Russo Development Secures $90 Million Loan For Multifamily Property On Vermella Way

A seven-year, $90,000,000 loan has been secured for the multifamily property located at 4 Vermella Way in Union. The property consists of 309 units and is owned by Russo Development. The transaction was facilitated by brokers Gretchen Wilcox and David Fryer from G.S. Wilcox & Co.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $90,000,000
• Units: 309
• Address: 4 Vermella Way
• Market: Union

Gretchen Wilcox and David Fryer from G.S. Wilcox & Co played a key role in the loan transaction. They represented the buyer and facilitated the seven-year loan agreement. The involvement of these brokers highlights their expertise in the Union market and their ability to successfully secure significant financing for multifamily properties.