Starwood European looks to raise £40m – Starwood European Real Estate Finance (SWEF) has announced a new ordinary share placing with a target raise of £40m at a price of 104.8 pence per placing share.
SWEF’s shares have closed most of the discount to NAV that came about in late 2018 on the back of the sell-off in risky assets around the world.
The company went on to discuss some of its new loan origination activity in its annual results announcement earlier this year. Click here to read more on this story.
About SWEF
SWEF originates, executes and services a diversified portfolio of commercial real estate debt investments in liquid markets (office, retail, logistics, light industrial, hospitality and residential) in the UK and Continental Europe.
A snapshot of the company’s portfolio at 31/03/19 is shown below:
| Sterling equivalent balance | Sterling equivalent unfunded commitment | |
| Hospitals, UK | £25.0m | – |
| Mixed use development, South East UK | £14.0m | £1.4m |
| Regional Hotel Portfolio, UK | £45.9m | – |
| Credit Linked Notes, UK real estate | £21.8m | – |
| Hotel & Residential, UK | £39.9m | – |
| Total Sterling Loans | £146.6m | £1.4m |
| Logistics, Dublin, Ireland | £12.5m | – |
| Hotel, Barcelona, Spain | £39.5m | – |
| School, Dublin, Ireland | £16.2m | – |
| Industrial Portfolio, Central and Eastern Europe | £42.7m | – |
| Three Shopping Centres, Spain | £30.8m | £7.5m |
| Shopping Centre, Spain | £14.6m | – |
| Hotel, Dublin, Ireland | £51.5m | – |
| Residential, Dublin, Ireland | £7.7m | – |
| Office, Paris, France | £13.7m | – |
| Hotel, Spain | £15.9m | £21.8m |
| Office & Hotel, Madrid | £24.7m | £0.9m |
| Total Euro Loans | £269.8m | £30.2m |
| Total Portfolio | £416.4m | £31.6m |
SWEF: Starwood European looks to raise £40m