M7 Capital has provided a €8.4m (£7.4m) loan to David Samuel Properties Limited. The loan is secured against Bouverie Place shopping centre located in the coastal town of Folkestone in Kent comprising multiple units that extend to a total of 260,300ft². The asset is 100% let to a mixture of national brands such as TK Maxx, JD Sports, and Asda.
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 over 150 locations with over 800 tenants. This is the sixth loan M7 Capital has provided David Samuels Properties, with a diverse mix of other assets located in England, Scotland, Wales and Northern Ireland.
Hugh Fraser, Chief Executive Officer of M7C 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 has a significant track record in the value-add space with a proactive approach to asset management, and we are pleased to be supporting this acquisition and growing our activity with them.”
Andrew Berkeley Managing Director at David Samuel Properties said: “We are delighted to completed on this purchase and to have successfully concluded another transaction with M7. As always, we are grateful to the M7 team and our finance broker, GDP Funding, for their professionalism thought the transaction and look forward to expanding our relationship on future deals."