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6 Jun 2014 08:53
06 June 2014
Starwood European Real Estate Finance Limited: Investment Update
Starwood European Real Estate Finance Limited (the "Company") announces that it has committed to provide a £27 million financing facility for an office building in Park Royal, West London.
The three year financing is secured against a six-storey, 160,000 square foot building named FC200 located within the First Central mixed-use development site in Park Royal. The financing will allow the sponsors to refinance the all-cash acquisition of the property in late 2011 as well as fund the remaining capex to complete its fit out. The Company expects to earn a solid single digit return in line with its investment criteria.
£22m of the available facility is expected to be drawn in early June. The Company has now made or committed to nine investments representing approximately 89% of net IPO Proceeds.
For further information, please contact:
Ipes (Guernsey) Limited
John Ellman-Brown
T: +44 1481 713843
Notes:
Starwood European Real Estate Finance is an investment company listed on the main market of the London Stock Exchange with an investment objective to provide Shareholders with regular dividends and an attractive total return while limiting downside risk, through the origination, execution, acquisition and servicing of a diversified portfolio of real estate debt investments in the UK and Continental European markets. www.starwoodeuropeanfinance.com
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