REG-Starwood European Real Estate Finance Ltd SWEF: December 2025 NAV

Starwood European Real Estate FinanceAnnouncement

23/01/2026 07:02

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   Starwood European Real Estate Finance Ltd (SWEF)
   SWEF: December 2025 NAV

   23-Jan-2026 / 07:00 GMT/BST

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   Starwood European Real Estate Finance Limited (the “Company”) (Ticker:
   “SWEF”)

                       Net Asset Value, 31 December 2025

   This announcement contains price sensitive information.

   As at the close of  business on 31 December  2025 the unaudited net  asset
   value (NAV) of the Company’s Ordinary Shares was 96.82p (30 November 2025:
   96.74p). The 31 December 2025  NAV shown here  has been calculated  before
   taking into account the dividend of 1.375 pence per share announced by the
   Company today which will be recognised  in January 2026 NAV. Please  refer
   to  the  Reconciliation  of  NAV  per  share  movements  below  for   more
   information.

    

   Net Asset Value in total:

    

   Loans advanced                                          £8.3m
   Cash and cash equivalents                              £14.4m
   Financial assets at fair value through profit or loss   £0.1m
   Other net assets/(liabilities)                        (£0.3m)
   Net assets                                             £22.5m

    

   Capital amounts drawn as at 31 December 2025 are shown below.

    

                        Local Currency                     Sterling (2)
   Amounts drawn €m (1)                   €8.8m                   £7.7m
       Total drawn                                                £7.7m

    

   (1) The balances shown corresponds to cash advanced.

   (2) Euro amounts drawn converted at the month end spot rate.

    

   The difference  between  amounts  drawn  in the  table  above  and  “Loans
   advanced” in the first table is accrued income.

    

   Reconciliation of NAV per share movements for the month ended 31 December
   2025:

    

                                                        December 2025 (pence)
   NAV at the beginning of period                                       96.74
   Operating Income (loss) available to distribute (3)                 (0.03)
   Net impairment provision on asset classified as                       0.41
   Stage 3 (4)
   Realised FX gains / (losses) not distributable (5)                  (4.76)
   Reclassification of Realised FX gains from not
   distributable to distributable income following loan                  4.69
   repayments (5)
   Unrealised FX gains / (losses) (6)                                  (0.23)
   NAV at the end of the period                                         96.82

    

   (3) Operating Income (loss) available to distribute comprises loan  income
   recognised in  the period  less operating  costs incurred  and before  any
   impairment is  taken  into  account. The  Operating  Income  available  to
   distribute also includes realised foreign  exchange gains and losses  that
   are available to  distribute except  where the realised  gains and  losses
   relate to the settlement of hedges that were previously rolled forward and
   the gain or  loss on that  roll forward was  classified as unavailable  to
   distribute (see note 5 below). 

   (4) In December 2025  a loan classified  as Stage 3 had  a reversal of  an
   impairment made in 2025.

   (5) On occasion, the Group may realise  a gain or loss on a capital  hedge
   before the loan matures.  When this situation  arises the Group  separates
   the realised FX gain or  loss from other realised  FX gains or losses  and
   considers  it  unavailable  to  distribute  or  not  as  a  reduction   in
   distributable profits. The  FX gain or  loss will only  be transferred  to
   distributable income when the loan is  settled, and the final net gain  or
   loss on the capital hedges  over the life of  the loan can be  determined.
   The December reconciliation of NAV above shows the reversing of such an FX
   gain (or proportion thereof) following the repayment of such loan.

   (6) Unrealised foreign exchange gains/losses  relate to the net impact  of
   changes in  the valuation  of  foreign exchange  hedges and  the  sterling
   equivalent value of Euro loan investments (using the applicable month  end
   rate). Mismatches between  the hedge valuations  and the loan  investments
   may occur depending  on the shape  of the  forward FX curve  and this  may
   cause some movement in the NAV. These unrealised FX gains / losses are not
   considered part of distributable reserves.

    

   All figures herein are published  based on current information,  estimates
   and judgements.

                                   Enquiries:

    

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

    

   Duke Le Prevost

   T: +44 20 3530 3630

   E:  1 starwood@apexgroup.com

    

   Jefferies International Limited

   Gaudi Le Roux

   Harry Randall

   Ollie Nott

   T: +44 020 7029 8000

    

   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 conduct an orderly realisation of the assets of the Company. 
    2 www.starwoodeuropeanfinance.com.

    

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

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   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by  3 EQS Group.
   The issuer is solely responsible for the content of this announcement.

   View original content:  4 EQS News

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   ISIN:          GG00BW9KGG29
   Category Code: NAV
   TIDM:          SWEF
   LEI Code:      5493004YMVUQ9Z7JGZ50
   Sequence No.:  415906
   EQS News ID:   2263962


    
   End of Announcement EQS News Service

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References

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