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

Starwood European Real Estate FinanceAnnouncement

20/02/2025 07:15

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

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

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

                        Net Asset Value, 31 January 2025

   This announcement contains price sensitive information.

   As at the close  of business on  31 January 2025  the unaudited net  asset
   value (NAV)  of the  Company’s Ordinary  Shares was  100.24p (31  December
   2024: 100.49p). 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                              £95.5m
   Financial assets at fair value through profit or loss   £0.9m
   Other net assets/(liabilities)                        (£3.7m)
   Net assets                                            £194.4m

    

    

   The Cash and cash equivalents balance  in the table above includes a  cash
   reserve to cover undrawn loan commitments in the portfolio, totaling £23.0
   million, as set out in the table below.

    

   Capital amounts drawn  as at  31 January  2025 and  amounts committed  but
   undrawn as at 31 January 2025 are shown below.

    

                          Local Currency                         Sterling (2)
   Amounts drawn £m (1)                                                £82.7m
                                  £82.7m
   Amounts drawn €m (1)                                                £29.4m
                                  €35.1m
        Total drawn                                                       
                                                  £112.1m
   Committed but undrawn                   £23.0m                      £23.0m
   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 31  January
   2025:

    

                                                    January 2025 January 2025
                                                      (pence)      (pence)
   NAV at the beginning of period                                      100.49
   Operating Income from continuing loans (4)               0.39             
   Operating Income from early repaid loan (4)              0.63             
   Operating Income available to distribute (4) -                        1.02
   total
   Unrealised FX gains / (losses) (5)                                    0.11
   Dividend declared                                                   (1.38)
   NAV at the end of the period                                        100.24

    

   (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.  Included in the loan income  recognised
   in January 2025  is circa  £1.2m (equivalent to  0.63p per  share of  loan
   income) related  to  Hotels, United  Kingdom  which was  fully  repaid  in
   January 2025  in  advance  of  its contractual  maturity  date  and  which
   benefited from the earlier than forecast recognition of interest and fees.
   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:           GG00BPLZ2K28
   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.:   376663
   EQS News ID:    2088797


    
   End of Announcement EQS News Service

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References

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