Source - Alliance News

Starwood European Real Estate Finance Ltd on Friday reported a higher net asset value for 2022, citing its investment strategy.

The real estate debt-focused investor posted an improved net asset return in 2022, as it maintained its payout.

Net asset value per share at December 31 rose 2.0% to 105.20 pence per share, from 103.09p at the same time a year prior. Total NAV return in 2022 was 7.7%, improved from 4.6% in 2021.

The company maintained a dividend of 5.5p per share.

Starwood European said: ‘As anticipated, and as in the past, we are pleased to report that the group’s NAV has once again remained stable during the year demonstrating the highly resilient credentials of the asset class that contributes to its success as a reliable source of alternative income. We do not expect to see significant movements in NAV as the group’s loans are held at amortised cost and euro exposures are hedged.’

Looking ahead, Chair John Whittle said: ‘The focus of the group for 2023 is the commencement of the orderly realisation strategy and the return of capital to shareholders over time.’

Starwood European Real Estate Finance shares were 0.1% higher at 91.73 pence each on Friday midday in London.

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