M7 fund provides loan to support acquisition of shopping cent in Kent

M7 Capital (M7C) has provided, on behalf of its U.K. debt fund TREC II, a £7.4 million (€8.4 million/$9.0 million) loan to David Samuel Properties Limited.

The loan is secured against Bouverie Place shopping center, located in the coastal town of Folkestone in Kent and comprising multiple units that extend to a total of 260,300 square feet. The asset is 100 percent let to a mixture of national brands such as TK Maxx, JD Sports and Asda.

David Samuel Properties, the purchaser, is a specialist purchaser of commercial real estate assets across the United Kingdom with current assets under management in excess of £420 million (€477 million/$513 million).  David Samuel Properties actively purchases value-add assets across various sectors and enhances returns to its investor base through high-quality asset management. Its current assets under management comprises 150+ locations with more than 800 tenants. This is the sixth loan M7 Capital has provided David Samuels P