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

Starwood European Real Estate FinanceAnnouncement

20/03/2025 07:15

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

   20-March-2025 / 07:00 GMT/BST

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

                       Net Asset Value, 28 February 2025

   This announcement contains price sensitive information.

   As at the close of  business on 28 February  2025 the unaudited net  asset
   value (NAV) of the Company’s Ordinary Shares was 100.71p (31 January 2025:
   100.24p). Please refer to  the Reconciliation of  NAV per share  movements
   below for more information.

   Net Asset Value in total:

    

   Loans advanced                                        £101.7m
   Cash and cash equivalents                              £47.3m
   Financial assets at fair value through profit or loss   £1.2m
   Other net assets/(liabilities)                        (£1.1m)
   Net assets                                            £149.1m

    

    

   The Cash and cash equivalents balance  in the table above includes a  cash
   reserve to cover undrawn loan commitments in the portfolio, totaling £19.0
   million, as set out in the table below.

    

   Capital amounts drawn  as at 28  February 2025 and  amounts committed  but
   undrawn as at 28 February 2025 are shown below.

    

                          Local Currency                         Sterling (2)
   Amounts drawn £m (1)                                                £82.7m
                                  £82.7m
   Amounts drawn €m (1)                                                £29.0m
                                  €35.1m
        Total drawn                                                       
                                                  £111.7m
   Committed but undrawn                   £19.0m                      £19.0m
   cash amounts £m (3)

    

   (1) The balances shown corresponds to cash advanced.

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

   (3) Excludes interest which may be capitalised.

    

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

    

    

   Reconciliation of NAV per share movements for the month ended 28  February
   2025:

    

                                                February 2025 (pence)
   NAV at the beginning of period                              100.24
   Operating Income available to distribute (4)                  0.56
   Unrealised FX gains / (losses) (5)                          (0.09)
   NAV at the end of the period                                100.71

    

   (4)  Operating  Income  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.

   (5) Unrealised foreign exchange  gain/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: +44 203 5303 630

   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 EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GG00BTZJM644
   Category Code:  NAV
   TIDM:           SWEF
   LEI Code:       5493004YMVUQ9Z7JGZ50
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   379574
   EQS News ID:    2103202


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:starwood@apexgroup.com
   2. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=6c17e6900ed8c3b5447dc05b49ad61d8&application_id=2103202&site_id=reuters~~~6aa99418-46f7-48b9-89fd-959a8d2e4912&application_name=news


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