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JLL Secures Construction Debt for Hampshire Cos. JV
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.
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