Procida Funding provides $9.2 million construction loan
MIDDLESEX, NJ — New Jersey based commercial real estate lender, Procida Funding, LLC recently provided a $9.2 million pre-development/early stage construction loan to Middlesex Residential Urban Renewal, LLC, on behalf of The 100 Mile Fund which Procida exclusively manages, to revitalize Lincoln Blvd. in Middlesex. Forte Real Estate Development is an impact real estate development, investment, and operations firm that invests in, repositions, and develops medium to large size residential properties in New Jersey. The firm plans to utilize the loan provided by the 100 Mile Fund to build a new, mixed-use building at 220 and 232 Lincoln Boulevard that will transform vacant and under-utilized properties into a vibrant location with amenity-filled apartments, new retail spaces, and an improved streetscape.