27th Jun 2014 13:54
LONDON (Alliance News) - Starwood European Real Estate Finance Ltd Friday said it is to increase an existing EUR35.3 million whole loan facility by an additional EUR36.1 million in cooperation with private debt funds associated with Starwood Capital Group, in a move that will facilitate the acquisition of nine light-industrial and office properties in the Netherlands.
In a statement, Starwood European Real Estate Finance said that its overall exposure will increase to EUR55.9 million and the acquisitions will take the overall portfolio to 28 assets.
"This marks the final increase in the facility as MBay, the joint venture between M7 Real Estate and Bayside Capital, completes its current light-industrial Dutch acquisitions strategy," Starwood European Real Estate Finance said in a statement.
The deal will mean that the company has fully committed the net proceeds of its initial public offering.
Starwood European Real Estate Finance shares were Friday quoted at 103 pence, up 0.7%.
By Samuel Agini; [email protected]; @samuelagini
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