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SWEF: Investment Update

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Starwood European Real Estate Finance Ltd (SWEF)
SWEF: Investment Update
19-Nov-2019 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

19 November 2019

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY
OR INDIRECTLY, TO U.S. PERSONS OR IN, INTO OR FROM THE UNITED STATES,
AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN, NEW ZEALAND OR ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION

Starwood European Real Estate Finance Limited: Investment activity and RCF
extension

Investment Activity

Starwood European Real Estate Finance Limited (the "Company" and, together
with its subsidiaries, the "Group") is pleased to announce that on 18th
November 2019 the Group committed to fund two new hotel acquisition
financings for a total commitment of GBP64.3 million. Both investments are
with the same sponsor and repeat borrower for Starwood Capital. Whilst the
sponsor is the same on each investment, the two loans are not
cross-collateralised as the investments sit in different fund vehicles.

Each financing has been provided in the form of a significant initial
advance to finance an asset acquisition along with a smaller capex facility
to support the sponsor's capital expenditure for improvements and rebranding
of the hotels. The day one advance amounts are GBP25.9 million and GBP16.7
million whilst the total commitments are GBP41.35 million and GBP22.95 million
respectively. Each loan is for a term of 5 years, and the Group expects to
earn an attractive risk-adjusted return in line with its stated investment
strategy.

Following these transactions, the proportion of the portfolio in the
hospitality sector is back up to approximately 40% which is up from 33.8% at
30th September 2019 but slightly down from 40.5% at 30th June 2019,
reflecting the repayment of the Barcelona hotel loan in the third quarter.
The hospitality portfolio now comprises of seven separate loans spread
across three countries, with a combination of whole and mezzanine loans. The
portfolio provides a high level of diversification by asset location and
type, risk profile and borrower within the hospitality sector.

Following these transactions, the Group has net debt of approximately GBP40
million with unfunded commitments to borrowers of approximately GBP66 million.

Revolving Credit Facility extension

The Company has agreed terms to extend the tenor on its secured Revolving
Credit Facility ("RCF") provided by Morgan Stanley Bank, N.A. to November
2024. The total commitments have increased from GBP64 million to GBP76 million,
in line with the Company's 30% of NAV maximum leverage capacity. In addition
to this, the Company has also extended the tenor on its GBP50 million
multicurrency RCF provided by Lloyds Bank Corporate Markets PLC to May 2021.

For further information, please contact:

Apex Fund and Corporate Services (Guernsey) Limited as Company Secretary -
01481 735879

Dave Taylor

Starwood Capital - 020 7016 3655

Duncan MacPherson

Stifel Nicolaus Europe Limited - 020 7710 7600

Mark Bloomfield

Maarten Freeriks

Mark Young

Notes:

Starwood European Real Estate Finance Limited 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 the wider European Union's internal
market. www.starwoodeuropeanfinance.com [1].

The Group is the largest London-listed vehicle to provide investors with
pure play exposure to real estate lending.

The Group's assets are managed by Starwood European Finance Partners
Limited, an indirect wholly-owned subsidiary of the Starwood Capital Group.

ISIN: GG00B79WC100
Category Code: PFU
TIDM: SWEF
LEI Code: 5493004YMVUQ9Z7JGZ50
Sequence No.: 29948
EQS News ID: 915643

End of Announcement EQS News Service


1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=becc5c83790358f02808a7970e9d8d13&application_id=915643&site_id=vwd&application_name=news


(END) Dow Jones Newswires

November 19, 2019 02:00 ET ( 07:00 GMT)
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