Real Estate Journal — Financial Digest — September 16 - 29, 2016 — 11A
www.marejournal.com
M id A tlantic
F inancial D igest
Thomas Didio represents the borrower, Russo Development HFF secures $73m financing for class A multi-housing community in Harrison, NJ
ARRISON, NJ — Holliday Fenoglio Fowler, LP (HFF) announced that it has secured $73 million in fi- nancing for V e r m e l l a H a r r i s o n , a 398-unit, class A, mid- rise multi- housing community in Har- rison. HFF worked on behalf of the borrower, Russo Develop- ment (Russo) , to place the 10- year, fixed-rate loan through John Hancock Real Estate Finance Group . Vermella Harrison is located at 1100 Frank E. Rodgers Blvd. South in Harrison’s wa- terfront redevelopment area, also known as the Riverbend District. Situated on a three- acre site, the transit-oriented property is 800 feet from the Harrison PATH station, ap- proximately six miles north of Newark Liberty Interna- tional Airport and convenient to Interstates 280, 78 and 95 providing access around H Thomas Didio Applied Bank announces Carmen Facciolo Jr. as new director WILMINGTON, DE — Applied Bank announced the appointment of Carmen Estate Services, Inc. and vice president of Emory Hill & Company , the construc- tion division. Carmen has also served as NAI director for Em- ory Hill Real Estate Services since the company’s affiliation with NAI Global in 1997. “Carmen’s vast experience in real estate and construc- tion will add a valuable per- spective to the Bank and our Board of Directors,” said Applied Bank chairman and CEO Rocco Abessinio . “His extensive knowledge will be very beneficial to the further growth of the Bank’s real es- tate and construction financ- ing divisions.” n Carmen Facciolo Facciolo Jr. t o App l i ed Bank’s board of directors. C a r m e n c u r r e n t l y serves as the president of NAI Emory Hi l l Rea l
Additionally, a 4,000 s/f ame- nity center is located adjacent to the main lobby and features a clubroom, conference room, bar and pool tables. The HFF debt placement team representing the borrow- er was led by senior managing director Thomas Didio . “The ability to lease this property as quickly as Russo did is a testament to both the quality of the asset and its proximity to New York City train access,” said Didio. “HFF is pleased to have helped Rus- so Development secure a long- term permanent loan for such a first-class development.” n
northern New Jersey and into Manhattan. The five- story property has 120 stu- dio, 260 one-bedroom and 18 two-bedroom units averaging 717 s/f surrounding a central parking structure, which al- lows residents direct access to each floor of the property. Community amenities include a 3,500 s/f fitness center with yoga studio; outdoor heated swimming pool; bocce ball court; putting green; rooftop dog run; rooftop terrace with pergolas, fireplace and grilling stations; large courtyards; con- cierge service; and personal storage lockers on each floor.
Vermella Harrison
Made with FlippingBook HTML5