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Douglas Monticciolo Of Brevet Capital Secures $150 Million Loan From Banco Inbursa For Philadelphia Development Site

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FINANCED
$150,000,000

Pennsylvania

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Development Site
Financed 02/24/2026
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Property Image
FINANCED

Douglas Monticciolo Of Brevet Capital Secures $150 Million Loan From Banco Inbursa For Philadelphia Development Site

341 South Christopher Columbus Boulevard

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Development Site
Financed 02/24/2026
the dealplayerscompscontact
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Summary

PENNSYLVANIA
Asset Type:Development Site
Transaction Type:Loan

The asset involved in this transaction is a development site located at 341 South Christopher Columbus Boulevard in Philadelphia. The property is set for construction of a multifamily tower, specifically the 36-story, 620-unit Wharton Piers. The project is part of a waterfront development plan along the Delaware River.

Summary of transation details:

  • Property Type: Development Site
  • Transaction Amount: $150,000,000
  • Lender: Banco Inbursa
  • Landlord: Douglas Monticciolo - Brevet Capital
  • Loan Type: Construction
  • Expected Construction Start: 2027
  • Expected Completion: 2029

Key individuals involved in the transaction include CEO Douglas Monticciolo, who represents Brevet Capital Management. The firm has secured the construction loan to finance the project, which will include retail, parking, and amenity spaces as part of its comprehensive development strategy.

Players

Banco Inbursa
Banco Inbursa
LENDER
Douglas Monticciolo
Brevet Capital
Douglas Monticciolo
1 deal$150M volume
LANDLORD

Details

FINANCED
IMAGE: Douglas Monticciolo DATE: 02/24/2026 ADDRESS: 341 South Christopher Columbus Boulevard MARKET: Philadelphia ASSET TYPE: Development Site LENDER: Banco Inbursa (@Inbursa) LANDLORD: Douglas Monticciolo - Brevet Capital LOAN AMOUNT: $150,000,000 LOAN TYPE: Construction NOTE: Brevet Capital Management secured a $150 million construction loan from Banco Inbursa to build the 36-story, 620-unit Wharton Piers multifamily tower in Philadelphia, with construction expected to start in 2027 and finish in 2029.The waterfront project, led by CEO Douglas Monticciolo, will include retail, parking, and amenity space along the Delaware River as part of a larger master development plan.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$150,000,000.00

Monthly NOI$1,000,000.00
Monthly Debt Service$948,102.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00