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

David Samuel Properties’ purchase of the Bouverie Place Shopping Centre in Folkestone has been backed by a loan from M7 Capital.

The loan, amounting to £7.4million, has been provided on behalf of M7’s TREC II UK debt fund and is secured against the 263,300 sq ft shopping centre.

Bouverie Place hosts a mixture of national brands including JD Sports, TK Maxx, and Asda. The loan for the acquisition of the shopping centre is one of 24 that M7 have made totalling over £230 million in funding 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, who have received loans from M7 on six different occasions, purchases value add assets and has 150 assets valued at £420m under management across the UK.

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