7 October 2013
Starwood European Real Estate Finance Limited
Investment Update
Starwood European Real Estate Finance Limited (the "Company") announces that it has provided an £18 million participation in a £288 million 5 year refinancing facility (the "Facility") for the Heron Tower, a single office property located in the EC2 district of the City of London (the "Asset"). The remainder of the Facility has been provided by Starwood Property Trust, Inc. The Company expects to earn a solid single digit return in line with its investment criteria. The Company has now made or committed to five investments, for a total value of £97.7 million, representing 41.5% of net assets.
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, of which three transactions have now been closed. The remaining three investments all remain in execution and the Company expects to make further announcements in the coming few weeks, at which point the Company expects to be between 65% and 68% invested or committed. Further information on the investment pipeline and dividend outlook will be provided in the September fact sheet due to be published later in October.
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.