Starwood European Real Estate Finance Announces Significant Capital Distribution

Starwood European Real Estate Finance Ltd. (SWEF), also known as SEREF, has declared its fifth capital distribution to shareholders, amounting to roughly £25.0 million. This distribution is primarily supported by the recent repayments made to the company in March 2024, including a full repayment of €12.4 million from its Shopping Centre investment in Spain and a partial repayment of €19.2 million from another investment in Three Shopping Centres in Spain.

The distribution, labeled as Compulsory Redemption, will offer SEREF shareholders approximately £25.0 million after accounting for expenses, by way of a compulsory partial redemption of shares at £1.0369 per share. This equates to about 8.19% of the company's issued share capital, with the redemption being applied pro rata to holdings as per records on 21 March 2024. The distribution and subsequent adjustments such as changes in share numbers and the transition to a new ISIN, GG00BRC3R375, will be completed by 28 March 2024.

John Whittle, the Chairman of SEREF, expressed his satisfaction with the substantial reductions in the company's exposure to Spanish retail assets achieved through the repayments. The initiative to proceed with this significant capital distribution underscores the company's commitment to an orderly, expedient, and efficient return of capital to its shareholders.