Procida's 100 Mile Fund tops $200 million in new loan originations

According to Procida, it's 100 Mile Fund has topped $200 million in new loan originations since launching their real estate investment fund in October of 2011. The 100 Mile Fund also revealed a 17.2% annualized percentage yield to their investors for the first half of 2015. Some highlights of the 100 Mile Fund's activity for the first half of 2015 included: * A $7.5 million 1st Mortgage Pre-Development Loan on a 19.2 acre site in Ridgefield, N.J.; * A $3.45 million 1st Mortgage Acquisition Loan on a 127,000 s/f industrial warehouse in Ridgefield Park, N.J.; * A $1.2 million 1st Mortgage Bridge Loan on a mixed-use building in Philadelphia, PA; and * A $1.81 million 1st Mortgage Acquisition Loan secured by properties located in Paterson, N.J.