M7 Real Estate has agreed a €143.4m (£121.4m) senior debt facility with Bank of America Merrill Lynch secured on the portfolio of 53 assets in Finland, Germany and the Netherlands.
The properties were bought by M7 European Real Estate Investment Partners IV in October 2016. The facility has a 65% LTV and an initial three-year term.
BofAML first provided debt facilities to M7 in December 2014 and has now completed four separate financings totalling circa €425m.
M7 chief executive Richard Croft said, “Having put our first tranche of investor capital to work in October, this agreement with BofAML allows us to continue to use EREIP IV’s capital to the full advantage of our investors. We will now look to deploy this capital into attractive investment opportunities via our pan-European platform.”
M7 was advised by Goodwin Law, BofAML was advised by Paul Hastings. The loan will be serviced by Situs.
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