Procida provided dispute resolution with an operating partner. Serving essentially as the owner’s development representative, Procida handled all pre-development work including completing budgets, reviewing permit approvals for construction and preparing financing loan submission packages for bank review. The firm also identified, vetted and engaged qualified and licensed general contractors, sales and leasing brokers, and property management firms, as well as leveraged contacts to engage local counsel, the company reports.

Procida Advisors was also engaged by the owner of a medical/office portfolio with underperforming assets in northern New Jersey, New York and Florida. Working on behalf of the borrower, a high profile, high net worth individual, the firm was tasked with negotiating with a special servicer to discuss the restructuring and modification of $100 million of existing debt. Procida looked to leverage extensive prior restructuring and advisory roles to amend the medical operating companies and increase net operating income.

In the last 90 days, a regional bank retained Procida Advisors to complete a competitive market analysis of several real estate loans located in the New York City metro market. Utilizing a rigorous process and procedures, the Procida team evaluated market feasibility, projected income and offered opinion of value. Procida continues to monitor ongoing performance of the loan portfolio.

Procida Advisors’ senior team has extensive experience in areas including development management, restructuring, due diligence, crisis management, investment banking, and asset management and disposition. Furthermore, Procida provides general advisory services which included executive placement, human resources as well as “secret shopping” and asset review.

Last month, Procida Funding, LLC announced that the 100 Mile Fund, LLC, which it exclusively manages, achieved a net return to investors of 11.56% for 2019. Since the fund’s inception in 2011, the Fund has achieved a net annual distribution of 12.8%.

Procida’s 100 Mile Fund makes loans and other investments in real estate within 100 miles of its office in Englewood Cliffs. Since 1995, Procida’s different funds have invested more than $3 billion.