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Brokerage
Posted: August 26, 2013
Procida Funding unveils financing highlights for the first half of the year
Procida Funding & Advisors, LLC's 1st half activities for the year include:
* Acted as advisor to Macquarie Investments to provide a comprehensive review on the American Dream Meadowlands project, a retail and entertainment complex located in the Meadowlands Sports Complex in East Rutherford.
* Acted as investment banker and advisor for Congress Companies on the placement of $15 million of conventional financing for Forest Manor nursing home located in Hope.
* Acted as advisor to Kamson Corp, one of N.J.'s most prominent multifamily owner/operator and developer of super estates.
* Acted as investment banker and advisor to Vanick Properties on the disposition and refinancing of a $100 million of retail assets located throughout N.J. and Pennsylvania.
* Acted as advisor/stand by lender on the restructuring of $6 million of senior debt which achieved a discounted payoff of $2 million on Ironstone Village Center in Medford.
* Acted as advisor / stand by lender on the restructuring of $5.5 million of debt secured by properties in Hoboken and North Bergen achieving a $1 million discount for its client.
Procida Funding, LLC through its 100 Mile Fund provides bridge, mezzanine and equity capital to the real estate industry and middle market companies. Since 1995, the Firm has completed over $2 billion dollars of transactions ranging from $1,000,000 to $50,000,000. The Firm utilizes the funds capital as well as strategic capital partners. Procida Advisors provides due diligence and asset management services to financial institutions and private equity funds with a concentration on construction, development, bankruptcy, restructuring and marketing.
The firm's founder William Procida has been a prominent leader in the Tristate-area real estate market for over 30 years, building over $1 billion dollars in projects and financing more than two billion dollars. In addition to being a media commentator, with frequent appearances on CNBC and Fox Business, he has received the New York City "Developer of the Year Award" and National Association of Home Builders "Pillar of the Industry Award."
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