SWEF : Investment Update

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

 
 
 Starwood European Real Estate Finance Ltd (SWEF) 
SWEF : Investment Update 
 
26-Feb-2018 / 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. 
 
                                                            26 February 2018 
 
 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 the Group 
                                     has committed to three new investments. 
 
The Group closed two loans in Ireland against two separate projects with the 
same sponsor: 
 
i) a EUR60,000,000 floating rate whole loan to finance the acquisition of a 
764 key hotel, 27 apart-hotel units and ancillary development lands in 
Dublin, Ireland. The financing has been provided in the form of a single 
advance for a term of 4 years with a 1-year extension option; and 
 
ii) a EUR9,000,000 floating rate whole loan to finance the conversion of 84 
apart-hotel units to residential use on an adjacent site also in Dublin, 
Ireland. The financing has been provided in the form of an initial advance 
along with a capex facility to fund the refurbishment works for a period of 
18 months with a 6-month extension option. 
 
Ireland remains one of the Group's target markets for further opportunities 
arising in line with the Group's investment policy. 
 
      The Group has also closed a EUR17,000,000 floating rate mezzanine loan 
       secured by a shopping centre in Spain. The property is well anchored, 
     dominates its catchment and is positioned to benefit from the sponsors' 
    active asset management strategy. The financing has been provided in the 
    form of an initial advance along with a capex facility implement further 
value enhancing initiatives. The Group's loan complements an existing senior 
         facility provided by Spanish banks, a structure that the Group sees 
potential to replicate further in Spain. The loan term is 30-months with two 
                                                   1-year extension options. 
 
  In the last 12 months, the Group has originated three Spanish loans with a 
 total commitment of EUR108 million. The pipeline for further investments in 
    Spain is active, and Spain remains one of the Group's target markets for 
   further opportunities arising in line with the Group's investment policy. 
 
The Group expects to earn an attractive risk-adjusted return in line with 
its stated investment strategy on the three new investments. 
 
The Group has also received full repayment of the Centrepoint, London loan 
following completion of the borrower's business plan. 
 
 Following this investment activity the Group has EUR49 million drawn on its 
                                                  revolving credit facility. 
 
                                    For further information, please contact: 
 
                        Duncan MacPherson - Starwood Capital - 020 7016 3655 
 
                                                                      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: PFU 
TIDM:          SWEF 
LEI Code:      5493004YMVUQ9Z7JGZ50 
Sequence No.:  5237 
 
End of Announcement EQS News Service 
 
657315 26-Feb-2018 
 
 
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=becc5c83790358f02808a7970e9d8d13&application_id=657315&site_id=vwd_london&application_name=news

(END) Dow Jones Newswires

February 26, 2018 02:05 ET (07:05 GMT)

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