“I am honored to be elected to BANNJ’s board of directors and take an active role once again in this organization that serves a vital role in the northern New Jersey real estate industry,” said Procida.
MOONACHIE, N.J. (PRWEB) February 11, 2020
The Builders Association of Northern New Jersey (BANNJ) has elected William “Billy” Procida, president and CEO of Procida Funding & Advisors (Procida), to its board of directors. The induction took place at BANNJ’s Annual Installation and Awards Dinner on Thursday, Jan. 30. The organization is now marking its 76th year.
Well-known throughout the New Jersey real estate industry and well beyond, Procida founded Procida Funding & Advisors in 1995. The commercial real estate financing and advisory firm is widely-regarded for its vision and capital to get deals done for its clients and the communities it serves.
“I am honored to be elected to BANNJ’s board of directors and take an active role once again in this organization that serves a vital role in the northern New Jersey real estate industry,” said Procida. “I look forward to working with the group on a range of issues, including helping to substantially build up its membership.”
As the local affiliate of the New Jersey Builders Association and the National Association of Home Builders, BANNJ serves Bergen, Hudson, Sussex and Passaic Counties. At the Annual Installation and Awards Dinner, BANNJ celebrated the installation of president, John Cioletti of Reno’s Appliance, and Procida to the board, as well as to honored award recipients. The event included a grand buffet and live entertainment by Snafu.
“We are thrilled to have Billy join our board of directors,” said Kathleen Kurpiel, executive vice president of BANNJ. “He was an active member of our organization in the past, and anyone who knows Billy recognizes the incredible capabilities he brings with him. I know he will be a dedicated member, and we look forward to working together on behalf of the new leadership.”
Based in northern N.J., Procida funds diverse asset classes in eastern regions of the U.S., with a focus in the New York metropolitan area. The firm utilizes its own capital and that of strategic partners, to provide loans from $1MM to $100MM, focusing on deals in the $3MM to $50MM range.
Procida Funding & Advisors exclusively manages the 100 Mile Fund, an open-ended, private real estate investment trust providing bridge, construction, mezzanine and preferred equity financing for value add, distressed and opportunistic situations within 100 miles of NYC. Since 2012, the 100 Mile Fund’s net annual dividend has averaged 12.9 percent, net of all fees. Procida also provides advisory services for developers, financial institutions and private equity funds, including due diligence, development management, construction supervision, restructuring, crisis management, investment banking, asset management and disposition.
Photo Caption: Center pictured left to right are Procida Funding & Advisors Vice President Brian Foley; President and CEO William “Billy” Procida. Rear pictured left to right are Asset Manager Kyle Smyth; Controller Ali Betts; Vice President Derek Weissman; BANNJ’s President John Cioletti; Vice President Mike Coen; Asset Management Omar Khan; and Cymone Paul of Procida Funding & Advisors.
About Procida Funding & Advisors
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