Brevet Capital Secures $150 Million Financing to Anchor Philadelphia Waterfront Transformation

Brevet Capital secures a $150M construction loan from Banco Inbursa for Wharton Piers, a 36 story residential tower poised to transform the South Philly waterfront.

By: AXL Media

Published: Mar 11, 2026, 4:14 AM EDT

Source: https://www.multihousingnews.com/

Capital Injection for a Landmark Waterfront Asset

The $150 million loan serves as a critical catalyst for the 684,600 square foot project, known as Building A. Located at 1341 S. Christopher Columbus Blvd., the development is scheduled to break ground in the first quarter of 2027. The financial backing from Banco Inbursa allows Brevet to move forward with a 620 unit tower and an adjacent 30,800 square foot commercial component. This funding reflects a stabilizing credit market where alternative lenders and international banks are stepping in to support high density, transit oriented urban projects that meet stringent environmental and social criteria.

Architectural Scale and Residential Composition

Designed by Perkins Eastman, the tower will soar 380 feet, comprising 32 floors of residential space over a podium that includes retail and parking. The unit mix is strategically skewed toward smaller footprints to address urban demand, with 50 percent designated as one bedroom apartments and 35 percent as studios. Residents will have access to 30,000 square feet of split indoor and outdoor amenities, featuring a swimming pool with unobstructed views of the Delaware River and the Philadelphia skyline. The site plan also incorporates 287 parking spaces divided between an integrated garage and a surface lot.

Infrastructure Concessions and Public Integration

A defining characteristic of the Wharton Piers project is its integration with the public realm. To secure zoning variances for increased density and height, Brevet Capital committed to significant infrastructure improvements across the 8.5 acre site. These include the development of a public esplanade, landscaped open spaces, and walking trails that extend onto two piers reaching into the Delaware River. Additionally, the developer will contribute to the city’s Housing Trust Fund, a standard requirement in Philadelphia for projects seeking to bypass traditional height limitations while supporting local affordable housing initiatives.