M7 CAPITAL PROVIDES £16.3 MILLION LOAN TO SUPPORT ACQUISITION OF THREE RETAIL ASSETS IN ENGLAND, SCOTLAND AND WALES
M7 Capital has loaned around £16.3m to Willow Nominees to fund its deal to acquire two retail parks and a shopping centre in England, Scotland and Wales.
The debt specialist completed the loan on behalf its UK debt fund TREC II. The facility is secured against three properties located in Manchester, Inverurie and Wrexham, which are managed by David Samuel Properties.
Combined, the properties total around 220,700 sq ft. They are fully let to a mix of national brands and local businesses.
The deal marks the fifth loan between David Samuels Properties and M7 Capital, with other assets located in Southeast England, Scotland and Northern Ireland. David Samuels specialises in purchasing value-add assets across various sectors and generating returns through asset management.
Hugh Fraser, chief executive of M7C, said: “This loan builds on our existing relationship with David Samuel Properties, an established business with a hands-on approach to asset management and generating value. This loan is secured against three fully let retail assets in strong catchment areas, which offer modern space to a strong line up of occupiers.”
Andrew Berkeley, managing director at David Samuel Properties, said: “As always we are grateful to the M7 team and our finance broker, GDP Funding, for their professionalism throughout the transaction and look forward to expanding our relationship on future deals.”