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SWEF: Portfolio Update

·3-min read

Starwood European Real Estate Finance Ltd (SWEF)
SWEF: Portfolio Update
16-Sep-2022 / 07:01 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

16 September 2022

 

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

 

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

Duncan MacPherson

 

Jefferies International Limited     +44 (0) 20 7029 8000

Stuart Klein

Neil Winward

Gaudi Le Roux

 

Buchanan      +44 (0) 20 7466 5000

Helen Tarbet       +44 (0) 07788 528143

Henry Wilson

George Cleary

       

 

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.


ISIN:

GG00B79WC100

Category Code:

PFU

TIDM:

SWEF

LEI Code:

5493004YMVUQ9Z7JGZ50

OAM Categories:

3.1. Additional regulated information required to be disclosed under the laws of a Member State

Sequence No.:

188500

EQS News ID:

1443867


 

End of Announcement

EQS News Service

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