7th Oct 2013 10:23
LONDON (Alliance News) - Starwood European Real Estate Finance Limited Monday said it provided GBP18 million as part of a GBP288 million refinancing facility for the Heron Tower, one of London's tallest buildings.
Starwood European Real Estate said it expects to earn a "solid single digit return" as a result of the refinancing.
The company has now made or committed to five investments for a total value of GBP98 million, representing 41.5% of its net assets.
The company said it expects to make further announcements regarding three other investments, after which it will have invested or committed between 65% and 68% of its net assets.
The remainder of the refinancing facility was provided by the US's Starwood Property Trust, Inc.
Starwood European Real Estate Finance shares were Monday quoted at 101.63 pence, up 0.13p.
By Samuel Agini; [email protected]; @samuelagini
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