With our tests, we saw no incompatibilities with 4.7.2 and the theme is working perfectly fine with latest version 4.7.2 on on dev as well as our demo site which is currently running 4.7.2. Have absolutely no issues accessing admin pages.
Can you pls rename the theme folder and see if the problem goes away? That way the theme will be deactivated and you may be able to access the admin at least. If you are still not able to access the admin, this could be a plugin issue as well and you need to move all plugins temporarily to another folder to make the admin show up.
If the problem goes away on theme deactivation, we need to know the exact error in the error log. The 4.7.2 is a security maintenance release with no breaking changes and hence I do not anticipate any compatibility issues if you were running 4.7.0 or 4.7.1 earlier.