Accrue Capital secures £4m debt refinance from M7 Capital

By Bridging Loan Directory 7th March 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 million loan to Accrue (Forum) LLP.

The Sponsor (Accrue Capital) is a property investment, development, and asset management business with experience across all real estate sectors.

The company invests its own capital alongside joint venture partners and currently manages assets valued in excess of £100 million.

The loan is secured against properties at Great Stone Road, Stretford and Excelsior Park, Wishaw. Great Stone Road is a retail warehouse located next to Old Trafford Cricket ground and is zoned for residential development.

The property totals 37,287 sq ft and is currently vacant having previously been let to B&Q. Unit 1 Excelsior Park is an industrial property comprising of both warehouse and office accommodation totalling 31,465 sq ft currently occupied by North Lanarkshire Council.

Accrue Capital specialises in acquiring and assembling portfolios of assets and implementing business plan strategies to enhance value.

They currently employ a team of eight with over 100 years of combined property experience. The asset management arm of the company has a proven track record in value optimisation and strong tenant relationships with the team’s experience covering all sectors of the property industry.

Accrue adds value to assets under management via lease restructuring, change of use, repositioning, refurbishment, and wholesale development.

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 and from around £5 million and £25 million across the office, retail warehouse, industrial and leisure sectors.

Hugh Fraser, Chief Executive Officer of M7C said:

“This loan, which will help the team at Accrue Capital bring forward the repositioning of their Stretford asset is typical of the types of loans M7 Capital looks to provide.

We believe that the real estate debt market for small to medium size projects is structurally undersupplied, particularly from the larger traditional lenders and presents us with a strong opportunity to help many businesses progress local regeneration projects which result in more modern and greener properties.”

Guy Pearson – Gregory Director at Accrue Capital said:

“The refinance allows us to continue to reposition this portfolio, particularly at Stretford where a planning application for 332 residential units has been submitted.

We look forward to working closely with M7 on this project and into the future, as we look to continue to grow our portfolio.”