Vermella-Harrison

JLL Arranges $75M Loan for Russo Development’s Vermella Harrison in New Jersey

by Lynn Peisner

HARRISON, N.J. — JLL has arranged a $75 million refinancing loan for Vermella Harrison, a 398-unit community at 1100 Frank E. Rogers Blvd. in Harrison, about 12 miles west of Manhattan. An unnamed life insurance company was the lender, and the borrower was Russo Development. Completed in 2015, Vermella Harrison is a six-story building offering studio, one- and two-bedroom units and a fitness center and yoga studio, bocce ball court, dog run, rooftop terrace, pool and clubhouse. The property is approximately 97 percent occupied and includes five ground-floor retail spaces totaling 15,011 square feet.

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