JLL Capital Markets announced the successful arrangement of $75 million in financing for Vermella Harrison, a 398-unit multifamily property situated in the transit-oriented Hudson County submarket.
Working on behalf of the borrower, Russo at Harrison Urban Renewal, LLC, the JLL Debt Advisory team placed the five-year loan with a correspondent life insurance company. The transaction highlights continued strong institutional appetite for well-located suburban multifamily assets near major metropolitan hubs.
Completed in 2015, Vermella Harrison is a six-story residential building located at 1100 Frank E Rogers Blvd. The property offers studio, one- and two-bedroom floor plans equipped with modern amenities such as stainless steel appliances, hardwood floors, in-unit laundry, walk-in closets, and private balconies in select units. Resident amenities include a fitness center, yoga studio, bocce court, dog run, rooftop terrace, swimming pool, and clubhouse. Additionally, the asset features 15,011 square feet of ground-floor retail space and maintains a robust occupancy rate of approximately 97%.
Positioned just steps from the Harrison PATH station, the property provides direct, rapid transit access to Manhattan’s financial district and midtown employment centers. The surrounding area represents a major regional transformation, having evolved from industrial railyards into a dense, mixed-use community. Residents also benefit from immediate proximity to Newark’s Central Business District and regional transit arteries, including Interstates 95, 280, and 78.
The JLL Capital Markets team representing the borrower was led by Senior Managing Directors Thomas Didio and Thomas E. Didio Jr., Senior Director Gerard Quinn, and Senior Analyst Tyler Caricato.
“We had strong lender interest in the offering given the strength of the borrower, the quality of the property and the exceptional location in a growing submarket outside NYC,” Thomas E. Didio Jr. said.
