Starwood European Real Estate Finance Ltd (SWEF)
16 September 2022
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Starwood European Real Estate Finance Limited
New £46.2m Floating Rate Investment
Multi-let industrial estate, Loughborough.
Starwood European Real Estate Finance ("the Group"), a leading investor originating, executing and managing a diverse portfolio of high-quality real estate debt in the UK and Europe, is pleased to announce that in September 2022 the Group funded the initial advance of a £46.2 million floating rate whole loan secured by an industrial estate in Loughborough, UK. The financing has been provided in the form of an initial advance to assist the acquisition of the asset along with a smaller capex facility to support the borrower's value-enhancing capex initiatives.
The asset is a multi-let industrial estate currently consisting of 802k sq ft across 11 buildings across 53 acres with a strong income base. It is located in Loughborough within the Golden Triangle for logistics providing strong transport links within the UK.
Following this investment, the Group has approximately £27.6 million drawn on its credit facilities net of cash held.
John Whittle, Non-executive Chairman, said:
"We are delighted to acquire this highly attractive loan with its exposure to highly sought-after assets in the East Midlands in the rapidly growing UK industrial and logistics market. Exceptional risk adjusted secured debt opportunities such as these support our policy of delivering a robust quarterly dividend to shareholders, currently equating to an annualised dividend yield of 5.80% based on the closing share price on 15 September 2022.
“Given the majority floating rate component of the portfolio, the Group is exceptionally well positioned to deliver strong returns in the current rising rate environment. Our pipeline of further potential investment opportunities remains strong in a compelling market for our strategy."
For further information, please contact:
Apex Fund and Corporate Services (Guernsey) Limited as Company Secretary
+44 (0)203 5303 630
Duke Le Prevost
Starwood Capital +44 (0) 20 7016 3655
Jefferies International Limited +44 (0) 20 7029 8000
Gaudi Le Roux
Buchanan +44 (0) 20 7466 5000
Helen Tarbet +44 (0) 07788 528143
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.
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