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Company Announcements

Investment Update

RNS Number : 3719Y
Starwood European Real Estate Finan
16 May 2016
 

16 May 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 arranged £158.1 million loan facilities for certain affiliated companies of Värde Partners (the "Loan Facilities") to refinance a portfolio of 141 retail, office and industrial assets located throughout the UK (the "Portfolio"). With 393 tenants the Portfolio reflects very strong diversification in terms of tenant,

 

The Loan Facilities were advanced on 16 May 2016 and are floating with an initial term of 3 years. The Company has worked closely with a major investment bank which has provided the borrower with a £123 million senior loan facility, leaving the Company to advance a £35.1 million mezzanine facility on which it expects to earn an attractive risk-adjusted return in line with its stated investment strategy.

 

Following this new investment, the Company's portfolio maturity profile is as shown below:

 

Remaining years to contractual maturity*

Value of loans

£m

% of invested portfolio

0 to 1 years

£28.5m

9.7%

1 to 2 years

£51.0m

17.3%

2 to 3 years

£103.0m

35.0%

3 to 5 years

£86.8m

29.5%

5 to 10 years

£25.0m

8.5%

 

*excludes any permited extensions.  Note that borrowers may elect to repay loans before contractual maturity.

 

Notes:

www.starwoodeuropeanfinance.com

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
 
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