Charles Russell Speechlys advises Puma Property Finance on a £8.5m development loan to fund purpose-built student accommodation (PBSA) in Brighton
Charles Russell Speechlys has advised Puma Property Finance, a company that has been providing finance to professional property developers around the UK and across multiple sectors for more than 30 years, on a £8.5 million loan to finance purpose-built student accommodation (PBSA) in Brighton. This transaction further builds on Puma Property Finance’s activity in the PBSA sector.
Puma Properties Finance has a track record of more than £400m of real estate loans and construction projects to date. With a wide cross sector experience they offer development loans, pre-development bridges and development exit loans.
Kevin Davidson, Managing Director of Puma Property Finance, who led the transaction commented: "We are delighted to have closed another PBSA development financing and have the experienced team at CRS working with us on what was a complex acquisition structure."
Banking & Finance partner at Charles Russell Speechlys, Danny Sullivan commented: "We are seeing high levels of activity in the PBSA sector and we are very pleased to continue to support the Puma team on their successful financings across a range of sectors.”
The Charles Russell Speechlys team, led by Danny Sullivan, also comprised Senior Banking & Finance Associate Susan Mitchell, Construction Partner James Worthington and Senior Real Estate Associate Eddie Richards.