M7 Capital provides £4.46m acquisition loan for East Kilbride Retail Park

By Bridging Loan Directory 1st February 2022

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 £4.46 million loan to East Kilbride Nominees Ltd.

The property vehicle is managed by David Samuel Properties Ltd (the “Sponsor”) who are a specialist purchaser of Commercial Real Estate assets across the UK with current AUM in excess of £310m.

The loan is secured against East Kilbride Retail Park. The property is a modern retail park comprising three units extending to a total of 34,898 sq ft and is 100% let to three national brand tenants namely Home Store + More, Carpetright and Bensons for Beds with a WALTB of 5.5 years.

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

Their current portfolio is in excess of £310m and has over 470 tenants. This is the fourth loan between DS and M7 Capital with other assets located in Southeast England, Scotland 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 £150 million across 19 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:

“M7C continues to expand its loan book and leverage relationships to grow an extensive pipeline of regional opportunities.

It is great to carry on our longstanding relationship with Andrew Berkeley and his team at David Samuel Properties.

We’re pleased to support the Sponsor’s personal and proactive approach to asset management as they deliver a high-quality product, in line with their business strategy.”

Andrew Berkeley Managing Director at David Samuel Properties said:

“David Samuel Properties are delighted to have concluded another successful funding with M7C. As always, their team has been professional and commercial throughout the transaction.

We would also like to thank GDP Funding, who acted as our finance brokers.