US-based real estate PE firm, Madison International Realty, has taken a 24.5% stake in Puma Property Finance.

Alongside the stake, Madison has made a commitment to underpin the launch of Puma’s new institutional credit fund series.

Mo Saraiya, Madison’s managing director and head of its growth platform investment strategy, will join Puma’s board.

This builds upon Puma’s previous £500m institutional funding platform.

Puma has, to date, supported over £2.5 billion of developments, with a flexible mandate that allows it to provide loans across a broad range of asset classes and to all geographies of the United Kingdom.

Recent education investments include a £52m facility to fund a new PBSA development in Edinburgh.

The deal will enable Puma to expand its range of lending products, including increasing its maximum development loan size from £50m to £100m and expanding its provision of standalone stabilisation loans for operational real estate assets.

Puma was advised by Ashcombe Advisers LLP (corporate finance), Bryan Cave Leighton Paisner LLP (legal advice), and Deloitte LLP (financial/tax advice).

Madison was advised by Jones Day (legal advice), E&Y (financial/tax advice), Howden (insurance advice), and Kroll (operational due diligence).