Brevet Capital, a finance provider focused on the government sector, completed a $212 million term loan facility for Manchester Financial Group, a San Diego-based hotel and commercial real estate developer, to support the development of the U.S. Navy’s Region Southwest headquarters.
Proceeds of the loan were used to finance the development and construction costs of the U.S. Navy’s Region Southwest leadquarters located at Manchester Pacific Gateway, a three million-square-foot mixed-use development with office, hotel and retail accommodations.
“This successful transaction reflects Brevet’s commitment to investing in critical infrastructure projects and serving as a partner of choice for leading government agencies, counterparties, and contractors,” Doug Monticciolo, CEO, CIO and co-founder of Brevet Capital, said. “We believe this will be an incredible facility that will serve the Navy and the surrounding San Diego community for generations.”
“Highly complex transactions involving government agencies and unique underwriting capabilities are the hallmark of our firm, and reflect Brevet’s commitment to creativity, collaboration and execution. We are pleased to have achieved a successful outcome for our investors, partners and counterparties, and look forward to working with the Manchester Financial Group team on exciting future projects,” Abteen Vaziri, managing director at Brevet Capital, said.
