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Florham Park company arranges $51.5M in financing for Lyndhurst apartment complex

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The Vermella Lyndhurst complex.
The Vermella Lyndhurst complex. - (HFF)

A Florham Park-based commercial real estate services company announced Tuesday that it had arranged $51.5 million worth of financing for a Lyndhurst multihousing community.

HFF secured a fixed-rate loan on behalf of Russo Development in order to replace existing construction debt and provide long-term financing, it said in a news release.

The Vermella Lyndhurst complex features 296 luxury apartment units and was completed early in 2014.

Senior Managing Director Thomas Didio and Associate Director Michael Lachs led the HFF team that represented the borrower.

“HFF is very pleased to have assisted Russo Development in securing financing for this Class A multihousing property,” Didio said in the release.  “This property is by far the highest quality residential complex in the area.”

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Eric Strauss

Eric Strauss

Eric Strauss is the digital content editor for NJBIZ. He has been a reporter and editor for newspapers in New Jersey and Pennsylvania, as well as for a number of websites. You can contact him at erics@njbiz.com or @acerimrat on Twitter.

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