Starwood European Real Estate Finan Investment Update (1936W)
25 Avril 2016 - 10:20AM
UK Regulatory
TIDMSWEF
RNS Number : 1936W
Starwood European Real Estate Finan
25 April 2016
25 April 2016
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR IN, INTO OR FROM
THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN, NEW
ZEALAND OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION
Starwood European Real Estate Finance Limited: Investment
Update
Starwood European Real Estate Finance Limited (the "Company")
announces that on 22 April 2016 it received full repayment of GBP42
million in relation to the Aldgate Tower, London loan as a result
of the sale of the property.
During April, the Company has also received full repayment of
GBP10.8 million in relation to the Salesforce Tower, London
loan.
The Company constantly seeks to minimise cash drag and often
manages repayment events by tactically using the GBP60 million
revolving credit facility available to it. The proceeds of these
repayments will be used to repay GBP41.7 million of current
drawings on the revolving credit facility.
A number of loans in the portfolio benefit from prepayment
protection in their early years providing a level of income
protection should the loan repay whilst in that protected period.
The Aldgate Tower loan was originated in December 2014 and benefits
from such provisions allowing no effective drag on these monies for
a further few months in which time the Company will seek to
reinvest such cash thereby mitigating cash drag on this sum.
The Company expects additional loan repayments in the coming
months and will also focus on reinvestment of any such expected
proceeds prior to any consideration of further equity issuance.
For further information, please contact:
For further information, please contact:
Peter Denton - Starwood Capital - 020 7016 3664
Robert Peel - Dexion Capital - 020 7832 0900
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.
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCVELBLQZFFBBD
(END) Dow Jones Newswires
April 25, 2016 04:20 ET (08:20 GMT)
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