Greystar expanded its business in the long-term rental apartment market in China. The company borrowed approximately RMB 1 billion from two syndicates consisting of the Bank of Communications, Pudong Bank, Bank of China, China Construction Bank, Industrial Bank and other banks for its “Live in LIV’N 833” and Xingya Plaza projects.
As a global leader in the field of long-term apartment rental investments and operations, Greystar has long advocated sustainable development. Its brands and projects create healthy and aesthetically pleasing living communities alongside the principles of sustainable development. Greystar entered China in 2017 with its first high-end long-term rental apartment project, “Live in LIV’N 833”. In 2021 Greystar created more local landmark developments, bringing valuable long-term growth to urban areas and the surrounding communities.
A housing system encouraging both rentals and purchasing was re-emphasized in the 20th National Congress Report and the development of China’s housing system will grow rapidly in the next five years. Based on the strong national policy and its insight into the housing market, Greystar will continue its long-term investment principles of expansion in the Chinese market and will keep an eye on housing rental demand in China.
JunHe was the Chinese legal counsel of Greystar in both these projects. JunHe advised Greystar on the syndicates’ terms regarding the approval of the granting of facilities and the financing guarantee structure and assisted Greystar with the negotiation and finalization of the financing documents and the preparation of the financing conditions. Based on JunHe’s long-term experience in the real estate sector and its experience in serving various domestic and foreign funds, the financing was completed successfully.
The project was led by partner LU, Juyi