M7 Capital provides £7.4 million loan for shopping centre acquisition


m7 capital

M7 Capital (“M7C”), a full-service real estate debt specialist, announces that it has provided, on behalf of its UK debt fund TREC II, a £7.4 million loan to David Samuel Properties Limited (the “Sponsor”).

The loan is secured against Bouverie Place shopping centre located in the coastal town of Folkestone in Kent comprising multiple units that extend to a total of c. 260,300 sq ft.

The asset is 100% let to a mixture of national brands such as TK Maxx, JD Sports, and Asda.

David Samuel Properties is a specialist purchaser of commercial real estate assets across the UK with current assets under management in excess of £420 million.

David Samuel Properties actively purchases value add assets across various sectors and enhances returns to its investor base through high quality asset management.

Its current assets under management comprises  over 150 locations with over 800 tenants. This is the sixth loan M7 Capital has provided David Samuels Properties, with a diverse mix of other assets located in England, Scotland, Wales and Northern Ireland.

M7 Capital has been the internal adviser to M7 Real Estate (“M7”) for all its debt capital market needs since M7 was established in 2009.

In 2016, M7C expanded its operations to incorporate a real estate lending and loan servicing platform. M7C’s first UK debt fund, TREC II, has now deployed more than £230 million across 24 different loans in line with its strategy of providing loans of up to 70% LTV between £5 million and £25 million across the office, retail warehouse, industrial and leisure sectors.

Hugh Fraser, Chief Executive Officer of M7C said:

“This loan is secured against a high footfall shopping centre in Kent, with a strong occupier mix creating an attractive retail and grocery offering.

David Samuel Properties has a significant track record in the value-add space with a proactive approach to asset management, and we are pleased to be supporting this acquisition and growing our activity with them.”

Andrew Berkeley Managing Director at David Samuel Properties said:

“We are delighted to completed on this purchase and to have successfully concluded another transaction with M7.

As always, we are grateful to the M7 team and our finance broker, GDP Funding, for their professionalism thought the transaction and look forward to expanding our relationship on future deals.