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Crowdfunding: The Good, the Bad and the Ugly

William "Billy" Procida knows the market from both sides, as a developer/builder, and as a provider of investment financing for distressed and value add situations. He likes the flexibility of crowdfunding but discusses his concerns about the due diligence quality in crowdfunding situations in this exclusive interview with GlobeSt.com

By Steve Lubetkin | Updated on May 04, 2015

William “Billy” Procida is president of William Procida Incorporated.  He has been an independent entrepreneur since 1981, and has a unique perspective on the markets as a developer who now also provides financing.  His firm, founded in 1995 and based in Englewood Cliffs, NJ, specializes in providing management and capital for both distressed and value added situations. WPI has completed over $2 billion dollars of transactions ranging from $1 million to $50 million, using its own capital and that of strategic capital partners. Procida Advisors provides due diligence and asset management services to financial institutions and private equity funds with a concentration on construction, bankruptcy, restructuring and marketing. Procida spoke exclusively with GlobeSt.com’s Steve Lubetkin about some aspects of the emerging crowdfunding market for commercial real estate that concern him.

Q: The JOBS Act has been spectacularly successful in broadening the crowdfunding opportunities for commercial real estate developers, right?

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