18th Mar 2016 15:37
LONDON (Alliance News) - Starwood European Real Estate Finance Ltd saw a total return on net asset value per share of 7.6% In 2015, it said Friday.
The investment company said its net asset value was 100.43 pence at the end of 2015, compared to 100.08p in 2014.
Starwood said it committed around GBP108 million in new loans during the year, and repaid loans with a total value of GBP39 million.
It said total dividends of 7.0p have been declared for 2015, compared to 5.8p in 2014.
"The group starts 2016 with a portfolio that is achieving an annualised return that enables it to meet the revised dividend target of 6.5 pence per annum. The group is well diversified in terms of geography and sector and the loan-to-value is lower than anticipated at IPO due, in part, to a higher proportion of whole loans. The Investment Manager and Adviser continue to find interesting opportunities to advance whole loans with attractive risk adjusted returns," Starwood said in a statement.
Shares in Starwood were down 0.8% at 105.3 pence Friday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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