LONDON (Alliance News) - Starwood European Real Estate Finance Ltd on Friday said it has agreed with an existing borrower to refinance and increase a facility it previously provided in relation to a portfolio of Dutch light industrial assets.
The company will increase its commitment by EUR20.4 million to EUR40.3 million, and may seek to syndicate part of the increased exposure.
The revised facility has a remaining term of about three years, and the interest rate is floating over 3 month EURIBOR.
"By finalising this agreement the company has mitigated one of the larger and more imminent repayment risks as well as being able to deploy further funds into an attractive loan position, Starwood said.
Shares in Starwood were down 0.5% at 106.26 pence on Friday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Starwood Eur (SWEF)