28 June 2017
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 thatit has received full repayment of £9.5 million (notional) in relation to the Center Parcs bonds at a redemption price of 104.8%. The repayment premium is equivalent to approximately 8 months of make whole interest.
During June, the Company has also received full repayment of the Retail & Residential Portfolio, Ireland and has received amortisation of £2.3 million on the Industrial Portfolio, UK loan. Amortisation of £4.0 million was also received on the Industrial Portfolio, UK loan in May 2017 as the borrower sells properties in line with its business plan.
The Company constantly seeks to minimise cash drag and attempts to manage repayment events by tactically using the £50 million revolving credit facility available to it. The proceeds of these repayments has been used to repay £14.0 million of current drawings on the revolving credit facility, leaving £7.5 million currently drawn on the revolving credit facility.
For further information, please contact:
For further information, please contact:
Duncan MacPherson - Starwood Capital - 020 7016 3655
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.
