3 December 2019

 

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 on 29th November 2019, the Group closed an investment in a 5-year floating rate loan secured by a portfolio of office assets Spain, with Starwood Property Trust, Inc (through a wholly owned subsidiary) participating in 50 per cent of the mezzanine loan amount, providing the Group with a net commitment of €24 million.  The financing has been provided in the form of an initial advance along with a capex facility to support the sponsors' business plan to make further investment in the properties.  The properties are well-located within the decentralised submarkets of Madrid and Barcelona. The assets are positioned to benefit from the sponsors' active asset management strategy.  The Group expects to earn an attractive risk-adjusted return in line with its stated investment strategy.

 

Spain is one of the Group's target markets for further lending and the Group continues to seek good risk-adjusted lending opportunities arising in line with the Group's investment policy. Overall the Group's pipeline is diversified and remains strong.

 

Following these transactions, the Group has net debt of approximately £50 million. The Group has unfunded commitments to borrowers of approximately £84 million.

 

 

For further information, please contact:

Apex Fund and Corporate Services (Guernsey) Limited as Company Secretary - 01481 735879

Dave Taylor

 

Starwood Capital - 020 7016 3655

Duncan MacPherson

 

Stifel Nicolaus Europe Limited - 020 7710 7600

Mark Bloomfield

Maarten Freeriks

Mark Young

 

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.