News Column

Starwood European Real Estates Adds To Portfolio

May 19, 2014

Anthony Tshibangu

LONDON (Alliance News) - Starwood European Real Estate Finance Ltd,which completed its initial public offering in December 2012, Monday said it currently has eight investments, with the most recent an office building in Amsterdam.

Earlier this year, the company provided a EUR14.3 million financing facility for the acquisition of an office building in Amsterdam fully occupied by UPC Nederlands, BV. The group expects to earn a solid single digit return in line with its investment criteria. The loan was fully drawn in the middle of April.

In March the company said it was experiencing some challenges in its first year with investment activity slower than anticipated but picking up as it approached the calendar year-end.

The company, posted total income from investments of GBP6.0 million for the period November 9, 2012 to December 31, 2013.

Starwood said it had anticipated being substantially fully invested within twelve months, however, at the period-end it was 66% invested through seven investments.

The company said its net asset value has slowly increased after falling in January. At March 31 the company had a net asset value per share of 99.21 pence up from 98.78 pence in February 28 and 98.48 pence in January 31. The company's net asset value per share at December 31,2013 was 99.13 pence.

Starwood shares were quoted up 0.5% at 99.49 pence Monday afternoon.

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Source: Alliance News

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