The long-running 100 Mile Fund managed by Procida Funding LLC achieved net income in 2022 of $11.6 million, the firm announced, representing a net return to investors of 9.5 percent.
A fund led by real estate industry veteran Billy Procida has doubled in size to $200 million, in a move that comes as it marks more than $1 billion in originations since its founding in 2011.
Plans for a 40,000-square-foot commercial project in Toms River are moving forward with the help of a $6.5 million construction loan arranged by Progress Capital Advisors.
Procida Funding LLC has closed a $7.65 million construction loan for a planned 12-unit townhome project in Brooklyn, the Englewood Cliffs-based firm announced.
