Starwood receives full repayment on two portfolio loans

Starwood European Real Estate Finance announced on Tuesday that it received full repayment of the Dutch industrial portfolio and Danish industrial portfolio loans as a result of the sale of both portfolios, representing a total of approximately £51.5m equivalent proceeds.

The London-listed firm said a number of loans in the group's portfolio benefitted from prepayment protection in their early years, providing the group with a level of income protection should such loans repay whilst in that protected period.

“The Danish loan was originated in June 2015 and benefits from such provisions, meaning that the group will bear no effective drag on the repayment of this loan for a further few months,” the board explained.

As it reported in its December factsheet, the Starwood’s investment adviser remained in advanced discussions on “a number” of opportunities.

“Heads of terms have been signed on two loans which have now moved into execution.

“These opportunities remain subject to final due diligence and documentation and, if they proceed, will allow the group to deploy a substantial part of the available cash.”