Starwood European Real Estate Finance Ltd: Investment Update (761883)
27 Décembre 2018 - 8:01AM
UK Regulatory
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 Update
27-Dec-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.
27 December 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,
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WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
Starwood European Real Estate Finance Limited: Investment Activity
Starwood European Real Estate Finance Limited (the "Company" and, together
with its subsidiaries, the "Group") is pleased to announce that on 18th
December 2018 the Group committed to fund a GBP62.5 million fixed rate
mezzanine loan to support the development of a prime mixed-use scheme in
Central London with Starwood Property Trust, Inc (through a wholly owned
subsidiary), participating in 66 per cent of the loan amount, providing the
Company with a net commitment of GBP41.25 million. The loan term is 3 years
with a 1 year extension option, and the Group expects to earn an attractive
risk-adjusted return in line with its stated investment strategy. The loan
partially funded on 21 December 2018 with the remaining balance expected to
be funded in January 2019.
The Group has also received the following three repayments totalling
approximately GBP37 million:
At the end of November 2018, the Group received full repayment of the loan
advanced on the Residential Portfolio in Dublin as a result of a sale of the
portfolio.
On 20 December 2018, the Group received full repayment of the loan advanced
on the Industrial Portfolio in the UK as a result of a refinance of the
portfolio.
On 21 December 2018, the Group received full repayment of the loan advanced
on the Industrial asset in Paris as a result of the sale of the portfolio.
A number of loans in the portfolio benefit from prepayment protection
providing a level of income protection should the loan repay whilst in that
protected period. Two of the repaid loans benefit from such provisions.
Following full funding of the new investment and the above repayments, the
Group will have approximately GBP56 million drawings on its GBP114 million of
credit facilities net of cash.
The Group continues to see strong opportunities to deploy capital in the
target markets. The origination pipeline is healthy with a number of
transactions under review, which present solid risk adjusted returns.
For further information, please contact:
Ipes (Guernsey) Limited as Company Secretary - 01481 735879
Dave Taylor
Starwood Capital - 020 7016 3655
Duncan MacPherson
Stifel Nicolaus Europe Limited - 020 7710 7600
Neil Winward
Mark Bloomfield
Gaudi Le Roux
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.: 6995
EQS News ID: 761883
End of Announcement EQS News Service
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=becc5c83790358f02808a7970e9d8d13&application_id=761883&site_id=vwd_london&application_name=news
(END) Dow Jones Newswires
December 27, 2018 02:01 ET (07:01 GMT)
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