Caldera Real Estate Ventures has closed a $150 million senior construction loan for Brevet Capital Management to support the development of a 36-story residential tower and adjacent commercial building at the Wharton Piers site in Philadelphia.
The financing was provided by Banco Inbursa, a Mexico City-based financial institution that has been expanding its presence in construction and refinancing transactions across major U.S. markets.
The development is expected to deliver approximately 620 market-rate apartments along with nearly 30,800 square feet of ground-floor retail space, adding both residential and commercial capacity to the surrounding neighborhood.
“Our approach centers on building long-term partnerships — investing significant time understanding each client’s goals and delivering customized solutions designed to achieve the best risk-adjusted outcomes,” said Can (Jon) Tavsanoglu, Founder and CIO of Caldera.
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