WPI WILLIAM PROCIDA INCORPORATED William Procida History 1980-2017
2 CORPORATE TIMELINE 2008 2007 ADVISORS IS FORMED REBOOTS WILLIAM PROCIDA INC. SELLS PALISADES REGIONAL FINANCIAL 1995 1994 1990 1985 WILLIAM PROCIDA INC. IS FORMED (COMPLETED $2 BILLION IN PROJECTS) SELLS PROCIDA ORGANIZATION VP OF THE TRUMP ORGANIZATION (WORKOUTS & RESTRUCTURING) MERGES PROCIDA DEVELOPMENT CORP. WITH PROCIDA CONSTRUCTION CORP. (CO-PRESIDENT) 2011-2018 100 MILE FUND IS FORMED ( DEPLOYS $450 MM ) 2010 PROCIDA FUNDING & 2002-2007 LAUNCHES PALISADES REGIONAL INVESTMENT FUND (DEPLOYS $1 BILLION) 1981 PROCIDA DEVELOPMENT CORP. IS FORMED ( CEO ) 2001 PALISADES FINANCIAL IS FORMED ( CEO ) 1980 VP OF PROCIDA CONSTRUCTION CORP. (ESTIMATING/PROJECT MANAGEMENT)
3 AWARDS & ACHIEVEMENTS 2017 2016 2016 Rockland Business Association Citizen of the Year Real Estate Finance & Investment Magazine Non-Bank Lender of the Year Real Estate Finance & Investment Magazine Top Specialty Fund 1994 1994 1994 National Home Builders Pillar of the Industry Award for Urban Renewal NYS Governors Excellence Award in Housing Associated Builders & Owners of Greater New York Developer of The Year Award (Same award won by President Trump) 2016 2011 2014 Real Estate Finance & Investment Magazine Outstanding Contribution Award Gold Coast Chamber Community Builders & of Commerce Man Remodeling (NJ Builders Association) Real Estate of The Year Consultant of The Year 1991 to 1994 Professional Home Builders Magazine Top 400 US Homebuilders 1988 1988 1981 to 1985 Mid Bronx Desperados Business Man of The Year Award President of The Borough of The Bronx Citation of Merit Award Professional Home Builders Magazine Top 20 Renovation Contractors 1997 New York Mortgage Bankers Association Man of The Year Award US Embassy (Berlin Office) Certificate of Appreciation 1989, 1991, 1992 1989 1989 Associated Builders & Owners Outstanding Developer Award American Jewish Congress Outstanding Community Service Award The Bronx Chamber of Commerce Man of The Year Award 1991 to 1994 Engineering News Record Magazine Top US 400 General Contractors 1983 American Institute of Architect (NJ Chapter) Outstanding Design Award 1978 to 1981 Member Labors International Union Local #104
4 NEWS & TELEVISED APPEARANCES
5 100 MILE FUND 20-2017 ANNUALIZED AVERAGE RETURNS MEMBERS EQUITY 16.00% 14.00%.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% $60,000,000.00 $50,000,000.00 $40,000,000.00 $30,000,000.00 $20,000,000.00 $10,000,000.00 $0.00 20 2013 2014 2015 2016 2017 20 2013 2014 2015 2016 2017
6 100 MILE FUND 20-2017 LOAN ORIGINATIONS PAID INVESTMENTS $140,000,000.00 $0,000,000.00 $0,000,000.00 $100,000,000.00 $100,000,000.00 $80,000,000.00 $80,000,000.00 $60,000,000.00 $60,000,000.00 $40,000,000.00 $40,000,000.00 $20,000,000.00 $20,000,000.00 $0.00 $0.00 20 2013 2014 2015 2016 2017 20 2013 2014 2015 2016 2017
7 100 MILE FUND RESULTS 20-2017 Paid Investment Gulls Cove II Jersey City, NJ 2017 Year End Summary Originated 10 Loans in 2017 $27,795,000 8 Loans Repaid $101,825,000 2017 Annual Return 11.93% Current Investment 5 Year Summary THRU December 31, 2017 Originated 81 Loans Since Inception $423,511,959 55 Loans Repaid $302,740,136 The Divine Lorraine Hotel Philadelphia, PA Average Return Annualized Since Inception 13.75%
8 THIRD PARTY CORRESPONDENT TRANSACTIONS Romspen Investment Corp. (2013 Present) Status Loan Total Yield Paid Jersey City $45,000,000 10% + Paid Futterman $10,000,000 10% + Paid Toms River $5,000,000 10% + Paid Gulls Cove II $45,000,000 10% + Paid Kirkbride $15,000,000 10% + Paid Blatstein $15,000,000 10% + (2010 20) Name Total Description Capital Trust $140,000,000 6% return on $80,000,000 senior 15% return on $60,000,000 equity invested G4-Capital $25,000,000 18% return on 1st mtg. construction loan Pen Cap Portfolio Gatano Development
9 PALISADES REGIONAL INVESTMENT FUND I & II SUMMARY RESULTS (2002 2007) PRIF I Summary Results Year LTV% Return Equity 2002 67% 50% $3,000,000 2003 95% 32% $,150,000 2004 85% 15% $27,642,000 2005 71% 13.5% $42,000,000 2006 40% 19.1% $24,000,000 2007 80% 11.5% $15,000,000 PRIF II Summary Results Year LTV% Return Equity 2006 50% 13.7% $37,600,000 2007 81% 16% $51,000,000
10 PRIF I & II INVESTMENTS (2002 2007) PRIF I Investments PRIF CoInvestors 3rd Party Debt Total Collateral LTV Return 2002 $6,115 $8,700 $38,045 $52,860 $78,480 67% 50% 2003 $10,051 $29,116 $77,088 $116,255 $2,956 95% 32% 2004 $30,910 $59,111 $2,670 $302,691 $354,450 85% 15% 2005 $57,538 $15,232 $72,921 $145,691 $205,739 71% 13.5% 2006 $5,700 - $2,900 $8,600 $21,450 40% 19% Total $110,314 $1,159 $403,624 $626,097 $783,105 80% Year PRIF II Investments PRIF CoInvestors 3rd Party Debt Total Collateral LTV Return 2006 $43,420 $3,300 $70,933 $117,653 $233,138 50% 13.7% 2007 $64,021 $9,130 $221,385 $294,536 $365,176 81% 16.0% Total $107,441 $,430 $292,318 $4,189 $598,315 69% Year *All amounts in $000 s
11 THIRD PARTY CORRESPONDENTS (1997 2001) WPI Transactions Completed for Third Party Clients 1997-2001 Canyon Capital (DIP, Bridge Loans & Equity) Mrs. Smith s Pies, Pottstown, PA Route 17 North, Paramus, NJ Fairchild, Long Island, NY Roseland, NJ West Shore, Staten Island, NY 130 Monarch Avenue, Carlstadt, NJ Cineplex Odeon, NY, NY Burlington Square, Burlington, VT Studio City Associates, Los Angeles, CA 1997-2001 Phoenix four Inc. (Debt Buys) Southport, Cape Cod, MA Seacourt Pavilion, Toms River, NJ Wise Country Virginia, WV Danbury Hilton Hotel, Danbury, CT West Shore Plaza, Staten Island, NY Northvale Offices, Northvale, NJ Gertz Plaza, Queens, NY Ridge Plaza, Jefferson Twp., NJ Hudson Street, NY, NY Halvajian Portfolio, NJ 21 Astor, NY, NY Date of Investment Investment Amount Est./Realized Income & Sale Proceeds Time (Month) Annualized Return 2001 1997 1997 $6,500 2,619 3,224 9,251 1,800 19,673 9,500 3,432 $8,450 2,945 3,860 10,381 250 2,484 21,319,000 8,142 24 5 11 7 1 20 4 46 15% 30% 22% 22% 23% 25% 27% 36% Total Canyon & Affiliates $55,999 $69,831 Date of Investment Investment Amount Est./Realized Income & Sale Proceeds Time (Month) Annualized Return 1997 1997 1997 $25,000 25,000 5,500 14,500 15,000 1,000,000 1,500 5,000 30,000 - $50,000 30,000 6,000 15,000 25,000 1,500 15,000 3,000 16,000 50,000 500 24 1 1 6 24 24 1 50% 20% 60% 100% 20% 50% 300% 30% - Total SRC $134,500 $2,000 *All amounts in $000 s
THIRD PARTY CORRESPONDENTS (1997 2001) WPI Transactions Completed for Third Party Clients Cont. 2001 Lend Lease (Mezzanine Loans) Date of Investment Investment Amount Est./Realized Income & Sale Proceeds Time (Month) Annualized Return Cambridge Crossings, Clifton, NJ 717 Partners, LLC, NY, NY Cambridge Heights on Terrace Lake, Butler, NJ Cambridge Heights at Nutley, Nutley, NJ 2001 $15,000 14,000 7,500 10,000 $22,500 19,670 10,3 13,750 24 18 18 18 25% 27% 25% 25% Total Lend Lease $46,500 $66,232 Grand Total $236,999 $348,063 *All amounts in $000 s WPI Direct Loans Project 7 Woodport Road, Sparta, NJ Countryside Estates, Saucon, PA YLCO, LTD, Paterson, NJ West 87th Street, NY, NY Nauset Avenue, Doogwood, NJ OK Performance, Palisades Park, NJ Country Club, New Hempstead, NY 444th Street, Union City, NJ County Road, Cresskill, NJ Ardenburgh Ave, Demarest, NJ Lincoln Avenue, Cliffside Park, NJ 50 E. 30th Street, Ny, NY 31 Farmum Street, Edgewater Park, NJ Fort Lee, NJ Iggart Marriot Industrial, Columbus, OH 25 Morrow Street, Englewood, NJ TC s-deelwood Park, Jacksonville, FL 300 Walt Whitman Blvd, Long Island, NY Date of Investment Investment Amount Net Proceeds Time (Month) Annualized Return Transaction Type 2002 2002 2002 2001 1997 1995 $248,300 350,000 450,000 150,000 25,000 100,000 100,000 110,000 150,000 200,000 300,000 400,000 150,000 250,000 198,000 200,000 284,000 2,600,000 $159,700 150,000 58,000 27,000 3,800,000 55,000 18,000 11,300 900,000 1,050,000 200,000 15,000 18,800 133,000 40,000 2,613,000 433,000 4 4 5 6 3 6 24 30 6 3 6 11 60 4 193% 9% 31% 18% 15% 24% 220% 16% 15% 225% 140% 100% 40% 15% 89% 20% 142% 54% Debt & Fee Purchase Debt & Fee Purchase 2nd Mortgage 1st Priority Lien 2nd Mortgage Bridge Loan Stand-By 1st Mortgage 2nd Mortgage Fee Purchase Fee Purchase Bridge Loan Debt Buy 2nd Mortgage Direct Ownership 2nd Mortgage Direct Ownership Direct Ownership Total SRC $6,265,300 $5,897,600
13 THE PROCIDA ORGANIZATION (1983-1996) Construction & Developement GROSS REVENUE $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996
WPI WILLIAM PROCIDA INCORPORATED