Quarterly Factsheet Publication

RNS Number : 7709V

Starwood European Real Estate Finan

31 October 2014

 



31 October 2014

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 2014 is available at:

www.starwoodeuropeanfinance.com

Extracted text of the commentary is set out below:

"In the June factsheet, the Company noted that £42 million of the loans closed to date would require syndication to enhance the returns on those loans and following the subsequent reinvestment to achieve net returns in excess of 7 per cent. 

On 15^th September, the Group completed the syndication of a £13.5 million senior note on FC200 to a UK clearer.

The Group is in documentation with a credit approved acquirer for the syndication of a further €35.9 million in respect of the Industrial Portfolio, Netherlands and expects to complete the syndication of the senior note before the end of 2014.

Following this syndication the Group is expected to have approximately £37 million cash available for investment after approximately £18 million of unfunded commitments on Lifecare, FC200 and W Hotel.

The key priority of the Group is to ensure that cash drag is minimised and that a stable current return is delivered to shareholders. The subsequent swift reinvestment of these syndication proceeds therefore is a key business focus for the Group.

On 24 October 2014 the Company declared a dividend for the period from 1 July 2014 to 30 September 2014 of 1.5 pence per Ordinary Share, being an increase to 6.0 pence per Ordinary Share on an annualised basis. 

Based on the current syndication plans and subsequent re-investment of those proceeds the Company remains comfortable that it will be able to pay an annualised 7.0 pence dividend upon completion of such syndication and reinvestment programme."

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

Gillian Newton

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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