This post first appeared at Puma Investments.
Puma Investments has secured a new funding line of up to £200 million from funds advised by RoundShield Partners LLP (“RoundShield”) and affiliates for deployment in its property finance division, Puma Property Finance Limited.
Puma Property Finance Limited arranges first charge secured lending to UK property developers, funding projects across the UK with loans of between £3 million and £30 million. As well as backing professional developers of residential schemes, it has significant experience in specialist sectors, including hotels and leisure, retirement living, care homes and supported living units.
The property finance division offers three core loan products: stretch senior development loans; pre-development bridge finance for site acquisition; and post-development exit finance.
Puma Investments advises Puma Heritage plc on the deployment of the funds it raises from private client investors into UK development loans. The addition of this institutional commitment from RoundShield enables the property finance division to continue to respond to the significant demand it is seeing for development finance on competitive terms and will enable the business to invest in its infrastructure, including its high-quality, experienced lending team.
For its role in originating, executing and managing loans Puma Property Finance Limited will receive management and transactional related fees on loans executed over a four-year period. As part of the arrangements, the progressive deployment of the funding line will entitle RoundShield to acquire a stake of up to 25%. In addition, RoundShield may be entitled to additional payments on exit, dependent on the returns achieved by it during the life of the transaction. Driss Benkirane and Max Leeb, Managing Partner and Director of RoundShield respectively, will join the board of Puma Property Finance Ltd.
Commenting on the new funding line, David Kaye, Chief Executive of Puma, said:
“We are delighted to have secured a significant funding line for our property finance activities. There are many high-quality real estate opportunities across the UK unable to access financing from traditional sources. This new partnership with the excellent team at RoundShield will enable us to continue to scale-up our activities with experienced developers to deliver both residential schemes and projects in specialist sectors including hotels, retirement living, student accommodation and care homes.”
For more information on Puma Property Finance, visit www.pumapropertyfinance.co.uk
About Harrison Street Asset Management
Harrison Street Asset Management is a leading global alternative investment management firm with $109 billion in assets under management across real estate, infrastructure, and credit strategies. Headquartered in Chicago, Toronto, and London with over 600 employees in offices across North America, Europe, Asia and the Middle East, the firm offers innovative solutions across a variety of closed-end, open-end and specialized vehicles on behalf of over 1,100 institutional investors and over 300 Registered Investment Advisors.1
1HSAM data and descriptions of HSAM’s business are generally comprised of the aggregated data and business activities of investment advisors that are owned in whole or in part by HSAM. Assets under management (“AUM”) reflects the AUM for the investment advisory and asset management clients of such investment advisors and is inclusive of the regulatory AUM of such investment advisors as would be reported in their respective Form ADVs.
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