Procida's 100 Mile Fund Ends 2017 With A Flurry Of Activity

William “Billy” Procida of Procida Funding, at ALM Real Estate Media’s 2016 RealShare Philadelphia Conference (Bill Neumann photo)

ENGLEWOOD CLIFFS, NJ—Procida Funding was busy with a flurry of financings during the last week of 2017, including a $68.5 million construction loan on the Gulls Cove condominium project in Jersey City that the firm says was paid off at 4:48 p.m. on the Friday before New Year’s weekend, the last transaction of the year.

The day before that, Procida Funding’s 100 Mile Fund closed a $6.5 million construction loan on a new retail center for the Mabie Family in Toms River, and the day before that it provided a $1 million loan for ongoing construction at The Metropolitan Opera House in Philadelphia, PA.