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JLL’s Debt Advisory and Structured Finance team has advised Maya Capital on the £20M refinancing and CapEx facility from M7 Capital for a portfolio of 5 regional office assets located in the UK
JLL has advised Maya Capital, on the £20M refinancing and CapEx facility for a portfolio of 5 regional office assets located in the UK.
The Portfolio includes 3 freehold and 2 long leasehold assets with a WAULTB of 2.9 years, and WAULTE of 8.3 years.
The three year, £20m senior loan was provided by M7 Capital’s UK debt fund, TREC II and represents an LTV of circa 55%.
The JLL debt placement team representing the borrower was led by Senior Director Claudio V. Sgobba, Associate Hamish Gordon, and Analyst Tarun Mehta.
David Pralong, Managing Partner, Maya Capital, said: “We are glad to have achieved this refinancing with M7 Capital which is well suited to our requirements. This will enable us to proceed with an extensive c.£10m capex program and help us to realise our ESG targets. I can only recommend M7 Capital as a lender”
Hugh Fraser, M7 Capital, said: “This loan is typical of the type of investments we aim to make on behalf of our UK debt fund, allowing us to help property owners such as Maya Capital undertake important capex investment programmes to improve the quality and sustainability of small to medium size regional assets for which there is a structural undersupply of finance available.”
“We are therefore very pleased to back David Pralong and his team at Maya Capital. David has a very specific plan to maximise the value of each asset in the portfolio. We are excited to support him on this repositioning and hope this is the first of many loans between M7 and Maya Capital.”
Claudio V. Sgobba, Senior Director, Debt and Structured Finance, EMEA, JLL, said: “We’re pleased to have supported Maya Capital on securing this financing solution. This transaction further demonstrates the commitment by lenders to support ambitious sponsors when investing in value-add regional office portfolios across the UK. Through a comprehensive financing process, JLL were able to secure the most accretive financing terms in the market to generate superior leveraged returns and refurbishment flexibility for Maya Capital”.
