June 9, 2020
JLL Capital Markets arranged $48.75 million in financing for the development of Print House by Vermella, a 271-unit luxury apartment building in Hackensack, NJ. The firm’s Thomas Didio, Jon Mikula, Michael Klein and Andrew Zilenziger worked on behalf of a joint venture between Russo Development, The Hampshire Companies and Fourth Edition, to secure the 60-month, floating-rate construction loan through a national bank.
“We are pleased to help the Russo/Hampshire/Fourth Edition joint venture secure construction financing for the Print House by Vermella project on River Road,” Didio said. “The bank did a terrific job committing and closing the loan in a very difficult market.”
Print House by Vermella will be situated at 150 River St. near downtown Hackensack and the Bergen County Courthouse. The transit-oriented development will also be near the NJ Transit Hackensack Bus terminal and within five minutes of two NJ Transit stations, with convenient access to Interstate 80.
Be sure to register for the Connect National Multifamily Update – June webinar, coming up on Thursday, June 11.
For comments, questions or concerns, please contact Paul Bubny