17 September 2013
Starwood European Real Estate Finance Limited: Investment Update
Starwood European Real Estate Finance Limited (the "Company") announces that, together with Starwood Property Trust, Inc (NYSE: STWD), it has provided a €95m medium term facility (the "Facility") to an entity sponsored by Tristan Capital Partners and AEW Europe. The Facility will refinance 225 retail hypermarket and convenience stores located in Finland (the "Portfolio"). The Company has invested €45m in the Facility which has a low-60% loan to value. The Company expects to earn a solid single digit return in line with its investment criteria. The Portfolio will be divested over the coming years with reasonably rapid loan repayment expected.
This investment was one of the six transactions referred to as in the immediate investment pipeline in the June factsheet released on 2 August 2013. The Company has now made or committed to four investments, for a total value of £79.7 million, representing 33.9% of net assets.
For further information, please contact:
Ipes (Guernsey) Limited
John Ellman-Brown
T: +44 1481 713843
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
About Starwood Property Trust, Inc.
Starwood Property Trust, Inc. is focused on originating, investing in, financing and managing commercial mortgage loans and other commercial real estate debt investments, commercial mortgage-backed securities ("CMBS"), and other commercial real estate-related debt investments. The Company, through its 2013 acquisition of LNR Property LLC ("LNR"), now also operates as special servicer in the United States and a primary and special servicer in Europe and has expanded its product offering to include fixed rate conduit loans. Starwood Property Trust, Inc. also invests in residential mortgage-backed securities ("RMBS") and residential real estate owned, and may invest in non-performing loans, commercial properties subject to net leases and residential mortgage loans. The Company is externally managed and advised by SPT Management, LLC, an affiliate of Starwood Capital Group, and has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.