About Our Team

Billy Procida

William "Billy" Procida

President & CEO - bprocida@procida.com

William Procida is president of Procida Funding & Advisors, LLC. He has been an independent entrepreneur since 1980. Procida Funding was founded in 1995 and is based in Englewood Cliffs, New Jersey. The firm specializes in providing management and capital for both distressed and value added situations. In 2002, WPI became the founding member and majority shareholder of Palisades Financial (“Palisades”), which formed and managed two private equity funds. Palisades invested and managed over 100 positions including bridge and mezzanine loans. Loans and equity positions were made in excess of 1.5 billion dollars. The funds' returns to investors exceeded 15 percent annually since 2002. These investments covered a broad range of asset classes throughout the U.S., including ski resorts, transportation companies, hotels, manufacturing facilities, chemical plants, as well as conventional real estate asset classes.

In March 2008, Mr. Procida sold his interest in Palisades and resumed activities under Procida Funding, which most notably completed assignments for GMAC Mortgage Group and Ritchie Capital.

Prior to forming Procida Funding, Mr. Procida was co-president of The Procida Organization ("TPO") located in New York City. TPO ran 4 divisions: construction, real estate development, real estate brokerage, and mortgage brokerage. The firm employed over 100 people and grew from $2 million in sales in 1982 to over $70 million in sales in 1994, with all years profitable. As a contractor, the firm constructed most asset classes and was one of New York City’s premier development companies, winning numerous awards including the New York City Developer of the Year award. Mr. Procida was only 32 years old at this time. During this period, Mr. Procida borrowed and personally guaranteed and repaid over $100 million. In 1990, Mr. Procida took a leave of absence from TPO to take on a full-time assignment with the Trump Organization. Mr. Procida reported directly to Mr. Donald Trump on investments, including casinos, airlines, real estate development, and sports franchises.

Mr. Procida also had an impressive 10 year period as principal of Procida Development/Procida Construction Corporations.

An archive of Mr. Procida's previous work, dating back to 1980, can be located here.

Mr. Procidas’ career has been covered extensively by the press and he has appeared on numerous televised broadcasts. He has lectured on business at numerous colleges and industry association meetings and has been on the board of several non-profit organizations.

Ali Betts

Ali Betts

Controller - abetts@procida.com

Ali Betts joined Procida Funding in May 2011 as Controller. In her capacity, she is responsible for managing all aspects of the company’s accounting functions and, is an integral part of our investor relations function. Ali directly supports Mr. Procida with program and investor initiatives.

Prior to joining Procida, Ali served as Controller and Investor Relations for Palisades Financial reporting directly to the partners of the firm. In her 7 years working with Palisades Financial, her main focus was working closely with investors, accountants, banks, and auditors, managing two investment Funds (Palisades Regional Investment Funds [PRIF and PRIF II]. Ali’s diverse background is an asset in providing the personalized attention for our investors.

Brian Foley

Brian Foley

Head of Originations - bfoley@procida.com

Brian Foley joined the team full time as an Associate in May of 2016 after graduating with a BS in Economics from the Wharton School of Business at the University of Pennsylvania with concentrations in Finance and Real Estate. Brian was also member of Penn's varsity swim and dive team, specializing in backstroke.

Before coming to Procida, Brian interned at Advantage Futures, one of the highest volume futures broker in the industry, based out of Chicago. There, Brian learned key values in sales and trading.

At Procida, Brian worked on R.E.O. assets and distressed deals. Now, Brian leads Procida Funding's Originations department.

Mike Coen

Mike Coen

Asset Management - mcoen@procida.com

Mike Coen joined Procida Funding and Advisors in June of 2015. Mike co-leads the asset management team and helps facilitate the firm's efforts in underwriting analysis. Mike along Derek Weissman will be handling the day-to-day operations of the 100 Mile Fund loan portfolio.

Prior to joining Procida, Mike help manage a portfolio of distressed commercial real estate assets at NRT REO Experts. Mr. Coen worked closely with other nationwide asset management companies servicing clients including JP Morgan Chase, Capital One and Bank of America. Mike served as a key member of the division with $100 million in assets under management generating a liquidation value of more than $670 million.

Mr. Coen completed his Masters in Real Estate Development (MSRED) at Nova Southeastern University and recently completed NYU's Schack Institute of Real Estate Professional Certification in Real Estate Finance.

Derek Weissman

Derek Weissman

Asset Management - dweissman@procida.com

Derek Weissman joined Procida Fund and Advisors in June 2015. June 2015, following an internship in 2014. He graduated from University of Colorado Boulder. Derek along with Mike Coen will be handling will be handling the day-to-day operations of the 100 Mile Fund loan portfolio.

Since joining Procida, Derek has been directly involved in the underwriting, closing and asset management of over $200 million of construction, bridge and DIP loans.

While at CU Derek studied Business Management and earned a certificate in Real Estate. Before joining Procida, Derek worked as a Market Research Analyst for Colliers International.

While in school, Derek also held a position at Hapoalim Securities, working with the structured CD's and Compliance departments. While at University of Colorado Boulder Derek was a member Phi Kappa Psi fraternity.

Stephen Ferreri

Stephen Ferreri

Analyst - sferreri@procida.com

Stephen Ferreri is a recent graduate from St. Johns University with a Bachelors in Accounting and Finance. While attending SJU, he was a practice player for the collegiate basketball team.

Prior to working at Procida, Stephen worked in the finance department at Allianz Global Investors in which he gained valuable experience in both the corporate finance and asset management fields.

Stephen recently completed additional coursework needed to become CPA eligible, as he looks to sit for the CPA in the next coming months. Billy and Stephen's father, who is a financial service CFO from Norwood, have known each other for over a decade.

Stephen Ferreri

Caroline Smyth

Accounting - csmyth@procida.com

Caroline Smyth joined Procida Funding and Advisors in May of 2016. Caroline facilitates in maintaining accurate and well organized financial data for the company. She supports Ali in investor relations for all 100 Mile Fund Shareholders. Caroline also provides support for her colleagues by helping them with situations involving the company financially. Before joining Procida, Caroline worked in both the accounting and hospitality fields giving her a versatile set of skills to bring to the Procida team.