Procida Provides $8.7M Acquisition Loan for Multifamily Portfolio in Sleepy Hollow, New York

by Taylor Williams

SLEEPY HOLLOW, N.Y. — Procida Funding has provided an $8.7 million bridge loan for the acquisition of a 70-unit portfolio in Sleepy Hollow. The portfolio consists of 63 multifamily spaces and seven commercial units. The borrower, Sleepy Hollow Holdings LLC, will use a portion of the proceeds to fund a capital improvements program that is already underway. The portfolio was 94 percent occupied at the time of the loan closing.

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