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LONDON (Alliance News) - Starwood European Real Estate Finance Ltd, a London-listed investment company, on Tuesday said it committed to a EUR31.2 million five-year floating whole loan to support the acquisition of a portfolio of fully let prime logistics assets in Dublin.
The loan has an initial drawdown of EUR17.6 million with the remaining EUR13.6 million to be advanced in conjunction with the deferred completion on certain assets.
"Much of the portfolio is let on a long term basis to a strong covenant which uses the assets as its national headquarters. Such an investment is not only attractive on its own merits but also further delivers sector diversity to the overall portfolio of the company," Starwood European Real Estate Finance said in a statement.
Shares in Starwood European Real Estate Finance were up 0.2% at 104.75 pence on Tuesday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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