Puma Property Finance funds £65m GDV residential housing development in North West London
Puma Property Finance (PPF) today announces it has provided funding to finance a £65m GDV, 26-storey residential apartment block in Stonebridge Park, North West London.
The development will create 141 apartments over the next three years, of which 56 will be affordable housing. The project is being developed by a joint venture featuring Latimer Developments, the development arm of the UK’s largest provider of social housing, Clarion Housing Group, together with developers Londonewcastle and Cervidae, and aims to address the acute housing shortage in the capital.
The development will transform currently derelict office site and is part of the wider regeneration of the Stonebridge Park area. The apartments are being developed with sustainability credentials front of mind, including a zero-carbon target and enhancing biodiversity through new habitat creation.
Puma Property Finance offers capital and expertise to experienced property professionals across all sectors and locations. In addition to financing residential and commercial developments, Puma Property Finance has a strong track record funding essential social infrastructure from care homes to retirement living and student accommodation. The alternative lender offers fixed rate loans, providing long-term certainty amid rising interest rates.
The development also marks Puma Property Finance’s first loan from its funding line with Waterfall Asset Management – a £300 million facility secured earlier this year. The funding is attractively priced, allowing Puma Property Finance to provide increasingly competitive rates to prospective borrowers.