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

Starwood European Real Estate FinanceAnnouncement

24/04/2025 07:02

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

   24-Apr-2025 / 07:00 GMT/BST

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

                         Net Asset Value, 31 March 2025

   This announcement contains price sensitive information.

   As at the close of business on 31 March 2025 the unaudited net asset value
   (NAV) of  the Company’s  Ordinary Shares  was 101.34p  (28 February  2025:
   100.71p). The 31  March 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 recognized in the April 2025 NAV. Please refer
   to  the  Reconciliation  of  NAV  per  share  movements  below  for   more
   information.

   Net Asset Value in total:

    

   Loans advanced                                        £101.5m
   Cash and cash equivalents                              £48.8m
   Financial assets at fair value through profit or loss   £0.9m
   Other net assets/(liabilities)                        (£1.2m)
   Net assets                                            £150.0m

    

    

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

    

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

    

                          Local Currency                         Sterling (2)
   Amounts drawn £m (1)                                                £81.3m
                                  £81.3m
   Amounts drawn €m (1)                                                £29.7m
                                  €35.5m
        Total drawn                                                       
                                                  £111.0m
   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 31  March
   2025:

    

                                                March 2025 (pence)
   NAV at the beginning of period                           100.71
   Operating Income available to distribute (4)               0.49
   Unrealised FX gains / (losses) (5)                         0.14
   NAV at the end of the period                             101.34

    

   (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.:   384223
   EQS News ID:    2122516


    
   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=2122516&site_id=reuters~~~787b94c3-8286-43cc-98b3-26b1dc52d810&application_name=news


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