$75M financing secured for 398-unit multifamily building in Harrison, New Jersey

• JLL Capital Markets secured $75M in financing for Vermella Harrison, a 398-unit apartment building in Harrison, New Jersey
• A correspondent life insurance company provided the five-year loan to Russo at Harrison Urban Renewal, LLC
• Vermella Harrison is positioned in a redeveloped area of Hudson County, New Jersey, with direct PATH connectivity to NYC

MORRISTOWN, N.J., Sept. 10, 2026 –  JLL Capital Markets announced today that it has arranged $75 million in financing for Vermella Harrison, a 398-unit multifamily building in Harrison, New Jersey.

Working on behalf of the borrower, Russo at Harrison Urban Renewal, LLC, JLL placed the five-year loan with a correspondent life insurance company.

Completed in 2015, Vermella Harrison is a six-story apartment building offering studio, one- and two-bedroom units. Unit features include stainless steel appliances, hardwood floors, in-unit washer/dryers, walk-in closets and private balconies in select units. Residents have access to a full amenity package, including a fitness center and yoga studio, bocce court, dog run, rooftop terrace, swimming pool and clubhouse. The property is approximately 97.0% occupied and also includes five ground-floor retail spaces totaling 15,011 square feet.

Vermella Harrison is located at 1100 Frank E Rogers Blvd., just steps from Harrison Station, which provides direct PATH connectivity to NYC with seamless access to Manhattan's financial district and midtown employment centers. Harrison represents one of the most anticipated transit-oriented redevelopment stories in the Northeast, having transformed over the past few years from abandoned rail yards and industrial buildings into a thriving mixed-use community with luxury residential developments. Just across the Passaic River lies Newark's Central Business District, where more than 380,000 people are employed in New Jersey's largest city. Residents benefit from exceptional transit access via the PATH system, along with convenient connectivity to Interstates 95, 280, and 78.

JLL's Capital Markets Debt Advisory 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,” said Didio, Jr.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom. 

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com. 

Founded in 1969, Russo Development is one of New Jersey’s leading multifamily, industrial and data center developers. The company has developed over 6,400 luxury apartments, more than 10 million square feet of premier commercial space and 60 industrial/data center projects.