SWEF: Portfolio update (1007403)

 
 Starwood European Real Estate Finance Ltd (SWEF) 
SWEF: Portfolio update 
 
30-March-2020 / 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. 
 
                                                               30 March 2020 
 
 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: Portfolio update 
 
  Starwood European Real Estate Finance Limited (the "Company" and, together 
       with its subsidiaries, the "Group") hereby announces the agreement of 
    commercial terms, and significant de-risking, of the largest hospitality 
                                             asset in its lending portfolio. 
 
      The Borrower of the Hotel, Dublin, Ireland, on which the Company has a 
 &euro60 million loan, has granted a licence to the Health Service Executive 
  ("HSE"), Ireland's public healthcare provider, which allows the HSE to use 
      the Hotel and Convention Centre for accommodation and the provision of 
   healthcare and other important services to the Irish public. This licence 
    will assist the HSE with delivering significant additional accommodation 
     capacity and in its efforts to manage the expected increased demand for 
accommodation related to the coronavirus outbreak. The contract is effective 
                                                                immediately. 
 
This hotel is the largest hospitality exposure in the portfolio, equating to 
  approximately 10 per cent of total invested assets at 31 December 2019 and 
approximately 32 per cent of the Group's hospitality exposure at 31 December 
           2019. The Group's portfolio consists of a mixture of hotels under 
   construction (which are therefore not expected to be income generating at 
    this time), as well as income generating assets. As at 31 December 2019, 
  approximately 73 per cent of the hospitality portfolio (by loan value) was 
considered income generating of which this asset equates to approximately 44 
 per cent (by loan value) of the income producing hospitality portfolio. The 
Group therefore considers that this contract has significantly de-risked the 
                                      hospitality exposure of the portfolio. 
 
                                    For further information, please contact: 
 
Apex Fund and Corporate Services (Guernsey) Limited as Company Secretary - 
01481 735878 
 
                                                                Vania Santos 
 
                                            Starwood Capital - 020 7016 3655 
 
                                                           Duncan MacPherson 
 
                              Stifel Nicolaus Europe Limited - 020 7710 7600 
 
                                                             Mark Bloomfield 
 
                                                                  Mark Young 
 
                                                                Nick Donovan 
 
                                                            Maarten Freeriks 
 
                                                                      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.:  55251 
EQS News ID:   1007403 
 
End of Announcement EQS News Service 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=820ab51c5dd44debecb8781312a1325e&application_id=1007403&site_id=vwd&application_name=news

(END) Dow Jones Newswires

March 30, 2020 02:00 ET (06:00 GMT)

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