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

PROCIDA FUNDING IS PROUD TO ANNOUNCE A NEW DEAL:

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

1224-40 Frankford Avenue, Philadelphia, PA

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.

PROPERTY SUMMARY Fishtown Hotel
LOAN TYPE Pre-development
& Construction
LOAN TERM
12 months
LOAN AMOUNT $15,500,000

Best of Procida Funding

The Regional Conference of MBAs is pleased to announce that Billy Procida, President and CEO, Procida Funding and Advisors, will address the State of the Commercial Real Estate Market at the Regional on Monday, April 8, 2019. The Conference will be held at Harrah’s Convention Center in Atlantic City, New Jersey.

The Conference features a commercial mortgage lending program with a general session and breakouts, an exhibit hall with lunch, a luncheon with a speaker, breakfast each day and two networking receptions. Early pricing still available.

13.07%

ANNUALIZED RETURN

$582+

MILLION ORIGINATED

$389+

MILLION REPAID

*SINCE INCEPTION | OCTOBER 2011*

Upcoming Events

2019 The Northeastern Anesthesia & Montefiore Nyack Hospital Medical Staff 33rd Annual Golf Classic

Monday, May 13 at Rockland Country Club!
Sparkill, NY

The Art factory Pop-Up Experience Open House Mayor André Sayegh and Congressman Bill Pascrell will be cutting the ribbon!

Brands and retailers of all sizes have the opportunity to benefit from the pop-up shop model. With the support of The Art Factory creative team our retailers can focus on the customer experience that leaves a lasting impression.

10:30 AM | April 20
70 Spruce St Paterson, NJ