M7 Capital funds Kent shopping centre acquisition with £7.4m loan

M7 Capital has provided a loan to back David Samuel Properties’ purchase of the Bouverie Place Shopping Centre in Folkestone, Kent. The £7.4m loan, provided on behalf of its UK debt fund TREC II, is secured against the shopping centre, which comprises 260,300 sq ft let to tenants including TK Maxx, JD Sports, and Asda. TREC II has now deployed more than £230m across 24 different loans in line with its strategy of providing loans of up to 70% LTV between £5m and £25m across the office, retail warehouse, industrial and leisure sectors. M7 Capital chief executive Hugh Fraser 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 purchases value add assets and has 150 assets valued at £420m under management across the UK. This is the sixth loan M7 Capital has provided David Samuels Properties. See more investment information in Kent>> To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews Photo @ Steve Richards/Shutterstock