Starwood European Real Estate Finance has received full repayment of the Dutch Industrial Portfolio and Danish Industrial Portfolio loans as a result of the sale of both portfolios, representing a total of approximately GBP51.5 million sterling equivalent proceeds.
A number of loans in the Group’s portfolio benefit from prepayment protection in their early years, providing the Group with a level of income protection should such loans repay whilst in that protected period. The Danish loan was originated in June 2015 and benefits from such provisions, meaning that the Group will bear no effective drag on the repayment of this loan for a further few months.
As reported in the December factsheet, the Investment Adviser is in advanced discussions on a number of opportunities. Heads of terms have been signed on two loans which have now moved into execution. These opportunities remain subject to final due diligence and documentation and, if they proceed, will allow the Group to deploy a substantial part of the available cash.
SWEF : Starwood European says two loans repaid