JLL’s Debt Advisory and Structured Finance team has advised Maya Capital
JLL’s Debt Advisory and Structured Finance team has advised Maya Capital on the £20M refinancing and CapEx facility from M7 Capital for a portfolio of 5 regional office assets in the UK
LONDON, 5 April 2022 – JLL has advised Maya Capital, a specialist real estate and private equity investment firm, on the £20M refinancing and CapEx facility for a portfolio of five regional office assets located in the UK.
The Portfolio includes three freehold and two long leasehold assets with a WAULTB of 2.9 years, and WAULTE of 8.3 years.
The three-year, £20 million senior loan was provided by M7 Capital’s UK debt fund, TREC II and represents an LTV of circa 55%.
The JLL debt placement team representing the borrower was led by Senior Director Claudio V. Sgobba, Associate Hamish Gordon, and Analyst Tarun Mehta.
David Pralong, Managing Partner, Maya Capital, said: “We are glad to have achieved this refinancing with M7 Capital which is well suited to our requirements. This will enable us to proceed with an extensive c.£10m capex program and help us to realise our ESG targets. I can only recommend M7 Capital as a lender.”
Hugh Fraser, Chief Executive Officer, M7 Capital, said: “This loan is typical of the type of investments we aim to make on behalf of our UK debt fund, allowing us to help property owners such as Maya Capital undertake important capex investment programmes to improve the quality and sustainability of small to medium size regional assets for which there is a structural undersupply of finance available.”
“We are therefore very pleased to back David Pralong and his team at Maya Capital. David has a very specific plan to maximise the value of each asset in the portfolio. We are excited to support him on this repositioning and hope this is the first of many loans between M7 and Maya Capital.”
Claudio V. Sgobba, Senior Director, Debt and Structured Finance, EMEA, JLL, said: “We’re pleased to have supported Maya Capital in securing this financing solution. This transaction further demonstrates the commitment by lenders to support ambitious sponsors when investing in value-add regional office portfolios across the UK. Through a comprehensive financing process, JLL were able to secure the most accretive financing terms in the market to generate superior leveraged returns and refurbishment flexibility for Maya Capital.”
About Maya Capital
Maya Capital is a European real estate investment firm that elaborates niche investment strategies for its investors. Maya Capital has an entrepreneurial and hands-on approach, driven directly by the strong involvement of its principals. Over the last few years, Maya has deployed c.£300m of capital in UK and c.€65m in Portugal. Maya focuses on sophisticated strategies and value creating initiatives, including asset repositioning, financial structuring, and intensive asset and property management. Maya seeks opportunities resulting from special situations such as short leases, capex intensive assets or time constrained purchases.
About M7 Capital
M7 Capital is a full-service real estate debt specialist platform in the pan-European, regional, multi-let real estate market offering business lines including capital markets, lending, loan servicing, strategic advisory and workout solutions. Prior to M7 Capital’s launch, since 2009, the team operated exclusively as internal advisor to M7 Real Estate for all its debt capital market needs.
Over the next three to five years M7 Capital intends to continue to closely support the M7 business in all its debt capital market needs as well as to significantly grow UK funds and look to expand into Europe. In addition, M7 Capital will focus on growing its external market presence across all business lines with external partners.
For more information
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.