Quarterly Factsheet Publication

RNS Number : 6135L

Starwood European Real Estate Finan

29 April 2015

 



29 April 2015

Starwood European Real Estate Finance Limited: Quarterly Factsheet Publication

Starwood European Real Estate Finance Limited (the "Company") announces that the factsheet for the first quarter ended on 31 March 2015 is available at:

www.starwoodeuropeanfinance.com

Extracted text of the commentary is set out below:

"The Company declared total dividends of 5.8 pence per Ordinary Share in relation to 2014.  The dividend declared on 27 January 2015 in relation to the final quarter of 2014 was 1.7 pence per Ordinary Share (annualised 6.8 pence).

On 27 April 2015 the directors declared a dividend of 1.75 pence per Ordinary Share (annualised 7.0 pence per Ordinary Share) in relation to the first quarter of 2015.

On the basis of the current portfolio, we would expect to be able to continue to pay dividends at broadly this level (depending on LIBOR movements and pace of unscheduled amortisation and the pace of drawdown of unfunded commitments).  However, it is important to recognise that some of the loans originated early in the life of the Company may repay over the coming year and as such the level of future dividend will depend upon the level of returns achieved on re-investment of the proceeds and the pace of such re-investment.

The investment environment for the Company has changed somewhat over the last two years and the Company has to date sourced attractive business consistent with risk/return metrics set out at IPO.  Going forward, should any material repayments be received, the Company has already stated that it will look to take account of shareholders' current views on the relative balance between risk, returns and scalability and this  may lead to a reduction in the target returns on new investments.

The directors place primary importance now on ensuring, as much as possible, that cash drag from any repayments does not materially impact the consistency of future dividends and it is intended that the liquidity facility will assist with this."

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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