$66.85M construction loan arranged for Plaza Greene, Fair Lawn's new transit-oriented 55+ luxury rental community

MORRISTOWN, N.J., Aug. 5, 2026 –  JLL Capital Markets announced today that it has secured a $66.85 million construction loan for Plaza Greene, a 145-unit luxury age-restricted apartment community with ground-floor retail in Fair Lawn, New Jersey.

JLL represented the borrower, a joint venture between Sterling Properties and Danbro Properties, in arranging construction financing provided by PCCP and U.S. Bank.

Plaza Greene will set a new standard for 55-and-over living in Bergen County. Steps from the Radburn Train Station and downtown Fair Lawn's shops and restaurants, this four-story mixed-use development pairs 145 luxury market-rate and affordable apartments with 24,035 square feet of retail — anchored by a 22,340-square-foot Sprouts Farmers Market at the doorstep. Residents will enjoy boutique hotel-style amenities including a clubroom, fitness and yoga studios, a private dining room and a landscaped entertainment courtyard, all within one of the county's most walkable settings.

Downsizing homeowners are driving unmet demand for high-quality active-adult luxury rentals. Plaza Greene will address that gap, offering active adults an option to stay close to family or relocate from New York City while maintaining urban convenience without giving up suburban quiet and pace of life.

JLL Capital Market’s Debt Advisory team was led by Senior Managing Directors Jim Cadranell and Jon Mikula, Vice President Michael Lachs and Analyst Kevin Badger. 

"Plaza Greene fills a critical void in Bergen County's rental market by delivering institutional-quality, age-restricted housing in a transit-oriented location, where residents have the convenience of garage parking or don't need a car at all," said Cadranell. "The combination of Sprouts Farmers Market, luxury apartments, immediate train access and Fair Lawn's strong demographics created a compelling story for lenders seeking well-located mixed-use construction opportunities."

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.

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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.