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Alternative Assets  + Real Estate  |  March 10, 2026
Caldera Arranges $150M Construction Loan for Philadelphia Multifamily Tower
Joe Palmisano
By: Joe Palmisano

Caldera Arranges $150M Construction Loan for Philadelphia Multifamily Tower

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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Caldera Real Estate VenturesBrevet Capital Management

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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