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Posted: August 25, 2015
Procida’s 100 Mile Fund tops $200 million in new loan originations
Ridgefield, NJ 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.
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