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

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.