SWEF: June 2024 Net Asset Value Update

Starwood European Real Estate Finance Ltd (SWEF) has reported its unaudited net asset value (NAV) for 30 June 2024. The NAV of the company’s Ordinary Shares stood at 104.92p, up from 104.29p in May 2024. This figure is calculated before accounting for the dividend of 1.375p per share announced today.

The company’s total net assets are valued at £283.5 million, comprising £166.9 million in loans advanced, £117.1 million in cash and cash equivalents, £0.9 million in financial assets at fair value, and (£1.4 million) in other net liabilities.

The cash reserves include £24.1 million earmarked for undrawn loan commitments. The amounts drawn include £136.3 million in Sterling and €33.9 million (£28.8 million) in Euros. Additionally, £24.1 million is committed but undrawn.

The reconciliation of the NAV reflects various components including operating income, reclassification of FX gains, and unrealised FX gains or losses. Notably, operating income available to distribute contributed 0.77p to the NAV, while realised FX hedging gains added 0.40p.