Banco Inbursa Lends $150M for Philly Resi Tower
By Andrew Coen February 24, 2026 8:00 am
reprints
Brevet Capital Management has landed $150 million of construction financing to build a multifamily tower in Philadelphia, Commercial Observer has learned.
Mexico-based Banco Inbursa provided the loan for Brevet’s planned 620-unit Wharton Piers project in Philadelphia, near where the Delaware River Trail crosses Reed Street. Construction of the 36-story development is slated to commence in the first quarter of 2027 with completion set for early 2029.
“Closing this financing is an important milestone for the development of Wharton Piers and reflects continued momentum behind a project that we believe will be transformational for Philadelphia’s waterfront,” Douglas Monticciolo, CEO and founder of Brevet Capital, said in a statement. The “scale of the site” in a “supply-constrained urban market” makes the project a “compelling development,” he said.
Located just east of Interstate 95 at 341 South Christopher Columbus Boulevard, Wharton Piers will feature 32 floors of residential space, three levels of parking, and 30,800 of ground-floor retail space. The property will also have roughly 15,000 square feet of indoor amenity space that includes a swimming pool with views of Downtown Philadelphia and the nearby Delaware River.
“Wharton Piers represents the first phase of a larger master plan that has the potential to support significant additional development over time,” Mei-Li da Silva Vint, chief commercial officer and head of the real assets group for Brevet Capital, said in a statement.
Banco Inbursa declined to comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
