Starwood European lends against UK property portfolio

Starwood European Real Estate Finance Limited announced on 16 May that it has arranged GBP158.1 million loan facilities for certain affiliated companies of Värde Partners to refinance a portfolio of 141 retail, office and industrial assets located throughout the UK. With 393 tenants the Portfolio reflects very strong diversification in terms of tenant, geography and sector.

The Loan Facilities were advanced on 16 May 2016 and are floating with an initial term of 3 years. The Company has worked closely with a major investment bank which has provided the borrower with a GBP123 million senior loan facility, leaving the Company to advance a GBP35.1 million mezzanine facility on which it expects to earn an attractive risk-adjusted return in line with its stated investment strategy. The new investment has been funded with available cash and the Company remains substantially fully invested.

SWEF : Starwood European lends against UK property portfolio