Puma Property Finance, part of Puma Investments, the development finance specialists, has agreed a £300m institutional funding line, from Waterfall Asset Management.
This new funding line will enable Puma to expand its development lending proposition, with the ability to offer facilities of up to £50m, and work with a wider range of professional developers.
In 2018, Puma secured its first institutional funding line with RoundShield Partners, for £200m.
This will mark the first time that Waterfall Asset Management have partnered with a development finance specialist.
David Kaye, CEO at Puma Property Finance, said: “We are delighted to partner with Waterfall Asset Management.
“This funding line will provide a springboard for the next phase of our growth and reinforces our position as one of the substantial non-bank lenders to the UK development finance market.
“As the mainstream banks continue to eschew much mid-market development lending, we recognise the critical role non-bank lenders play in providing access to capital.
“Borrowers are increasingly looking for lenders who can be flexible and move quickly, as well as bringing a human touch; we seek to address that need.”
James Cuby, managing director at Waterfall Asset Management, commented: “Our decision to partner with Puma Property Finance is testament to the strength of its lending business, the professionalism of its team and its impressive growth trajectory.
“Our businesses share the same refreshing approach to relationship lending and we are delighted to support the Puma team’s expansion plans.”
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Last year, Puma Property Finance completed four development loans in just four weeks, with a total of £70m GDV of projects.