“I've known Billy for nearly 15 years and I've never seen him lose money,” says Arman. “He and his team have a real acumen for real estate and rather than rushing to deploy capital when they have it, they select deals very carefully. That's what produces results. At the same time, the firm is highly entrepreneurial and incredibly nimble. We can act very quickly on the right deal and even if it's outside our funding range, we can play the advisory role. As CFO, I intend to nurture that entrepreneurial spirit while adding the structure a rapidly growing company needs.”

Arman also says Procida's 100 Mile Fund is in a unique position to succeed given the current lending environment.

“Institutions and banks are simply not lending in the $3 million to $20 million range to the type of product we are targeting,” he says. “The regulatory environment, essentially, prevents it. That creates a market need that we are fulfilling.”

Before joining Procida, Arman was CFO for Hudson Realty Capital, a fund manager with more than $3.5 billion in assets under management. Before that, he was a vice president at Credit Suisse First Boston and a member of its Portfolio Bids Group where he was responsible for financial reporting, integrating information with internal support departments, maintaining third party vendor relationships with servicers, accountants, and insurers and performing asset management duties. Before joining CSFB in 1998, Arman was a Portfolio Financial Manager for the J. E. Robert Companies, where he supervised accounting, servicing and financial reporting for institutions. He began his career in the audit group of Deloitte & Touche. Arman holds an MBA from the University of Connecticut and a BBA from Iona College. He is a Certified Public Accountant and a member of the AICPA.