Procida Funding & Advisors provided a $15,500,000 pre-development and construction loan

The loan is being utilized to finance the soft costs, completion of the pre-construction phase, and “Phase I” construction associated with 1224-40 Frankford Avenue (“The Frankford”). “Phase I” construction will consist of site work, foundations, and pouring the superstructure. The existing property contains a currently uninhabitable four-story building with an adjacent vacant lot that will be part of the future mixed-use hotel. The Frankford is the proposed mixed-use hotel to be completed with separate financing following the completion of “Phase I” construction.