Puma Property Finance steps in to fund £11.5m GDV care home in Lancashire

The 80-bed, 3-storey care home is due to complete by the end of 2020, with Puma offering to provide a development loan after the client’s existing financing was impacted by Covid-19.

Kevin Davidson, Managing Director at Puma Property Finance said of the loan:

“We were delighted to step in and finance the remaining build period for an existing developer/operator client to add another high-quality care home to their portfolio.

“Puma worked closely on the deal with the client’s advisor, Voltaire Financial, and we were pleased to be able to close this facility in just over four weeks so that development works could continue without interruption.”

Puma Property Finance has funded a number of care home developments across the UK for a variety of clients. The business closed more than £200 million in loans during 2019 and continues to increase its lending activity in both deal volume and size.

It 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.

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