Brevet Capital Realizes $42 Million Loan to Support Construction of The Joseph, an Award-Winning Boutique Luxury Hotel, Located in Downtown Nashville

Represents Brevet Capital’s Fifth Successfully Repaid Loan Under EB-5 Immigrant Investor Program that Fosters Local Economic Growth and Job Creation

NEW YORK--(BUSINESS WIRE)--Brevet Capital, a leading credit investment and specialty finance firm, today announced the successful completion of a $42 million mezzanine loan provided to an affiliate of the Pizzuti Companies, a family-owned and operated organization that specializes in hospitality and industrial real estate development, marketing, and management. Proceeds from the loan were used to finance a portion of the $167.2 million construction and development costs of The Joseph, a Luxury Collection Hotel located in downtown Nashville, TN.

The Joseph hotel project was funded by Brevet Capital utilizing the EB-5 Immigrant Investor Program, which created more than 3,100 jobs for the local region and community. Brevet Capital and its EB-5 affiliates played a pivotal role in overseeing the capital raise, which served as a strategic investment into the project. By providing bridge financing, Brevet Capital’s approach provided certainty of execution for all stakeholders.

Doug Monticciolo, Chief Executive Officer and Co-Founder of Brevet Capital, commented, “Brevet Capital looks for exceptional investment opportunities that are supported by our rigorous diligence and underwriting capabilities and draws from multiple demographic data inputs. To that end, Nashville is one of the top hospitality markets in the country and continues to attract major technology, finance, manufacturing, and e-commerce businesses to the region. Accordingly, the demand for high-quality hotels and experiences remains strong and we are pleased to have supported the development of The Joseph, an award-winning hotel ideally situated in downtown Nashville.”

Abteen Vaziri, Managing Director of Brevet Capital, added, “This investment represents another successful instance of Brevet Capital leveraging the EB-5 investor program, our fifth such loan, further exemplifying our commitment to fostering economic growth and job creation through complex, community-enhancing projects. That three of the five EB-5 loans on which we have been repaid in full were related to hotel projects going into the pandemic, among the worst hotel market environments ever, reflects our disciplined and collaborative investment approach, focus on strong borrower relationships, and stringent underwriting standards. As such, we were thrilled to support the Pizzuti Companies, a local real estate owner, operator, and developer with deep ties to the Nashville community to help meaningfully expand Nashville’s hospitality offerings.”

The Joseph, which was named Travel + Leisure’s “Readers’ Choice for Best Nashville Hotel" in 2022, contains 297 guestrooms, as well as an upscale restaurant and bar, state-of-the-art fitness center and spa, gift shop, 13,305 square feet of meeting space, and a rooftop pool and lounge located 21 stories above the city. Its signature fine dining restaurant, the Italian-inspired Yolan, is directed by James Beard Award winner and Michelin-starred chef, Tony Mantuano.

The EB-5 program was created by the U.S. government in 1990 to stimulate economic growth and generate employment opportunities for U.S. workers. Under the program, foreign investors are required to make a minimum investment in a qualifying U.S. commercial enterprise and create a certain number of jobs for U.S. workers within a specified timeframe.

In April 2022, Brevet Capital announced it successfully realized a loan to support the construction of the JW Marriott Bonnet Creek in Orlando, FL, which was funded in part by utilizing the EB-5 program. The project created approximately 5,000 jobs for the local region and community and brought tens of millions of dollars in foreign direct investment to the Orlando market.

About Brevet Capital

Headquartered in New York, Brevet Capital applies a specialty finance strategy that emphasizes downside protection. Focusing on opportunities related to the government sector, Brevet Capital originates and structures customized financing solutions that facilitate borrower growth initiatives. Since its inception, Brevet Capital has advised and structured over $20 billion of transactions. Brevet Capital has a 20-year track record of partnering with U.S. state, federal, and international government agencies to provide unique financing solutions. For more information, please visit www.brevetcapital.com.