Starwood European Real Estate Finance announces a £20 million capital distribution

Starwood European Real Estate Finance Limited (SEREF) has announced a fourth capital distribution of approximately £20 million to shareholders. This operation is funded by the full repayment of a loan for offices in Madrid amounting to €18.8 million in December 2023, and a partial repayment of a loan for a hotel in Dublin of €6.0 million in January 2024.

The distribution will be carried out through a mandatory partial share buyback at a price of £1.0308 per share. The amount allocated for the repurchase is net of costs and expenses, estimated at around £10,000. The repurchase was set on a pro-rata basis of holdings on the share register at the close of business on February 22, 2024, with an approximate redemption rate of 6.19%. Payments to shareholders are expected to be made via CREST or by check by February 28, 2024.

On that date, the repurchased shares will be canceled, and a new certificate will be issued to certified shareholders. A new ISIN number will also be activated on February 23, 2024, for the remaining unredeemed shares. SEREF's Chairman, John Whittle, expressed the company's satisfaction in being able to return capital to shareholders in this manner and anticipated further distributions in the months ahead.