Puma Property Finance completes £8.5m PBSA development loan
Puma Property Finance has completed an £8.5 million development loan to finance new purpose-built student accommodation (PBSA) in Brighton. The four-storey new build will provide 71 student beds, organised into 15 studios and 56 ensuite rooms within 4 and 5-bed flats.
The scheme will also be the first private PBSA within walking distance of both the University of Sussex and University of Brighton’s Falmer campuses, with construction expected to complete in 2021.
Reflecting the business’s UK-wide network, this is the fourth PBSA development Puma Property Finance has funded in the past nine months, following three others in Belfast, Colchester and Leicester. This latest development loan sees Puma Property Finance support a highly experienced student accommodation developer who has provided more than 5,000 student beds since 2006.
Kevin Davidson, Director at Puma Property Finance, said of the deal:
“Puma Property Finance are delighted to provide a development facility for a high-quality PBSA scheme to an experienced and successful PBSA developer. We look forward to working with the client on this scheme.
“This is the fourth PBSA scheme Puma Property Finance has provided development finance for in the last nine months and a sector in which we are keen to expand our exposure as we continue to increase our development financing across the UK in 2020.”
Puma Property Finance closed more than £200 million in loans during 2019 and continues to expand its lending activity in both deal volume and size. It delivers development loans from £3 million to £30 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.
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Puma Property Finance delivers development finance to professional developers throughout the UK and across a range of sectors. For more information on any of our lending products, please contact one of our dedicated professionals on 0207 647 8160 or email@example.com