MIDDLESEX, NJ — Procida Funding provided a $39 million construction loan, on behalf of the 100 Mile Fund, which Procida exclusively manages. The loan made to Forte Real Estate Development will finance “The View at Middlesex,” a 200-unit apartment building development project in the Borough of Middlesex.
The new mixed-use building at 220 and 232 Lincoln Blvd. will transform vacant and under-utilized properties into a vibrant location with amenity-filled apartments, new retail spaces and an improved streetscape. The project features a five-story, 255,000 s/f building with 200 rental units – 140 one-bedroom units and 60 two-bedrooms.
“Procida has been a loyal partner in the financing of this project,” said Massimo Pinelli, president & CEO of Forte Real Estate Development. “Their support and belief in the project paired by a flawless loan administration has made the process very simple and the efficient.”