Overview
Starwood European Real Estate Finance 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.
Fundamentals
Price
Research History
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06 Apr 2023 82 min read
QuotedData’s Economic and Political Monthly Roundup April 2023
Economic and Political Monthly Roundup Investment companies | Monthly | April 2023 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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06 Oct 2022 111 min read
QuotedData’s Economic and Political Monthly Roundup October 2022
Economic and Political Monthly Roundup Investment companies | Monthly | October 2022 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to […]
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07 Apr 2020 5 min read
QuotedData’s Economic Roundup – April 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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07 Oct 2019 6 min read
QuotedData’s economic roundup – October 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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07 Jun 2019 3 min read
QuotedData’s investment companies roundup – June 2019
Investment Companies Roundup New research Over May, we published notes on Shires Income, Standard Life Private Equity and The North American Income Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was notable that risk appetite was down in May as renewed […]
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08 May 2019 3 min read
QuotedData’s investment companies roundup – May 2019
Investment Companies Roundup New research Over April, we published notes on Henderson Diversified Income, Ecofin Global Utilities and Infrastructure, Jupiter Emerging and Frontier Income, Seneca Global Income & Growth and Polar Capital Global Financials Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was […]
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05 Apr 2019 4 min read
QuotedData’s economic roundup – April 2019
Kindly sponsored by Polar Capital Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy […]
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12 Oct 2018 1 min read
QuotedData’s Economic round up – October 2018
QuotedData’s Economic round up – October 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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19 Oct 2017 1 min read
Quarterly investment companies roundup – Third quarter 2017
Quarterly investment companies roundup – Third quarter 2017 – Markets moved up a little over the course of the three months ended 30 September 2017. Regionally, emerging markets did well. The pound strengthened a bit relative to the US dollar but was flat against the euro. The oil price rose by more than 20%. In […]
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12 Oct 2017 1 min read
QuotedData’s economic round up – October 2017
QuotedData’s economic round up – October 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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14 Sep 2017 1 min read
QuotedData investment companies roundup – September 2017
QuotedData investment companies roundup – September 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2017. Kindly sponsored by Baillie Gifford. September Investment Companies Roundup Winners and losers in August Ashmore Global’s […]
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16 May 2017 2 min read
QuotedData investment companies roundup – May 2017
QuotedData investment companies roundup: Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2017. Kindly sponsored by Baillie Gifford. Money in: The only new launch in April was EJF Investments, a £69m fund trying to take advantage of […]
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10 Apr 2017 1 min read
QuotedData investment companies roundup – April 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. April Investment Companies Roundup
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27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
News
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20 Nov 2024 2 min read
QuotedData’s morning briefing 20 November 2024 – SWEF, HICL, BLND, GRIO, GRP
In QuotedData’s morning briefing 20 November 2024: Starwood European Real Estate Finance (SWEF) reports a drop in its NAV from 105.61p at end September to 99.38p at end October. Most of this fall relates to an impairment provision made against one asset, but it is not saying what this is. HICL Infrastructure (HICL), reporting six-month […]
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21 Oct 2024 2 min read
Starwood European Real Estate Finance’s Irish office portfolio impaired by 50%
Starwood European Real Estate Finance (SWEF) says that, following new operational updates from the sponsor of its “office portfolio, Ireland” loan, SWEF’s board has evaluated various business plan scenarios, and the uncertainty related to these scenarios, and, as a consequence of this new information, combined with the challenging local office market dynamics, SWEF’s board has […]
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09 Sep 2024 3 min read
QuotedData’s morning briefing 9 September 2024 – SWEF, GRID, PCTN, AGR
In QuotedData’s morning briefing 9 September 2024: Starwood European Real Estate Finance (SWEF) has published its interim results for the six months ended 30 June 2024. SWEF says that it has made positive realisation progress during the half year with a total of £102.1m, 38.9 per cent of the Group’s 31 December 2023 total funded […]
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20 Feb 2024 1 min read
QuotedData’s morning briefing 20 February 2024 – NBMI, SWEF, GCP, MPLF
In QuotedData’s morning briefing for 20 February 2024 NB Global Monthly Income Fund (NBMI) has announced that it intends to distribute to shareholders an aggregate amount of approximately £23m by way of a partial compulsory redemption of shares on 4 March 2024. The redemption will amount to c. 69% of existing shares of shareholders on […]
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07 Sep 2023 2 min read
QuotedData’s morning briefing 7 September 2023 – GRID, IEM, SWEF, SOHO, HOME
In QuotedData’s morning briefing 7 September 2023: Gresham House Energy Storage (GRID) reports a fall in its NAV and a -3.5% return for the six months ended 30 June 2023. Most of the negative impact comes from lower revenue forecasts (these took 15.5p off the NAV). The discount rate used to value the portfolio has […]
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20 Jun 2023 1 min read
QuotedData’s morning briefing 20 June 2023
CC Japan Income & Growth (CCJI) announced its half year report for the period ended 30 April 2023. NAV total return was up 11.3%, while shares rose 13.1%. The strong returns were ahead of the benchmark TOPIX index which was up 9.5%. Returns in Japan have been solid over the course of the year as […]
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24 Mar 2023 4 min read
Starwood European Real Estate Finance benefits from rising rate environment
Starwood European Real Estate Finance (SWEF) has released its annual results or the year ended 31 December 2022. This was the last year of account for which SWEF was not in realisation mode as, post period end, shareholders approved a new investment objective and policy that will see an orderly realisation of the fund’s portfolio, […]
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01 Nov 2022 1 min read
Starwood European plans wind up
Starwood European Real Estate Finance says that following a review of its strategy and after seeking advice from its advisers, its board intends to recommend a strategy of orderly realisation and the return of capital over time to shareholders. Under the current discount control mechanism, the company is required to redeem up to 75% of […]
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24 Mar 2022 1 min read
QuotedData’s morning briefing 24 March 2022
In QuotedData’s morning briefing 24 March 2022: Starwood European Real Estate Finance (SWEF) generated an NAV return of 6.6% for the year ended 31 December 2021 and paid a reduced dividend of 5.5p (down from 6.5p). Subject to the discount triggered realisation mechanism not being activated, the directors will put forward a realisation vote no […]
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11 Aug 2021 3 min read
QuotedData’s morning briefing 11 August 2021
In QuotedData’s morning briefing 11 August 2021: Round Hill Music Royalty (RHM) has made its first open market acquisition since its IPO by acquiring the music catalogue of Yes guitarist and film score composer, Trevor Rabin. This includes 3,528 cues from films such as Armageddon, Enemy of the State and Bad Boys II and songs such as Owner of a Lonely […]
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21 Jul 2021 1 min read
QuotedData’s morning briefing 21 July 2021
In QuotedData’s morning briefing 21 July 2021: Bluefield Solar (BSIF) received applications for 89,067,980 new shares under its issue and the board has decided to increase the offer size so that it can accept the lot. The shares are being issued at 118p – the gross issue size will be £105.1m. Custodian REIT (CREI) has sold […]
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10 Aug 2020 2 min read
Starwood European Real Estate Finance announces buyback programme
Starwood European Real Estate Finance (SWEF) has announced that it has appointed Jefferies International Limited to administer its share buyback programme. Details are as follows: As SWEF’s agent, Jeffries is permitted to buy back shares in the market independently of, and without influence by SWEF. This is provided that the maximum price payable for a […]
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03 Aug 2020 2 min read
QuotedData’s morning briefing 3 August 2020
In QuotedData’s morning briefing 3 August 2020: Fidelity Japan (FJV) reported interim results to 30 June 2020. The trust’s NAV increased by 2.3% in sterling terms, which FJV noted was ahead of its reference index which returned (0.8%) and the average of the peer group which returned 0.7%. Manager, Nicholas Price, notes that: “Japan continues to […]
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09 Jun 2020 1 min read
QuotedData’s morning briefing 9 June 2020
In QuotedData’s morning briefing 9 June 2020: Aberdeen Standard Asia Focus has entered into a new two year multicurrency revolving loan facility of £20 million with The Royal Bank of Scotland International Limited (“RBSI”), which replaces the Company’s $25m loan facility with RBSI, which matured on 5 June 2020. £18.2 million of the loan has been drawn […]
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30 Mar 2020 2 min read
QuotedData’s morning briefing 30 March 2020
EasyJet has grounded its entire fleet on a morning that has also seen the price of crude oil fall below $20 (an 18-year low). Jupiter UK Growth (JUKG) reported interim results to 31 December 2019, with the total return NAV increasing by 7.8%. The focus is of course on covid-19. Chairman, Tom Bartlam, said: “In […]
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25 Mar 2020 1 min read
QuotedData’s morning briefing 25 March 2020
In QuotedData’s morning briefing 25 March 2020: The US reached an agreement to provide a $2tn stimulus package Meanwhile, India became the latest country to send its population into lock down Starwood European Real Estate Finance (SWEF) said that it, in line with the FCA’s guidance, it would delay publishing its annual results RM Secured […]
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20 Mar 2020 2 min read
Starwood European Real Estate Finance says its fundamentals are in order
Starwood European Real Estate Finance (SWEF) invests in the property – debt sector. It said the following in an update statement this morning: “SWEF notes the recent negative price movements in the company’s shares and provides an update in light of the current disruption to markets as a result of COVID-19. The company currently has […]
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09 Mar 2020 1 min read
QuotedData’s other news 9 March 2020
In QuotedData’s other news 9 March 2020 – Ongoing difficulties in the relationship between Pollen Street Secured Lending (PSSL) and its manager Pollen Street Capital (PSC) continue. PSC has been served notice of the termination of its management agreement (click here to read more). PSC has this morning released a statement (you can access it […]
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07 Jan 2020 2 min read
QuotedData’s other news 7 January 2020
In QuotedData’s other news 7 January 2020 Standard Life Investments Property Income Trust (SLIPIT) has completed the sale of a single let office building in Staines. The 26,300 square foot building was sold for a net price of £10.7m, reflecting an equivalent yield of 5.7%. The property had recently been relet after SLIPIT took a surrender […]
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18 Dec 2019 1 min read
QuotedData’s other news 18 December 2019
In QuotedData’s other news 18 December 2019 Sun Life Financial has bought a majority stake in Infrared Capital Partners, the investment adviser to HICL Infrastructure and The Renewables Infrastructure Group. This won’t have any impact on the day-to-day running of the funds. Infrastructure India has maxed out its $105m borrowing facility, borrowing another $30m to develop […]
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03 Dec 2019 1 min read
Starwood European Real Estate Finance makes Spain office investment
Starwood European Real Estate Finance makes Spain office investment – Starwood European Real Estate Finance (SWEF) has announced that on 29th November 2019, the group closed an investment in a 5-year floating rate loan secured by a portfolio of office assets Spain, with Starwood Property Trust, Inc (through a wholly owned subsidiary) participating in 50 per cent of the mezzanine loan amount, providing the group with a net commitment of €24m. The […]
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19 Nov 2019 1 min read
QuotedData’s other news 19 November 2019
In QuotedData’s other news 19 November 2019 Amedeo Air Four says that Emirates will take two of its A380s out of service for a while to allow it to install new premium economy cabins. This won’t affect Amedeo Air Four’s income but it thinks it might help when it comes to selling the planes at the […]
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24 Sep 2019 1 min read
QuotedData’s other news 24 September 2019
In QuotedData’s other news 24 September 2019 Starwood European Loan Finance has lent a developer £56.8m for two years. The money will be used to complete a residential development in London. Also the final €15m lent to a European industrial portfolio has been repaid. This leaves SWEF with net cash of £5.5m against unfunded commitments of […]
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14 May 2019 1 min read
QuotedData’s other news 14 May 2019
FastForward Innovations has announced that it has sold part of its stake in Vemo Education Inc. for a cash consideration of US$442,235.33. FastForward has sold its Series seed-1 preferred holding of 2,527,059 shares and is left with a holding of 1,000,000 Series seed-2 preferred shares (0.47% of Vemo). The series 2 share class enjoys significantly preferential […]
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13 May 2019 1 min read
QuotedData’s other news 13 May 2019
Starwood European Real Estate Finance (SWEF) has this morning announced that it has raised £40m in an ordinary share placing. The placing was announced on May 7, which we covered here. Sirius Real Estate, a leading operator of branded business parks providing conventional space and flexible workspace in Germany, has completed the acquisition of Buxtehude […]
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07 May 2019 1 min read
Starwood European looks to raise £40m
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 […]
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26 Mar 2019 2 min read
Starwood European secures new loans in 2018 results
Starwood European secures new loans in 2018 results – Starwood European Real Estate announced its 2018 year-end results today. New loans to borrowers totalled £208.0m, and net investment was £70.8m. The NAV total return was +7.0%, and the NAV per share was 102.68p. Share price was 102.0 at 31 December 2018, indicating the company was […]
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28 Mar 2018 1 min read
Investment Trust Insider on Starwood European Real Estate Finance
Investment Trust Insider on Starwood European Real Estate Finance James Carthew: Starwood loan fund shines after slow start Starwood European Real Estate Finance (SWEF) celebrated its fifth birthday in December. As the name suggests, it invests in debt secured against property in the EU. Its loans typically range between three and seven years with the […]
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27 Mar 2018 2 min read
Busy year for Starwood as lending hits record levels
Busy year for Starwood as lending hits record levels – Starwood European Real Estate Finance generated an NAV total return of 7.2 per cent and a share price total return of 7.6 per cent for 2017. Total dividends of 6.5 pence were declared in relation to the year ended 31 December 2017. The manager says that the group […]
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12 Feb 2018 1 min read
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 […]
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04 Sep 2017 1 min read
Five alternative investments for 5% plus yields
Investors’ insatiable appetite for income has pushed many innovative income funds to lofty premiums, but a host of opportunities remain. Jennifer Hill outlines five routes to pocket in flation-beating income. Investors are on the hunt for alternative sources of income, given the high valuations of many equity markets and poor value in bonds. ‘We’ve been looking […]
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23 Aug 2017 3 min read
Starwood European proposes changes to DCM and management agreement
Starwood European proposes changes to DCM and management agreement – The board of directors has announced proposals that relate to the discount-triggered realisation mechanism and realisation vote currently provided for in the Articles ), amendments to the investment management agreement with Starwood European Finance Partners Limited and the replacement of the existing carried interest entitlement […]
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03 Apr 2017 2 min read
Three new loans for Starwood European
Starwood European Real Estate Finance Limited has committed to three new loans for a total of EUR133.35 million. Irish School, Dublin: On 31 March 2017 the Group advanced an EUR18.85 million 3 year floating rate whole loan to support the acquisition and repositioning of a South Dublin office building in the Republic of Ireland. The […]
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21 Mar 2017 1 min read
Starwood European says two loans repaid
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 […]
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31 Aug 2016 1 min read
Starwood European Real Estate Finance is considering a new placing programme
Starwood European Real Estate Finance has announced proposals for a new placing programme to issue up to 250m shares and/or c shares. The company’s existing placement programme expires on 6 September 2016 and the board says that it is now considering a new replacement programme at a point later in 2016 or in 2017. The […]
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24 Aug 2016 1 min read
Starwood European has strong pipeline of new loans
At 30 June 2016, Starwood European Real Estate Finance’s NAV was 100.92p and its share price 105.75p. The fund continues to target a dividend at an annualised rate of 6.5 pence per Ordinary Share and has declared a dividend of 1.625 pence per Ordinary Share (6.5 pence annualised) for each of the first two quarters […]
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15 Jun 2016 1 min read
Starwood European Real Estate Finance provides a €31.2m loan for Dublin logistics assets
Starwood European Real Estate Finance has announced that it has committed to a €31.2m five year floating rate whole loan to support the acquisition of a portfolio of fully let prime logistics assets in Dublin. The Loan has an initial drawdown of €17.6m with the remaining €13.6m to be advanced in conjunction with the deferred […]
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18 May 2016 1 min read
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. […]
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21 Mar 2016 2 min read
Starwood European wants to introduce longer term gearing
Starwood European Real Estate Finance has published results for the year ended 31 December 2015. The NAV and share price total return in the period were 7.58% and 8.22% respectively. At the year end, the shares were quoted at 107.63 pence per share, being a premium of 7.17% to the net asset value per share of […]
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11 Mar 2016 1 min read
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 […]
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27 Aug 2015 1 min read
Starwood European to trim dividend
Starwood European Real Estate Finance has published its interim results covering the six month period to the end of June 2015. As at 30 June 2015, the Net Asset Value was 99.94 pence per Ordinary Share and the share price was 107.25 pence. The Board believes that competition to provide loans is increasing and Starwood […]
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21 Jul 2015 1 min read
Starwood increases size of placing to £24m
Starwood European Real Estate announced yesterday (20 July 2015) a placing to raise up to £15m before costs with the proceeds of the placing to be used to fund a loan currently in execution and other transactions that the Investment Adviser believes have a high probability of execution in the short term. Starwood has subsequently announced today […]
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03 Jul 2015 1 min read
Starwood European lends against Danish property
Starwood European Real Estate Finance has committed to provide two facilities for a total of DKK350.3m (about £33.5m) for a portfolio of light industrial assets throughout Denmark. The first facility is a mezzanine facility to refinance a portfolio already owned by the sponsor. The second facility is a whole loan to support the acquisition of […]
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30 Mar 2015 3 min read
Starwood reports on busy 2014
Starwood European Real Estate Finance has announced results for the year ended 31 December 2014 that show a small increase in its net asset value from 99.13p to 100.08p but a much larger increase in its share price from 100.75p to 106.25p. Dividends per share were 5.8p, to give a total return on net assets […]
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23 Dec 2014 1 min read
Starwood finances Aldgate Tower
Starwood European Real Estate is providing £45m towards the £200m refinancing of the Aldgate Tower, a new Grade A office building located in the City of London. The terms of the loan have not been disclosed but Starwood say “The loan’s interest rate is part fixed with part floating over 3 month LIBOR. The Company expects […]
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05 Dec 2014 1 min read
Starwood financing Centre Point refurbishment
Starwood European Real Estate Finance, alongside other Starwood funds, made a £220m loan to Almacantar, a property investment and development company specialising in London. They now plan to increase the size of this loan to £265m with this fund providing £5m of this. Almacantar plan to use this to fund the refurbishment of Centre Point, […]
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17 Jun 2014 1 min read
Tamar European Industrial Fund : TEIF – recommended cash offer
Tamar European Industrial Fund announced on 16 June that Lux Starlight, a newly incorporated Luxembourg private limited liability company, and TEIF have agreed on the terms of a recommended cash offer to be made by Lux Starlight for the entire issued and to be issued ordinary share capital of TEIF. The offer is 38.25p in cash, valuing the total […]
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21 Mar 2014 1 min read
Starwood European Real Estate Finance : SWEF – annual results
Starwood European Real Estate Finance has completed its first financial year. At the end of 2013 its net asset value was 99.13p and its share price 100.75p (it launched on 17 December 2012 at £1). It paid a dividend of 1.9p for the period in February this year, less than forecast at the time of the […]
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05 Mar 2014 1 min read
Starwood European Real Estate Finance
Starwood European Real Estate Finance is providing a €14.3m facility to enable the purchase of an office building in Amsterdam fully occupied by UPC Nederlands. They say the return on the facility will be ‘solid single digit’. With this deal, SWEF has now made eight investments adding up to a total value of £168m or 72% of net […]
