26 February 2015

Starwood European Real Estate Finance Limited

(the "Company") (Ticker: "SWEF")

Net Asset Value, 31 January 2015

As at the close of business on 31 January 2015, the unaudited net asset value of the Company's Ordinary Shares was  99.09p. Further to an announcement released on 27 January 2015, please note this NAV has been calculated on an ex-dividend basis

Capital amounts advanced as at 31 January 2015 and amounts committed but undrawn as at 31 January 2015 is shown below.

* Euro amounts drawn and commitments converted at the month end spot rate.  The difference between amounts drawn in the table above and "Loans advanced" in the first table is accrued income.

Enquiries:

Ipes (Guernsey) Limited

Gillian Newton

T: +44 1481 713869       

E: Gillian.Newton@ipes.com