Starwood European Real Estate Finance invests in Maybourne Hotel Group

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Starwood European Real Estate Finance invests in Maybourne Hotel Group

Thu, 27 December 2012
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Starwood European Real Estate Finance Ltd Quote more

Price: 103.00

Chg: -0.50

Chg %: -0.48%

Date: 12:58

Starwood European Real Estate Finance (SEREF) and Starwood Property Trust (STWD) announced Thursday they were investing in Maybourne Hotel Group.

The firms are acting as partners in the five-year £547m refinancing of the group's £147m mezzanine component.

The refinancing has been secured on three five-star luxury London hotels including three of the world’s most renowned hotels, namely Claridge’s, the Connaught and the Berkeley.

SEREF has invested £19m and STWD £30m to the refinancing which comprises of a £400m senior loan and £147m of mezzanine.

SEREF's contribution has been undertaken on a loan at around 50%. The company will earn a double digit yield in line with its investment criteria as outlined in its prospectus.

SEREF is an investment company with a diversified real estate portfolio in the UK and Europe, while STWD focuses on financing and managing commercial mortgage loans and residential related debt investments.

Shares for SEREF were up 0.12% to 102.63p at 15:05 Thursday.


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