Starwood provides debt funding for three deals

The firm has announced the details of three pan-European debt deals across real-estate and infrastructure.

Starwood Capital’s property debt fund, Starwood European Real Estate Finance Limited (SEREFL), has announced three debt deals focusing on real-estate and infrastructure. The debt provided is being used in each case to facilitate an acquisition.

According to a company announcement, SEREFL has provided €18.85 million in a three-year floating-rate whole loan to facilitate the acquisition of an office development in Dublin, Ireland. The loan has been provided to borrower Barry O’Callaghan. The building development will be converted for educational use following its acquisition.

The fund has also provided financing for a Spanish-based acquisition. The fund is providing a €46 million four-year floating-rate loan facility enabling the acquisition of a Barcelona-based hotel. The borrower, unnamed in the company announcement, is described as a partnership of institutional investors with experience investing in hotels. 

Finally, SEREFL is financing the acquisition of a portfolio of industrial assets across Central and Eastern Europe with a three-year floating-rate loan. The loan amount is €68.5 million, €26.5 million of which has already been committed. 

The remaining amount will be committed in the coming weeks, the announcement notes. The sponsor was not disclosed. 

SEREFL had its highest lending total in 2016 since the fund’s launch in 2013. The fund originated £175.9 million (€206 million, $219 million) of debt last year, attributed largely to greater than usual loan repayments. 

A spokesman for Starwood did not return calls seeking additional comment by time of publication.