SWEF Starwood European Real Estate Finance Limited

Starwood European Real Estate Finance Ltd (SWEF) 
SWEF: Investment Update 
11-Aug-2021 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 
(MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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11 August 2021 
 
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR IN, INTO 
OR FROM THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN, NEW ZEALAND OR ANY JURISDICTION WHERE TO DO SO WOULD 
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION 
 
Starwood European Real Estate Finance Limited 
 
?54.2m Spanish hotel loan repaid in full 
 
Starwood European Real Estate Finance Limited and its subsidiaries ("the Group"), a leading investor originating, 
executing and managing a diverse portfolio of high-quality real estate debt in the UK and Europe, is pleased to 
announce that during July 2021 it received the full and final repayment of its ?54.2m loan on a resort hotel in Spain. 
 
The sponsor of the loan had completed a comprehensive refurbishment of the property in 2020 which was partially funded 
by the Group. The hotel re-opened as a luxury five-star resort property in May 2021 under a sponsor owned brand. The 
sponsor is an integrated owner, operator and developer of branded, award winning five-star luxury resorts in prime 
beachfront locations across the Mediterranean. The sponsor group benefits across its wider portfolio from high customer 
satisfaction (ranked #1 by TripAdvisor consistently) and superior operational performance with average occupancy rates 
of approximately 95 per cent through the season and high average daily rates. Guest reviews and forward bookings for 
the subject property in Spain are very strong, an affirmation of the quality of the hotel product, sponsor's management 
team, and strength of the brand. This also demonstrates the discipline of the Group's investment criteria in funding 
sponsors of significant strength and track record.  The sponsor has repaid the Group's refurbishment loan in full 
following the successful execution of their business plan and re-financing. 
 
Following repayment of this loan, the Group's exposure to the hospitality sector reduces by approximately 19 per cent 
to 33 per cent of the investment portfolio as it stood at 30 June 2021. Additionally, excluding this investment, the 
total amount of Stage 2 categorised investments (loans with increased credit risk as defined in the Q4 2020 Quarterly 
Investment Update) reduces by 29 per cent to approximately 27 per cent of NAV. 
 
After repayment of this loan, the Group will have net cash on hand of £24.1m, increased from a net debt position of 
£9.6m as at 30 June 2021.  The Group's pipeline of prospective new investments is robust, with a strong likelihood of 
re-investment of this cash within the medium term. 
 
Stephen Smith, Non-executive Chairman, said: 
 
"We are pleased to have received this payment in full, strengthening the robustness of our loan book and our cash 
balance. The investment adviser is actively exploring attractive re-investment opportunities in line with our stringent 
loan origination criteria." 
 
For further information, please contact: 
Apex Fund and Corporate Services (Guernsey) Limited as Company Secretary 
01481 735814 
Magdala Mullegadoo 
 
Starwood Capital     +44 (0) 20 7016 3655 
Duncan MacPherson 
 
Jefferies International Limited     +44 (0) 20 7029 8000 
Stuart Klein 
Neil Winward 
Gaudi Le Roux 
 
Buchanan      +44 (0) 20 7466 5000 
Helen Tarbet       +44 (0) 07788 528143 
Henry Wilson 
Hannah Ratcliff 
 
 
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 provide Shareholders with regular dividends and an attractive total return 
while limiting downside risk, through the origination, execution, acquisition and servicing of a diversified portfolio 
of real estate debt investments in the UK and the wider European Union's internal market. 
www.starwoodeuropeanfinance.com. 
The Group is the largest London-listed vehicle to provide investors with pure play exposure to real estate lending. 
The Group's assets are managed by Starwood European Finance Partners Limited, an indirect wholly owned subsidiary of 
the Starwood Capital Group. 
 
 
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ISIN:          GG00B79WC100 
Category Code: PFU 
TIDM:          SWEF 
LEI Code:      5493004YMVUQ9Z7JGZ50 
Sequence No.:  119670 
EQS News ID:   1225391 
 
End of Announcement  EQS News Service 
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