Starwood European Real Estate Finan Investment Update (3719Y)
16 Mai 2016 - 3:25PM
UK Regulatory
TIDMSWEF
RNS Number : 3719Y
Starwood European Real Estate Finan
16 May 2016
16 May 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 it has arranged GBP158.1 million loan facilities for
certain affiliated companies of Värde Partners (the "Loan
Facilities") to refinance a portfolio of 141 retail, office and
industrial assets located throughout the UK (the "Portfolio"). With
393 tenants the Portfolio reflects very strong diversification in
terms of tenant, geography and sector.
The Loan Facilities were advanced on 16 May 2016 and are
floating with an initial term of 3 years. The Company has worked
closely with a major investment bank which has provided the
borrower with a GBP123 million senior loan facility, leaving the
Company to advance a GBP35.1 million mezzanine facility on which it
expects to earn an attractive risk-adjusted return in line with its
stated investment strategy. The new investment has been funded with
available cash and the Company remains substantially fully
invested.
Following this new investment, the Company's portfolio maturity
profile is as shown below:
Remaining years Value of % of invested
to contractual loans portfolio
maturity* GBPm
----------------- ----------- --------------
0 to 1 years GBP28.5m 9.7%
----------------- ----------- --------------
1 to 2 years GBP51.0m 17.3%
----------------- ----------- --------------
2 to 3 years GBP103.0m 35.0%
----------------- ----------- --------------
3 to 5 years GBP86.8m 29.5%
----------------- ----------- --------------
5 to 10 years GBP25.0m 8.5%
----------------- ----------- --------------
*excludes any permited extensions. Note that borrowers may elect
to repay loans before contractual maturity.
For further information, please contact:
Peter Denton - Starwood Capital - 020 7016 3664
Robert Peel - Fidante 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
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