Procida Funding has closed a $3.66 million bridge loan secured by a four-building, mixed-use portfolio across the street from Rutgers University in downtown Newark, the firm announced.
Long-term issues need long-term solutions
When the drafters of the federal and New Jersey constitutions established the length of terms for elected leaders from two to six years, they probably thought those were the right lengths to enable those leaders to focus on both short- and long-term issues. Unfortunately, most of the focus has been on the short term with little planning for the longer-term issues. Long-term has come to mean getting past the next election.
Home state advantage: Morris, Jingoli discuss plans in Atlantic City, partnership with Hard Rock
Jack Morris and Joe Jingoli, whose families have partnered with Hard Rock International to acquire the former Trump Taj Mahal, bring decades of experience in New Jersey real estate and a level of hands-on, local expertise that an outside investor simply wouldn’t have.
Combined with the resources and the pedigree of a global brand like Hard Rock, Morris and Jingoli feel strongly that their plans for Atlantic City will be the catalyst that is often promised but not as frequently delivered. And they say it’s about more than simply reopening a casino.
