SWEF Announces April 2024 Net Asset Value

Starwood European Real Estate Finance Ltd (SWEF) has disclosed its unaudited net asset value (NAV) for 30 April 2024. The NAV of the company's ordinary shares was 103.65p, down from 104.45p on 31 March 2024. Detailed reconciliation of NAV per share movements is provided below.

The company's net assets totaled £280 million. This includes loans advanced of £223.3 million, cash and cash equivalents of £60.5 million, and financial assets at fair value through profit or loss of £1.1 million, offset by other net liabilities of £4.9 million.

The cash balance includes a reserve of £31.4 million to cover undrawn loan commitments. As of 30 April 2024, the amount drawn in local currency amounted to £221 million, while committed but undrawn cash totaled £31.4 million.

April began with a NAV of 104.45p. Operating income available to distribute added 0.75p, while unrealized FX losses subtracted 0.17p. A declared dividend reduced the NAV by 1.38p, leading to an end of period NAV of 103.65p.