Procida Funding & Advisors
Assistant Prof. Angela McDonnell
Thursday, March 28, 2019,
11:30 AM - 12:30 PM
Lougheed Library, Main Room
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Mr. Procida is president of Procida Funding & Advisors, LLC. He has been an independent entrepreneur since 1980. Procida Funding was founded in 1995. The firm specializes in providing capital and expertise for both distressed and value-added situations.
In 2002, WPI became the founding member and majority shareholder of Palisades Financial ("Palisades"), which formed and managed two private equity funds. Loans and equity positions were made in excess of 1.5 billion dollars. The funds' returns to investors exceeded 15 percent annually since 2002. These investments covered a broad range of asset classes throughout the U.S., including ski resorts, transportation companies, hotels, manufacturing facilities, chemical plants, as well as conventional real estate asset classes.
In March 2008, Mr. Procida sold his interest in Palisades and resumed activities under Procida Funding, which most notably completed assignments for GMAC Mortgage Group and Ritchie Capital.
Prior to forming Procida Funding, Mr. Procida was co-president of The Procida Organization. The firm employed over 100 people and grew from $2 million in sales in 1982 to over $70 million in sales in 1994. The firm constructed most asset classes and was one of New York City's premier development companies, winning numerous awards including the New York City Developer of the Year award.
Mr. Procida also had a 10 year period as principal of Procida Development/Procida Construction Corporations.