Procida's 100 Mile Fund ends 2014 with $100 million in closed loans

Procida's 100 Mile Fund ended 2014 with $100 million in closed loans, its best year since inception in 2011. One of the deals includes a $3.8 million first mortgage bridge loan secured by a hotel. The 100 Mile Fund is unwavering from its middle-market strategy and remains focused on small and mid-sized real estate transactions often neglected by larger institutions. "This series of transactions highlights our activity in the market as a provider of flexible financing for complex and time sensitive real estate transactions," said Kyle Funsch, director of originations and principal of Procida." The 100 Mile Fund provides bridge, mezzanine, construction and equity capital to the real estate industry and middle market companies. Since 1995, the firm has completed over three billion dollars of transactions ranging from $500,000 to $50 million. The firm's founder William Procida has been a prominent leader in the tri-state area real estate market for over 30 years, building over one 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."