Starwood European Real Estate Finan Investment Update (2417A)
June 06 2016 - 1:00AM
UK Regulatory
TIDMSWEF
RNS Number : 2417A
Starwood European Real Estate Finan
06 June 2016
6 June 2016
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")
announces that it has, together with other Starwood affiliates,
committed to a GBP75 million whole loan in relation to three mixed
use development projects in the south east of England. In total the
Company will fund a GBP15m participation in the whole loan with an
initial drawdown of GBP6.5 million. The borrower's aim is to
deliver strong mixed use schemes in the centre of high growth
commuter locations providing PRS, private residential for sale,
retail, office, hotel and serviced apartments.These markets are
demonstrating consistent, moderate growth in the context of long
term structural shortages of much needed new real estate supply. A
large element of the schemes have already been presold to
institutional investors leading the Company to have a very low debt
basis exposure.
The floating rate facility has a term of 3 years with a single
extension option of 1 year and the Company expects to earn an
attractive risk-adjusted return in line with its stated investment
strategy.
The Company also announces that the Lifecare Residences, London
loan started to repay during late April and May as a result of the
staged closing of apartment sales and that full and final repayment
on the loan was received on 2 June 2016.
The initial drawing on the new loan has been funded from cash
and the Company remains substantially fully invested.
For further information, please contact:
For further information, please contact:
Peter Denton - Starwood Capital - 020 7016 3664
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.
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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