Puma Property Finance continues strong development lending activity, completing £70m in December
Puma Property Finance has finished a strong year of development lending, despite the pandemic, by completing four new loan facilities in December totalling £70 million. Building on its sustained activity throughout 2020 and committed approach to relationship lending, these loans reflect the experienced team’s aptitude for achieving swift completion times and funding across multiple sectors throughout the UK.
Puma is a multi-sector development lender seeking to partner with professional developers across the UK and the four loans completed in December reflect that multi-sector approach.
The recent transactions include Puma Property Finance’s first development loan in the build-to-rent sector, funding the construction of a 200-unit scheme in a major regional centre.
In addition, the business completed a £13.5 million loan to fund the construction of a retail park in Hampshire, comprising two pre-let retail warehouses which have been pre-sold to an institutional fund. The loan will also finance construction of four further industrial units in the same location.
Puma also completed a £13 million loan to fund a student accommodation development, located just 0.5 miles from the University of Brighton campus. The 99-unit building is the sixth student accommodation scheme the business has financed in the past 18 months, providing over 1,000 new beds.
Finally, its fourth loan facility comprised an £8.5 million development loan for a 60-bed care home in Wilmslow, Cheshire – Puma Property Finance’s fifth loan to the same experienced developer. As a relationship lender, the business is often able to support developers on multiple projects.
David Kaye, CEO of Puma Property Finance, commented:
“We are delighted to have completed these loans which reflect our ability to lend across different sectors and throughout the UK, which is a testament to our dedicated team especially given the challenges presented by the pandemic.
“Having closed out another successful year of substantial growth in the Puma Property Finance business, our experienced team look forward with optimism to the light at the end of the pandemic tunnel and to continuing to support professional developers across the UK in 2021.”
Puma Property Finance delivers development loans from £5 million to £35 million to finance residential, commercial and specialist sector projects such as hotels, student accommodation and healthcare, including care homes and retirement living. The business offers three core loan products: stretch senior development loans; pre-development bridge finance for site acquisition; and post-development exit finance.