Quarterly Factsheet Publication

RNS Number : 3649R

Starwood European Real Estate Finan

24 October 2013

 



24 October 2013

Starwood European Real Estate Finance Limited: Quarterly Factsheet Publication

Starwood European Real Estate Finance Limited (the "Company") announces that the factsheet for the third quarter ended on 30 September 2013 is available at:

www.starwoodeuropeanfinance.com

The Investment Adviser's Commentary contained in the factsheet provides updated guidance on the Company's investment pipeline and dividend policy.  Extracted text of such commentary is set out below:

"In the June factsheet the Company reported that it had six loans in the immediate investment pipeline with approximately £130 million of investment potential. 

The Company has either closed or committed to four of these transactions with a value of £87.1 million and is now 49.3 per cent. invested or committed. 

We are currently in the final stages of execution of one loan which will account for a further 17 per cent. investment.  We hope to make an announcement in the next seven to ten days and fund during November.  If this loan closes the Company would be 66.3 per cent. invested.

After the loan currently in the final stages of execution has completed, the Company should be substantially fully invested on the basis of completing two to three more transactions.  Whilst the Company remains committed to achieving the original target of substantial full investment within 12 months, given the execution difficulties which have been encountered in a number of cases to date, as well as the desire to maintain portfolio diversity and investment quality, we feel it prudent to caution that there is a risk that some part of that deployment may occur in the first months of next year.

For the period to 31 December 2013, the Company now expects to be able to pay a dividend of up to 1.9 pence based on the six deals that have been closed or committed to date and the deal that is currently in the final stages of execution.   In the event that further transactions close prior to the year end, the total dividend could be higher. Further updates in this regard will be provided in due course.

The Company is today declaring a first interim dividend of 0.80 pence per ordinary share for the period ending 30 September 2013.

Based on detailed projections, the Company remains comfortable that when fully invested it will be able to meet its dividend target of 7.0 pence per annum"

For further information, please contact:

Gary Gould / Stuart Klein

Jefferies International Limited

T: [phone]

Ravi Anand / Robert Peel

Dexion Capital plc

T: [phone]

Ipes (Guernsey) Limited

John Ellman-Brown   

T: [phone]       

Notes:

Starwood European Real Estate Finance 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 Continental European markets. www.starwoodeuropeanfinance.com

 

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