Puma Property Finance
A development lender with a £500m forward-flow joint venture with KKR, writing senior development finance from a £10m own-book floor and pre-development bridging from £3m.
What they do
Puma Property Finance lends from its own balance sheet, an institutional credit fund cornerstoned by Madison with back-leverage from Goldman Sachs, and a forward-flow joint venture with KKR of up to £500m agreed in 2026. Senior development finance runs from around £10m on its own book to £100m on the platform, with a separate pre-development bridge from £3m over terms of up to eighteen months, aimed at funding a site while planning uplift is pursued. Activity covers the UK and Ireland, from London and Manchester to Edinburgh, Oxfordshire and Margate.
Where they fit in a lower-mid-market raise
Pre-development bridging is the accessible product for a lower-mid-market borrower: money against a site while planning is progressed, which very few lenders will provide and which unlocks the value uplift the eventual development facility depends on. Where a scheme grows past £10m, the same house can fund the build.
Where they are not the fit
The own-book development floor of around £10m puts standard lower-mid-market schemes at or under the minimum, and the platform's floor is higher again. Borrowers must be professional developers, the pre-development bridge caps at eighteen months and requires planning uplift as the objective, and there is no mezzanine or second-charge product.
Published terms
- Pricing
- Not publicly disclosed; sustainability-linked fee rebate of 0.5% to 1.0% of drawn loan on repayment for Impact Lending Framework qualifying deals
- Speed to terms
- At least one deal closed within 10 weeks of first meeting (£25m retirement loan, Aug 2026); no formal published timetable published
- Leverage
- Senior to 0.8x, total to 0.8x
- Sponsored or sponsorless
- Corporate/developer-direct. Lends to professional property developers and investors. No sponsor-backed programme identified
- Where they lend
- UK-wide plus Ireland. Confirmed activity: London, Manchester, Edinburgh, Essex, Oxfordshire, Milton Keynes, Margate
- How they decide
- Puma originates, underwrites and manages; KKR an investment committee oversight on JV platform deals. Own-book: internal credit committee. Specific delegation not public
As published by the lender and last reviewed August 2026. Terms quoted on a deal are set by the credit, not by a published band.
The desks that lend
Puma Property Finance lends through 3 separate books. Which one reads a deal decides the security, the covenant package and the band, so the question is rarely whether Puma Property Finance lends, but which of these would own it.
Senior development finance (own book)
- Facility
- £10m to £50m
- Security
- First charge over UK (and Ireland) real estate. loan to value up to 70% (75% for development exit/stabilisation). LTC up to 85%
- Funds
- Growth · Refinance
- Rules out
- Minimum ticket £10m makes sub-£10m deals unlikely; floor may be hard; No second-charge or mezzanine identified; Developer must be experienced/professional
Pre-development bridge finance
- Facility
- £3m to £10m
- Security
- First charge over UK real estate. loan to value up to 70%. Max term 18 months. Purpose: land/site acquisition or refinance ahead of development consent
- Funds
- Growth · Refinance
- Rules out
- Planning uplift must be the objective; Max 18-month term
Senior development finance (KKR JV / PRESC platform)
- Facility
- £20m to £100m
- Security
- First charge. Living sector and selected commercial. Core UK locations
- Funds
- Growth · Refinance
- Rules out
- Floor £20m
How they sit against the category
- Its published ceiling of £100m is among the 5 highest of the 75 property-backed lenders here.
- It starts higher than all but 8 of them, at £3m.
- 65 of the 75 publish an indicative price at all; it is one of them.
Counted across the 75 property-backed lenders in this directory, on what each one publishes. What a lender discloses and what it will do are different things.
Questions this page answers
How large a facility does Puma Property Finance write?
Published facilities run £3m to £100m. Published leverage runs senior to 0.8x, total to 0.8x. A band is what a lender states it will do, not what it will do on a given credit.
How quickly does Puma Property Finance move?
At least one deal closed within 10 weeks of first meeting (£25m retirement loan, Aug 2026); no formal published timetable published. Published timetables describe a clean case; anything unusual in the security or the structure adds to them.
Where does Puma Property Finance lend?
UK-wide plus Ireland. Confirmed activity: London, Manchester, Edinburgh, Essex, Oxfordshire, Milton Keynes, Margate.
On the record
August 2026: £ 25m senior development loan for retirement flats, Essex and Oxfordshire (within 10 weeks of first meeting.
December 2025: PRESC fund first close; £ 150m seed book (BTR, PBSA, care homes in London, Manchester, Edinburgh); Goldman Sachs £ 100m back-leverage.
May 2025: £ 21m development loan to Kier Property for logistics/industrial unit, Milton Keynes (sustainability-linked.
May 2025: Madison International Realty acquires 24.5% stake and cornerstone commits to PRESC fund.
March 2026: £ 500m KKR forward-flow JV announced for UK living sector (BTR, BTS, PBSA), £ 20m-75m tickets.
Sources: pumapropertyfinance.co.uk
This profile is a curated reference note drawn from public sources, not financial advice or a recommendation. Appetite and terms change; a lender's fit for a given credit is established by approaching it, not inferred from a page.