Investment Update

RNS Number : 2120L
Starwood European Real Estate Finan
08 August 2013
 



8 August 2013

 

Starwood European Real Estate Finance Limited

 

Investment Update

 

Starwood European Real Estate Finance Limited (the "Company") announces that the Company has executed a facility agreement with a member of the Lifecare Residences group to fund £8.5m of a £16.75m mezzanine loan and £4.3m of a £40m senior loan together to finance the development of a prime London retirement village.  Lifecare Residences is a leading developer and operator of retirement care villages in both the United Kingdom and New Zealand.  The Company was the mezzanine loan arranger.  This investment has been undertaken on a mid-60% loan to gross development value and the Company will earn a blended double digit yield in line with its investment criteria. 

 

This investment was one of the two transactions referred to as imminent in the June factsheet released on 2 August 2013. The Company has now made or committed to three investments, for a total value of £41.9 million, representing 17.8% 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

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DOCQDLFBXVFLBBF
UK 100

Latest directors dealings