
+44 20 3545 1395
[email protected]

About ICG

ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with a 35-year history, managing $107bn of assets* and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.

We develop long-term relationships with our business partners to deliver value for shareholders, clients, and employees, and use our position of influence to benefit the environment and society. We are committed to being a net zero asset manager across our operations and relevant investments by 2040.

ICG is a member of the FTSE 100 and listed on the London Stock Exchange (ticker symbol: ICG). Further details are available at www.icgam.com. You can follow ICG on LinkedIn and Instagram.

*Past performance is not a reliable indicator of future results; as at 31 December 2024.