Real Estate Journal — Owners, Developers & Managers — April 26 - May 9, 2019 — 5B
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NGLEWOODNJ —For the first time in 25 years, Procida Funding LLC Procida Funding and protoCapital join efforts to bring change to communities New Jersey-based social impact fund expands its outreach E
a positive impact in strategi- cally selected communities.” As a division of AK Capi- tal LLC, a FINRA registered broker-dealer, protoCapital is currently engaged to raise up to an additional $100 million for the fund. In contrast to many of the huge billion-dollar deals of- fered to investors, Mr. Procida offers a strategic fund that is transparent, has a great earn- ings track record and focuses on social impact investing. “My base investment phi- losophy is simple,” said Procida. “You can’t go wrong doing what needs to be done for communi-
ties. I am truly delighted to be working with Andy; it’s a unique relationship and we both have our names on our companies’ door.” About Procida Funding & Advisors Founded in 1995, Englewood NJ-based Procida Funding & Advisors, LLC provides man- agement and capital for both distressed and value-added situations. A founding mem- ber of Palisades Financial and former co-president of the New York City Procida Organiza- tion, Procida is a recipient of numerous awards including
the New York City Developer of the Year and Non-Banker Lender awards, among others. A veteran lender, developer and entrepreneur who has been in business for almost 40 years, Procida is leading a team of nine real estate professionals. His 100 Mile Fund serves as a powerful vehicle to participate in real estate loans and invest- ments, and currently looks at opportunities of $2 million to $50 million and up provid- ing financing for office, retail, multifamily, industrial and specialty properties. About protoCapital
protoCapital, co-founded by Andrew Kowalczyk and Thom- as Bumbolow in October 2018, is the private finance division of AK Capital LLC (a FINRA registered Broker-Dealer) that specializes in locating opportu- nities for investors in the areas of social impact, opportunity zones and commercial real es- tate. With offices in New York City, Miami and California, the division facilitates exposure, provides access to deal flow, and delivers advisory services and co-investment opportuni- ties in emerging and under- served asset classes.
has retained a placement agent to of- fer the 100 Mile Fund to the general public under JOBS Ac t . Since 2011, the fund has served as a
William “Billy” Procida
powerful open-ended invest- ment vehicle and provided over half a billion dollars in loans to restore vacant build- ings, rebuild neighborhoods and revitalize underserved communities while operating mostly within a 100-mile ra- dius of New York City. It was founded by William “Billy” Procida , president of Procida Funding LLC, who has firmly established himself as a social impact expert with over 35 years or experience. In a recent effort to expand its outreach, Procida Funding has selected protoCapital (the capital raising division of AK Capital LLC, a FINRA regis- tered Broker-Dealer) to serve as the placement agent for the 100 Mile Fund – the third fund for Billy Procida. Over the course of his well-publicized career, Procida has posted an average net return of over 13% while making a positive impact in communities and creating economic activity. His time- tested formula for success is simple: “Work your ass off, be honest and do good.” A Bergen County native, Billy Procida is known for his unorthodox approach and accessibility. He has been in- volved in a wide variety of proj- ects ranging from invigorating stalled apartment building developments to rebuilding hundreds of townhouses to the complete redevelopment of landmark hotels, all the while keeping many buildings from being torn down and at the same time creating job oppor- tunities for locals. “Although Billy Procida has never let an “outsider” market his fund before, he felt our team was well-equipped to embrace and communicate his message and convey his soul,” said An- drew Kowalczyk of protoCapi- tal, the private finance division he co-founded with Thomas Bumbolow. “We are looking forward to working with Mr. Procida’s team and facilitating
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