Exclusive deal flow from 30 years of experience: Procida Funding & Advisors provides capital, advisory, asset management and brokerage services for a wide range of commercial real estate asset classes in the eastern region of the United States, with a concentration in the New York metropolitan area. In October 2011, Procida launched its 100 Mile Fund, a middle- market real estate investment vehicle focused on development and bridge loans in the $1-75 million range.
This is a unique opportunity for YieldStreet investors to benefit from exclusivity of all the deal flow generated from 10,000+ contacts developed over the past 30 years including third parties, vendors, and professionals that Procida has worked with, who will assist in Due Diligence and Asset Management.
Mr. Procida has 30 years of experience in real estate, construction and finance. He has received numerous awards for real estate, including NYC Developer of the Year 1994. In 1995, Mr. Procida founded William Procida Incorporated (“WPI”), which specializes in providing management and capital for both distressed and value added situations. In 2002, WPI became the founding member and majority shareholder of Palisades Financial. Mr. Procida served as CEO of Palisades, which managed two private equity funds that achieved returns of over 15% annually from 2002- 2007 on $1 billion of investments. In March 2008, WPI started as Procida Funding and Advisors.
Michael Coen joined Procida Funding and Advisors in June of 2015. Mike co-leads the asset management team and helps facilitate the firm's efforts in underwriting analysis. Mike, along with Derek Weissman, will be handling the day-to-day operations of the 100 Mile Fund loan portfolio. Prior to joining Procida, Mike helped manage a portfolio of distressed commercial real estate assets at NRT REO Experts. Mr. Coen worked closely with other nationwide asset management companies servicing clients including JP Morgan Chase, Capital One and Bank of America. Mike served as a key member of the division with $100 million in assets under management generating a liquidation value of more than $670 million. Mr. Coen completed his Masters in Real Estate Development (MSRED) at Nova Southeastern University and recently completed NYU's Schack Institute of Real Estate Professional Certification in Real Estate Finance.
Brian Foley joined the team full time as an Associate in May of 2016 after graduating with a BS in Economics from the Wharton School of Business at the University of Pennsylvania with concentrations in Finance and Real Estate. Brian was also a member of Penn's varsity swim and dive team, specializing in the backstroke. Before coming to Procida, Brian interned at Advantage Futures, one of the highest volume futures brokers in the industry, based out of Chicago. There, Brian learned key values in sales and trading. At Procida, Brian worked on R.E.O. assets and distressed deals. Now, Brian leads Procida Funding's Originations department.
Derek Weissman joined Procida Fund and Advisors in June 2015, following an internship in 2014. He graduated from the University of Colorado - Boulder. Derek, along with Mike Coen, will be handling the day-to-day operations of the 100 Mile Fund loan portfolio. Since joining Procida, Derek has been directly involved in the underwriting, closing and asset management of over $200 million of construction, bridge and DIP loans. While at CU, Derek studied Business Management and earned a certificate in Real Estate. Before joining Procida, Derek worked as a Market Research Analyst for Colliers International. While in school, Derek also held a position at Hapoalim Securities, working with the structured CD's and Compliance departments, and was also a member of the Phi Kappa Psi fraternity.