Quarterly Factsheet Publication

RNS Number : 7379Y

Starwood European Real Estate Finan

29 January 2014

 



29 January 2014

Starwood European Real Estate Finance Limited: Quarterly Factsheet Publication

Starwood European Real Estate Finance Limited (the "Company") announces that the factsheet for the fourth quarter ended on 31 December 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:

"The Company in previous factsheets identified six specific loans with at least £130 million of investment potential.  Five of these were closed in 2013 for an aggregate value of £127.4 million (the value of some loans closed to date has increased from the value included in the original £130 million pipeline communicated).

The remaining loan, for €14.3 million, has been in execution for an extremely long time but has been delayed due to particular issues relating to the property's seller.  We are cautiously optimistic that this will now close and fund in the coming weeks.  This loan would account for a further 5 per cent. investment, taking the Company to 71 per cent. invested or committed (prior to the scheduled amortisation of some of the existing loans due to take place during January).

The Company is aiming to be substantially fully invested on the basis of completing two to three additional transactions as soon as practicable within the second quarter of 2014.

At launch, the Company had targeted a dividend of 3.5 pence per Ordinary Share in respect of the period from Admission (17 December 2012) to the first financial year end (31 December 2013) and 7.0 pence per Ordinary Share in subsequent financial periods.  This was predicated on the assumption that 50% of the Company's available cash would be invested within six months from Admission and the remainder within 12 months.

For the financial year ending 31 December 2013, the Company will pay a total dividend of 1.9 pence.

The Company paid an interim dividend of 0.8 pence per share for the period ending 30 September 2013 and is accordingly today declaring a dividend of 1.1 pence per ordinary share for the period ending 31 December 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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