Starwood European Real Estate Finance Ltd: Investment Activity March 2017

Dow Jones received a payment from EQS/DGAP to publish this press release.

 
 
 Starwood European Real Estate Finance Ltd (SWEF) 
Starwood European Real Estate Finance Ltd: Investment Activity March 2017 
 
03-Apr-2017 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
*3 April 2017* 
 
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' and, together 
with its subsidiaries, the 'Group') is pleased to announce that it has 
committed to three new loans for a total of EUR133.35 million. 
 
*Irish School, Dublin:* On 31 March 2017 the Group advanced an EUR18.85 
million 3 year floating rate whole loan to support the acquisition and 
repositioning of a South Dublin office building in the Republic of Ireland. 
The building will be converted for educational use with a new lease to a 
premium global education company. The sponsor, Barry O'Callaghan, is a 
highly regarded local investor with deep experience in the education sector. 
The transaction represents a continuation of the Company's lending strategy 
in Ireland, and adds to the diversity of its portfolio with its first loan 
backed by an educational use. 
 
*Hotel, Barcelona:* On 31 March 2017 the Group advanced a EUR46.0 million 4 
year floating rate whole loan relating for the acquisition of a 4-star, 
240-key hotel in central Barcelona's 22@ district. The borrower is a 
partnership between institutional-quality investors with track records of 
successful hotel acquisitions throughout Europe. The hotel is 
well-positioned to benefit from the sponsors' active asset management 
strategy in a Barcelona market with appealing hospitality performance 
metrics and high barriers to entry. The transaction represents the Group's 
entry to the Spanish market, a large market opportunity with attractive real 
estate fundamentals and macroeconomic growth trends. 
 
*Industrial Portfolio, Central and Eastern Europe:* On 30 March 2017 the 
Group committed to provide a EUR68.5 million whole loan relating to the 
acquisition of a portfolio of industrial assets located across Central and 
Eastern Europe. The three year floating rate loan represents the opportunity 
to further diversify geographically and support a strong sponsor with a 
proven track record. EUR26.5 million of the loan was funded on 30 March 2017 
with the remaining commitment expected to be funded in the coming weeks. 
 
The Group has also extended the revolving credit facility from the existing 
maturity of 31 March 2017 to 31 March 2018 for an amount of GBP50 million. As 
part of the terms of the new facility there is an uncommitted 'Accordion' 
feature which would allow the Group to increase the facilities in size up to 
GBP100 million by bringing additional lenders into the facility. 
 
In the context of the first quarter of any year normally being particularly 
quiet this level of investment activity is a strong performance for the 
Group and has also enabled the Group to quickly re-invest the proceeds from 
the two repayments also received in March. Once these commitments are fully 
funded the Group will be fully invested with approximately GBP20m drawn on the 
revolving credit facility. The Group has a number of other opportunities 
currently under review and remains optimistic that should these 
opportunities proceed, the Group would look to raise equity later this year. 
 
*For further information, please contact:* 
Duncan MacPherson - Starwood Capital - 020 7016 3655 
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 [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. 
 
Language:      English 
ISIN:          GG00B79WC100 
Category Code: PFU 
TIDM:          SWEF 
LEI Code:      5493004YMVUQ9Z7JGZ50 
Sequence No.:  4017 
 
End of Announcement EQS News Service 
 
560957 03-Apr-2017 
 
 
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=b14fd12a9d67a041cd95eabce5bcab5f&application_id=560957&site_id=vwd_london&application_name=news

(END) Dow Jones Newswires

April 03, 2017 02:01 ET (06:01 GMT)

Starwood European Real E... (LSE:SWEF)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024