SWEF Reports Steady Progress in First Half of 2024

Starwood European Real Estate Finance Limited (SWEF) has announced its half-year results for the period ending 30 June 2024. The company continues its strategy of orderly realisation and capital return to shareholders, with significant achievements highlighted during the first half of the year.

SWEF has repaid £102.1 million, accounting for 38.9% of the Group's total funded loan portfolio as of 31 December 2023. This includes the complete settlement of four loans amounting to £101.2 million. Consequently, £125.0 million has been returned to shareholders so far in 2024.

The loan portfolio remains robust with an average remaining term of 1.5 years and continues to support dividend payments of 5.5 pence per share, yielding an annual dividend of 5.9%. Notably, 85% of the portfolio is contracted at floating interest rates, providing some inflation protection.

The Group maintains a cautious approach, closely monitoring loan exposures and underlying collateral performance. As of 30 June 2024, the portfolio's Loan to Value stands at 58%, demonstrating a significant equity cushion.