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Starwood European lends against Danish property

Starwood European Real Estate Finance has committed to provide two facilities for a total of  DKK350.3m (about £33.5m) for a portfolio of light industrial assets throughout Denmark.  The first facility is a mezzanine facility to refinance a portfolio already owned by the sponsor.  The second facility is a whole loan to support the acquisition of a new portfolio. The facility has been partially drawn and is expected to fully draw during July.  Starwood says it expects to earn an attractive risk adjusted return commensurate with its stated investment strategy.

Funding for the deal came from a combination of cash available within the Company, including the proceeds of a repayment of the FC200 facility in mid June 2015, and £8m drawn on the revolving credit facility.

SWEF : Starwood European lends against Danish property

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