Facebook Twitter LinkedIn Google Plus RSS

Procida vehicle closes on $10M in loans

By

An Englewood Cliffs company on Tuesday announced three loan closings totaling more than $10 million.

Procida Funding’s real estate investment vehicle the 100 Mile Fund issued a $3.8 million bridge construction loan for a Bronx hotel, a $3.725 million bridge loan for five northern New Jersey properties, and a $2.6 million bridge loan for 10 Paterson properties, it said in a news release.

The Bronx deal, with AMG Elton LLC, will enable the completion of a seven-story hotel in that New York borough. The northern New Jersey agreement, with Alliance Hand and Physical Therapy et al., will allow the construction and leasing of properties in Hackensack, Hawthorne, Lodi and Ramsey. The Paterson loan, with JCM Investors 1012 LLC, will enable the construction and renovation of the 10 properties.

ALSO ON NJBIZ:

NJBIZ Healthcare Heroes winners: Top ten bring home big awards for their service

Lesniak moves ahead with N.J. sports betting law after Supreme Court setback

N.J. firm earns dubious “honor”: One of the worst to work for

Eric Strauss

Eric Strauss

Eric Strauss is the digital content editor for NJBIZ. He has been a reporter and editor for newspapers in New Jersey and Pennsylvania, as well as for a number of websites. You can contact him at erics@njbiz.com or @acerimrat on Twitter.

Leave a Comment

test

Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
View Comment Policy

Comments

close
Subscribe to Our Newsletters!
Click Here to Subscribe for Free Now!