The capital will enable the business to substantially expand its development lending proposition, offering facilities of up to £50m.
By targeting a wider pool of loans, the business will be looking to support a broader range of professional developers with its tailored, relationship-centred approach.
Puma Property Finance offers first-charge development, pre-development bridging loans and development exit facilities at up to 70% LTV (75% LTV for development exit loans) and 85% LTC for all sectors and regions in the UK.
This marks Puma’s second institutional funding line it has secured, following a £200m agreement with RoundShield Partners in 2018.
Meanwhile, this is Waterfall Asset Management’s first partnership with a development finance platform.
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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.”