WILLIAM “BILLY” PROCIDA
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
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. 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.
Mr. Lazaroff received a Bachelor of Science Degree in Business Administration with a concentration in accounting from Monmouth College in 1974. He also obtained a law degree (Juris Doctorate degree) from Northern Illinois University College of Law in 1978. Following college he joined the accounting firm of Touche Ross & Co. (now Deloitte Touche) where he worked in the accounting department for two years before going to law school.
In 1978, subsequent to graduating from law school, he rejoined Touche Ross & Co., as a member of the tax department where he remained until 2001 when he and Marc Reichman formed the public accounting and advisory firm of Reichman & Lazaroff (subsequently Reichman & Lazaroff LLC). Growing up in Queens New York he relocated to and has been a resident of Bergen County New Jersey since 1978.
Reichman & Lazaroff LLC clientele include, among others, high net worth individuals, private equity, real estate and commodity funds. For the past 20 years Mr. Lazaroff has been the accountant for William Procida individually and his related entities including the fund managers Palisades Financial and Procida Funding LLC. He is currently a consultant to the 100 Mile Fund and maintains seven figure investments in the fund and other related Fund projects.
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.
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 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.
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.
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.
Lauryn Donnelly joined our team in February 2018. Lauryn attended West Virginia University where she majored in Fashion Merchandising and minored in Business. Prior to working at Procida, Lauryn was an intern for Nordstrom and then a full time “All Star” Employee, where she assisted in managing the stores social media account as well as a being a part of the Stylist Team.
Lauryn has brought her social media, organizational and interpersonal skills to the Marketing Team here at Procida. Lauryn is also the gate-keeper for Billy and works full time on his schedule and task management for the entire office. Since joining Procida, Lauryn has taken on the role as the Co-Marketing Director where she manages all things social media, PR, and advertisements for the company.
Mark Jacobs founded K&M Newspaper Services, Inc in 1984. The company grew to supply equipment and services to over 500 newspaper publishers worldwide.
Through Alipress Realty, LLC he owned and managed real estate for the past 30 years. Currently, he sits on the following nonprofit boards: Montefiore Nyack Hospital, Montefiore Nyack Foundation, The Wartburg Foundation, Saint Dominic’s Family Services, YMCA of Middletown, Rockland County Pride Center, Center for Safety and Change, and Rockland Country Club Foundation.
Kyle Smyth joined Procida Funding & Advisors as a full-time Analyst in July 2018 after graduating with a B.B.A. from the Villanova School of Business at Villanova University with concentrations in Finance and Real Estate.
Prior to joining Procida, Kyle interned with the firm in 2015 and 2017 as an Asset Manager for the Tallman project. In 2016, Kyle interned with Cerberus Capital Management in its Residential Mortgage-Backed Securities division as a member of its Asset Sourcing team.
Kyle is currently a CFA Level II Candidate.