REG-Starwood European Real Estate Finance Ltd SWEF: Update on Office Portfolio, Ireland

Starwood European Real Estate FinanceAnnouncement

19/12/2025 07:02

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   Starwood European Real Estate Finance Ltd (SWEF)
   SWEF: Update on Office Portfolio, Ireland

   19-Dec-2025 / 07:01 GMT/BST

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   NOT FOR RELEASE, PUBLICATION OR  DISTRIBUTION, DIRECTLY OR INDIRECTLY,  IN
   WHOLE OR IN  PART, TO  US PERSONS  OR INTO  OR WITHIN  THE UNITED  STATES,
   AUSTRALIA, CANADA OR  JAPAN, OR ANY  OTHER JURISDICTION WHERE,  OR TO  ANY
   OTHER PERSON  TO  WHOM,  TO  DO SO  WOULD  BE  UNLAWFUL.  THE  INFORMATION
   CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO SELL  OR
   ISSUE, OR ANY  SOLICITATION OF  ANY OFFER  TO PURCHASE,  SUBSCRIBE FOR  OR
   OTHERWISE ACQUIRE, ANY INVESTMENTS IN ANY JURISDICTION.

    

    

                 Starwood European Real Estate Finance Limited

                      Update on Office Portfolio, Ireland

    

   Starwood European Real  Estate Finance Limited  (the “Company” or  “SWEF”)
   provides an  update on  the  loan investment  secured  on a  portfolio  of
   properties in Central Dublin known as the Office Portfolio, Ireland  (“the
   Loan”) to a vehicle indirectly owned by the Blackstone Group Inc. As of 30
   November 2025, the Loan’s carrying value of €4.8 million represented circa
   8.0 per  cent of  the Company’s  Net Asset  Value (“NAV”).   After  taking
   account of the Company’s 11 December’s 2025 announcement of a further  £30
   million share  capital redemption  by  the Company  in December  2025  the
   Loan’s carrying value equates to circa 18.7 per cent of the Company’s  NAV
   as of 30 November 2025 adjusted for the redemption.

    

   On 8 September 2025, the Company  announced that it was in discussions  in
   connection  with the  sale  of  the  Loan.  Based  on  those   non-binding
   discussions, the  Board  also  announced  that it  had  written  down  the
   recoverable value of  the Loan to  €4.8 million.  Further  to support  any
   such sale, such announcement also noted that the Board had commissioned an
   independent report on the above portfolio of properties in Central Dublin.
    Today, the Company announces that the Loan has been restructured with the
   borrower and an entity indirectly owned  by the Blackstone Group Inc  will
   acquire the Loan for  €4.8 million (the  “Transaction”).  €2.8 million  of
   the purchase price  under the Transaction  is being funded  from SPT  Real
   Estate Capital, LLC, an affiliate of Starwood Capital Group (who had  been
   involved in the original sale discussions).  Following completion of  this
   Transaction, Blackstone Group Inc. shall  remain as ultimate Investor  and
   owner of the above  portfolio of properties in  Central Dublin as well  as
   hold the Loan.   The Transaction is  expected to complete  on 23  December
   2025.

    

   As of 30 November 2025,  the Company’s NAV was  £52.4 million and the  NAV
   per share was 96.74 pence. To date, the Company has returned £346  million
   to shareholders in Compulsory Redemptions  in accordance with its  orderly
   realisation strategy adopted  on 27  January 2023. This  is equivalent  to
   83.6 per cent  of NAV as  of 31  January 2023.  In  addition, the  Company
   recently announced  that, this  month, December  2025, it  would return  a
   further  £30  million  to   shareholders  in  Compulsory  Redemptions   in
   accordance with its  orderly realisation  strategy adopted  on 27  January
   2023.

    

   Under  UKLR  8.2.1,  the   Transaction  constitutes  a   1 related   party
   transaction by  virtue of  SPT Real  Estate Capital,  LLC being  deemed  a
   related party of the Company.  The Board of Directors unanimously  believe
   that   the   Transaction    is   fair   and    reasonable   as   far    as
   the  2 security holders    of     the  3 Company are     concerned     and
   the D 4 irectors have  been  so  advised  by  the  Company’s    5 sponsor,
   Jefferies International.

    

   For further information, please contact: 

    

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

    

   Duke Le Prevost

   T: +44 (0) 203 5303 630

   E:  6 Starwood@apexgroup.com

    

   Jefferies International Limited

   Gaudi Le Roux

   Harry Randall

   Ollie Nott

    

   T: +44 (0) 20 7029 8000

    

   The person responsible for arranging the release of this information on
   behalf of the Company is Duke Le Prevost.

    

   A copy of this announcement can be found on the Company’s website:
    7 www.starwoodeuropeanfinance.com.

    

   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.
    8 www.starwoodeuropeanfinance.com.

    

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

    

   Information regarding forward-looking statements

    

   This announcement contains (or may contain) statements that are, or may be
   deemed to be,  ‘‘forward-looking statements’’. Forward-looking  statements
   are based on current expectations and projections about future events  and
   other  matters  that  are  not  historical  fact.  These   forward-looking
   statements are sometimes identified by the use of a date in the future  or
   forward-looking terminology,  including, but  not  limited to,  the  words
   “consider” ‘‘aim’’,  ‘‘anticipate’’,  ‘‘believe’’,  ‘‘intend’’,  ‘‘plan’’,
   ‘‘estimate’’,  ‘‘expect’’,  ‘‘may’’,  ‘‘target’’,  ‘‘project’’,  ‘‘will’’,
   ‘‘could’’ or  ‘‘should’’  or,  in  each  case,  their  negative  or  other
   variations or words of  similar meaning. These forward-looking  statements
   include matters that are not historical facts and include statements  that
   reflect intentions,  beliefs and  current expectations.  By their  nature,
   forward-looking statements involve  risks and  uncertainties because  they
   relate to events and depend on circumstances that may or may not occur  in
   the future or are beyond the Company’s control. They are not guarantees of
   future value or performance and are based on one or more assumptions.

    

   Forward-looking statements contained in this announcement apply only as at
   the date of  this announcement. Subject  to any obligations  under the  UK
   Listing Rules and FCA’s Disclosure Guidance and Transparency Rules, the UK
   version of the  Market Abuse  Regulation or  any other  applicable law  or
   regulation, the Company  undertakes no  obligation publicly  to update  or
   review  any  forward-looking  statement,  whether  as  a  result  of   new
   information, future developments or otherwise.

    

    

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   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by  9 EQS Group.
   The issuer is solely responsible for the content of this announcement.

   View original content:  10 EQS News

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   ISIN:          GG00BW9KGG29
   Category Code: PFU
   TIDM:          SWEF
   LEI Code:      5493004YMVUQ9Z7JGZ50
   Sequence No.:  412073
   EQS News ID:   2247706


    
   End of Announcement EQS News Service

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