EAST ORANGE, NJ-Procida Funding & Advisors has provided an$18 million bridge loan to facilitate refinancing of aneight-building apartment portfolio that is primarily located inEast Orange.
The loan to an undisclosed real estate company based in Lodi wasmade on properties that include a total of 419 units. Sixproperties are in East Orange, another is in West New York, N.J.and one is located in Elizabeth.
The loans were made through Procida's 100-Mile Fund, which thefirm's founder William Procida tells GlobeSt.com has now completedover $60 million in transactions.
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