Term Sheet: Madison acquires Puma stake, Aroundtown buys back bonds, Starwood courts insurers

New York-headquartered investment firm Madison International Realty purchases a quarter-stake in a UK property lender; Frankfurt-listed Aroundtown buys back bonds as it addresses its debt; US manager Starwood aims to provide insurers with access to its real estate debt activities; and more in today's briefing, exclusively for our valued subscribers.