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Starwood lends against Dublin apartments

Starwood European Real Estate Finance has announced that on 10 March 2016 it advanced a EUR7.9 million whole loan relating to the acquisition of 44 apartments in South Dublin, the Republic of Ireland. The sponsor is a highly regarded local investor that is an existing borrower of the Company. The transaction represents the Company’s third loan in the last 8 months secured by rented residential units in Ireland, an attractive asset class due to its consistent demand, stable income profile, and Ireland’s growing economy.

The floating rate facility has a term of 4 years and the Company expects to earn an attractive risk-adjusted return in line with its stated investment strategy.

The new investment has been funded with drawings on the revolving credit facility. It remains the Company’s intention to continue to the draw on the facility in the near term to optimise liquidity management of potential loan repayments and, once addressed, future equity issuance.

SWEF : Starwood lends against Dublin apartments

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