SWEF : Investment Update

19 July 2017

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN, NEW ZEALAND OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

Starwood European Real Estate Finance Limited: Investment Update

Starwood European Real Estate Finance Limited (the "Company") announces that it has received full repayment of EUR13.8 million in relation to the Office, Netherlands loan following a successful refinancing of the property by the owner.

The Company intends to use the proceeds to repay the £7.5 million currently drawn on the revolving credit facility and will remain substantially fully invested after receipt of this repayment.

For further information, please contact:

For further information, please contact:

Duncan MacPherson - Starwood Capital - 020 7016 3655

Robert Peel - Fidante Capital - 020 7832 0900

Notes:

Starwood European Real Estate Finance Limited is an investment company listed on the main market of the London Stock Exchange with an investment objective to provide Shareholders with regular dividends and an attractive total return while limiting downside risk, through the origination, execution, acquisition and servicing of a diversified portfolio of real estate debt investments in the UK and the wider European Union's internal market. www.starwoodeuropeanfinance.com.

The Group is the largest London-listed vehicle to provide investors with pure play exposure to real estate lending.

The Group's assets are managed by Starwood European Finance Partners Limited, an indirect wholly-owned subsidiary of the Starwood Capital Group.