JLL Capital Markets announced that it has arranged the successful financing of 619 North Maple Avenue, a newly delivered 67-unit luxury apartment complex in Ho-Ho-Kus, New Jersey.
JLL worked on behalf of the borrowers, Vertical Realty Capital and Maybern Realty in securing the seven-year, fixed-rate loan through a life insurance company.
619 North Maple Avenue, located in Ho-Ho-Kus, Bergen County, represents a best-in-class transit-oriented multifamily property differentiated by elite unit finishes and abundant community amenities. The development is strategically positioned just a quarter mile from NJ Transit’s Ho-Ho-Kus Station, providing access to New York’s Penn Station via a 50-minute train ride.
Ho-Ho-Kus is one of New Jersey’s wealthiest municipalities, reporting an average household income of $318,020 and an average home value of over $1 million in 2024. The borough benefits from its prime location in the center of Bergen County, where residents can utilize the county’s extensive highway and public transportation infrastructure including close access to the Garden State Pkwy., I-287, Rte-17 and Rte-208.
Community amenities include a state-of-the-art fitness center, all-sport simulator, resident lounge, rooftop lounge with BBQ grill and firepit and pet spa. The property also features 111 covered parking spaces with EV charging stations and a 3,500 square foot ground floor commercial suite leased to Harley Street Medical.
JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Jon Mikula, Senior Director Max Custer and Analyst Michael Donohoe.
“The successful arrangement of permanent financing for 619 North underscores the continued strength of the Northern New Jersey multifamily market,” said Mikula. “The property’s ultra high-end design and amenity package coupled with the property’s transit-oriented location in one of Bergen County’s most affluent communities made this an extremely attractive financing opportunity amongst the lending community.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
