Starwood lends against student accommodation scheme

Starwood lends against student accommodation scheme – Starwood European Real Estate Finance Limited has committed to a EUR11.25 million whole loan facility to finance a 127 bed purpose built student development scheme in central Dublin. They say that the Dublin student market suffers from a severe structural undersupply of purpose built student accommodation, and the borrower’s aim is to deliver high quality schemes in strong locations across Ireland in order to address this shortage.

The initial facility advance was made on 8 February 2018, with remaining development costs for the scheme to be funded by the whole loan proceeds until expected practical completion in summer 2018. The facility has a term of two years, and the Group expects to earn a strong risk-adjusted return in line with its stated investment strategy.

About Starwood European Real Estate Finance

Starwood European Real Estate Finance (Ticker: SWEF) is a Guernsey domiciled closed-end investment company that will originate, execute and service 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. It is listed on the premium segment of the London Stock Exchange.

SWEF : Starwood lends against student accommodation scheme