Starwood European Real Estate Finance Ltd (SWEF)
SWEF: Investment Update
14-May-2019 / 07:00 GMT/BST
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The issuer is solely responsible for the content of this announcement.
14 May 2019
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Starwood European Real Estate Finance Limited: Investment Activity
Starwood European Real Estate Finance Limited (the "Company" and, together
with its subsidiaries, the "Group") is pleased to announce that on 10 May
2019 the Group committed to participate in the funding of a EUR104 million
mezzanine loan secured by a diversified portfolio of assets located in the
Netherlands, Germany and Finland. Starwood Property Trust, Inc (through a
wholly owned subsidiary) is participating in 50 per cent of the mezzanine
loan amount, with the Group funding the balance, amounting to a net
commitment of EUR52 million. The portfolio is comprised of 165 assets and
provides strong diversification in terms of tenant base, location and asset
class. The loan term is 3 years with two 1 year extension options, and the
Group expects to earn an attractive risk-adjusted return in line with its
stated investment strategy.
On 8 May 2019 the Group received full repayment of EUR18.85 million on the
loan to an Irish School following completion of the borrower's business
plan. The Group has used the proceeds of this repayment, available cash and
has made further drawings on its revolving credit facility to fund the new
loan and expects to use the proceeds of the recently-announced tap issue of
new equity to partially repay its revolving credit facilities in the coming
days.
The Group continues to see strong opportunities to deploy capital in the
target markets. The origination pipeline is healthy with a number of
transactions under review, which present solid risk adjusted returns.
For further information, please contact:
Apex Fund and Corporate Services (Guernsey) Limited - 01481 735879
Dave Taylor
Starwood Capital - 020 7016 3655
Duncan MacPherson
Stifel Nicolaus Europe Limited - 020 7710 7600
Neil Winward
Mark Bloomfield
Gaudi Le Roux
Notes:
Starwood European Real Estate Finance Limited is an investment company
listed on the main market of the London Stock Exchange with an investment
objective to provide Shareholders with regular dividends and an attractive
total return while limiting downside risk, through the origination,
execution, acquisition and servicing of a diversified portfolio of real
estate debt investments in the UK and the wider European Union's internal
market. www.starwoodeuropeanfinance.com [1].
The Group is the largest London-listed vehicle to provide investors with
pure play exposure to real estate lending.
The Group's assets are managed by Starwood European Finance Partners
Limited, an indirect wholly-owned subsidiary of the Starwood Capital Group.
ISIN: GG00B79WC100
Category Code: MSCM
TIDM: SWEF
LEI Code: 5493004YMVUQ9Z7JGZ50
Sequence No.: 8606
EQS News ID: 810537
End of Announcement EQS News Service
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(END) Dow Jones Newswires
May 14, 2019 02:01 ET (06:01 GMT)
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