Starwood European Real Estate Finan Quarterly Factsheet Publication (3649R)
24 Octobre 2013 - 7:00PM
UK Regulatory
TIDMSWEF
RNS Number : 3649R
Starwood European Real Estate Finan
24 October 2013
24 October 2013
Starwood European Real Estate Finance Limited: Quarterly
Factsheet Publication
Starwood European Real Estate Finance Limited (the "Company")
announces that the factsheet for the third quarter ended on 30
September 2013 is available at:
www.starwoodeuropeanfinance.com
The Investment Adviser's Commentary contained in the factsheet
provides updated guidance on the Company's investment pipeline and
dividend policy. Extracted text of such commentary is set out
below:
"In the June factsheet the Company reported that it had six
loans in the immediate investment pipeline with approximately
GBP130 million of investment potential.
The Company has either closed or committed to four of these
transactions with a value of GBP87.1 million and is now 49.3 per
cent. invested or committed.
We are currently in the final stages of execution of one loan
which will account for a further 17 per cent. investment. We hope
to make an announcement in the next seven to ten days and fund
during November. If this loan closes the Company would be 66.3 per
cent. invested.
After the loan currently in the final stages of execution has
completed, the Company should be substantially fully invested on
the basis of completing two to three more transactions. Whilst the
Company remains committed to achieving the original target of
substantial full investment within 12 months, given the execution
difficulties which have been encountered in a number of cases to
date, as well as the desire to maintain portfolio diversity and
investment quality, we feel it prudent to caution that there is a
risk that some part of that deployment may occur in the first
months of next year.
For the period to 31 December 2013, the Company now expects to
be able to pay a dividend of up to 1.9 pence based on the six deals
that have been closed or committed to date and the deal that is
currently in the final stages of execution. In the event that
further transactions close prior to the year end, the total
dividend could be higher. Further updates in this regard will be
provided in due course.
The Company is today declaring a first interim dividend of 0.80
pence per ordinary share for the period ending 30 September
2013.
Based on detailed projections, the Company remains comfortable
that when fully invested it will be able to meet its dividend
target of 7.0 pence per annum"
For further information, please contact:
Gary Gould / Stuart Klein
Jefferies International Limited
T: +44 20 7029 8000
Ravi Anand / Robert Peel
Dexion Capital plc
T: +44 20 7832 0900
Ipes (Guernsey) Limited
John Ellman-Brown
T: +44 1481 713843
Notes:
Starwood European Real Estate Finance 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
Continental European markets. www.starwoodeuropeanfinance.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
DOCEAKELALADFFF
Starwood European Real E... (LSE:SWEF)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Starwood European Real E... (LSE:SWEF)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024