We use cookies to improve site performance and enhance your user experience. If you'd like to disable cookies on this device, please see our cookie management page.
If you close this message or continue to use this site, you consent to our use of cookies on this devise in accordance with our cookie policy, unless you disable them.

Close
In association with

Home > Your Industry > Companies & People

By Simoney Girard | Published Dec 13, 2012

Real estate property investment to launch on LSE

The investment objective of the new Starwood European Real Estate Finance company is to find and fund “compelling real estate opportunities” across Europe and to harvest returns from it, according to Jeffrey Dishner, president of Starwood Capital Europe.

Today (13 December), an announcement made to the exchange revealed that the new company has closed its initial public offering, having raised £228.5m gross.

Stephen Smith, chairman of the company, said: “We are pleased to have received such broad demand for the IPO, which is the largest investment company launch and the second largest IPO fundraising on the premium segment of the UK Official List this year.”

The company will provide senior, whole loan and mezzanine financing to the property sector across Europe - offering an alternative source of capital to those who have not found the banks as ready to lend.

Fund particulars:

Investment objective: To provide shareholders with regular dividends and an attractive total return.

Net target return: 8 per cent to 9 per cent a year

Dividend: A targeted 7p dividend, once fully invested paid quarterly. A dividend of at least 3.5p is planned for the first year as funds are invested.

Sponsors: Dexion Capital plc and Jefferies International Limited are acting as joint sponsors, joint financial advisers and joint bookrunners.

Expected Admission and commencement of unconditional dealings in the shares: 8am, 17 December

visible-status-Standard story-url-IPO residential SG .xml

COMMENT AND REACTION
Most Popular
More on FTAdviser
FTA jobs