LD&A - Company Overview

Larew, Doyle &
Associates, LLC
A Customized Approach to
Commercial Real Estate Financing Solutions
Chris Kinder - Vice President
ckinder@larewdoyle.com
(203) 912-5580

Company Overview
 Multi-faceted real estate finance investment banking and workout advisory firm.
 Privately owned by principals with 50+ years of commercial real estate experience in the
lending, mortgage banking, development and asset workout fields.
 Conventional mortgage and equity programs originated through institutional investors;
appetites ranging from $2 MM – $200 MM
 The LD&A Distressed Asset Assistance Program is set up to advise overleveraged clients on
workout strategy and loan modification.
 Four strategically located production offices:
 Westport, Connecticut
 New York, New York
 Institutional Loan Servicing Portfolio operated out of Providence offices.
(203) 912-5580
 Providence, Rhode Island
 Syracuse, New York

ThePrincipals
Andrew Larew
Principal
Andrew Larew is a 23 year veteran of the commercial real estate industry. His expertise ranges a
wide spectrum from finance and capital markets to workout strategy, litigation, investment,
development and property management.
Early on in his career Larew was a Senior Investment Advisor with Travelers Realty Investment
Company. He was responsible for the origination of $100 million of new mortgages and oversight
of a $250+ million loan portfolio.
From Travelers, Larew moved his efforts to foreclosure and loan workout. First for New England
Savings Bank (managing and reducing an assigned pool of large balance, problem real estate loans)
followed by RECOLL Management Corporation (a division of Fleet Bank), where he managed and
directed the liquidation of a $100 million portfolio of large balance, real estate assets for an FDIC
Receivership.
After RECOLL, Larew became Director of Finance for the Widewaters Group, Inc. a private real
estate company with over 3.0 million square feet of commercial real estate and 65 employees. He
was successful in modifying many of the company’s existing loans, generating a total principal
reduction of $25 million across the portfolio.
In 1996 Mr. Larew re-entered the lending side of the business as a mortgage correspondent with
Legg Mason Real Estate Services. Ultimately his success would lead to the formation of his own
mortgage banking company in Westport, CT – first as a partner of Boston-based Goedecke & Co. –
and now in its current form known as Larew, Doyle & Associates, LLC.
(203) 912-5580

Alan Doyle
Principal
Alan Doyle has over 29 years experience in real estate finance, acquisitions and development,
having worked for Citibank (NYC), Fleet Bank (RI) and Traveler’s Realty Investment Company
(Hartford, Ft. Lauderdale & Boston).
During his 18 year tenure with these financial institutions he went through Citibank’s intensive
Credit Analyst program and later became a Commercial Loan Officer prior to redirecting his
professional focus exclusively to commercial real estate investment.
While with Traveler’s Realty Investment Company he earned the distinction as Traveler's third
highest loan originator in a year when it financed over $4.5 billion in new mortgage loans. Doyle
also acquired investment property on behalf of Traveler’s general and separate accounts and
project-managed the development of West Springfield's 126 room Hampton Inn Hotel.
In early 2002, Doyle and former Travelers colleague Andrew Larew formed Boston-based
Goedecke Company’s Providence, RI and Westport, CT offices, during which time they generated
over $1.1 billion in new loan originations. With a particular focus on Insurance Company
financing, the Providence and Westport offices spun off to form Larew, Doyle & Associates in
2008, a boutique intermediary to the capital markets offering a broader range of services.
Today, as Principal of LD&A, Doyle focuses his attention on loan origination in Rhode Island and
southern New England. Alan’s dedicated and customer-driven style of business have earned him
an ever-growing book of repeat clients in his market.
(203) 912-5580
ThePrincipals(continued)

Real Estate Client Financial
Services
 Mortgage Debt Origination
 Floating-Rate Bridge & Construction Loans
 5, 7, 10, 15 & 20 Year Fixed-Rate Permanent Loans
 Non-Recourse Mortgages Available
 SBA & Not-for-Profit Financing
 Equity Origination
 Joint Venture Participation
 Preferred Equity / Mezzanine Equity
 Distressed Loan Advisory Services
 Loan Workout Advisory & Modifications for Overleveraged Owners
 Performing & Non-performing note brokerage for Opportunistic Buyers
(203) 912-5580

Conventional Financing Programs
 Life Insurance Company Loan Program
 Typically up to 65% LTV, with minimum 1.25x DSCR.
 Non-recourse to deal sponsor(s); 10, 15 and 20 year term available.
 54% of all LD&A loan production has been through its correspondent insurance
programs.
 Commercial Bank Loan Program
 Typically up to 75% LTV. Floating and fixed rate terms available.
 Competitive interest rates.
 Fannie Mae / Freddie Mac
 LD&A can provide Agency lending programs for qualified multifamily projects.
 SBA 504
 Special programs available for owners of small businesses and owner-occupied real
estate.
(203) 912-5580
LD&A’s producers have originated in excess of $1.1 BN
in Loans and JV Equity participation since 2003.

Capital Sources(partial list)
 AIG Global RE Investors
 Allstate Insurance Co.
 American Equity Life Insurance Co.
 American United Life Insurance Co.
 Ameritas Life Insurance Co.
 Babson Capital Management
 Beacon Federal
 Boston Private Bank
 CIBC World Markets
 Citizens Bank
 Community Preservation Corp. (CPC)
 First Niagara Bank
 First Trade Union Bank
 Flushing Savings Bank
 Fannie Mae & Freddie Mac
 Guardian Life Insurance Co.
 Hudson Realty Capital
 John Hancock Life Insurance Co.
 JPMorgan Chase Bank
 Legacy Real Estate Finance
 Liberty Bank
 NCB Financial Group
 Northwestern Mutual
 People’s United Bank
 Potomac Realty Capital
 Principal Global Investors
 Protective Life Insurance Co.
 Stancorp Mortgage Investors
 Soundview Real Estate
 SunLife Insurance Co.
 TDBank
 Thrivent Financial
 TIAA-CREF
 Titan Capital
 US Bank
 UnumProvident Corp.
 Wachovia Bank
 Washington Trust Company
 Webster Bank
 Winthrop Capital
(203) 912-5580

$16,000,000
429 W. 53rd
St.
New York, NY
Permanent loan arranged with a correspondent insurance
company for the acquisition of a Midtown office building
for owner/user purposes. Long term fixed-rate financing
was arranged with a 10/25 structure.
$237,000,000
Parking Facility – New Yankee Stadium
Bronx, NY
LD&D facilitated a $237MM tax-exempt bond
issuance backed by NYC credit for the development of three
separate parking structures at the new Yankee Stadium.
(203) 912-5580
Recent Transactions

$70,000,000
The Ocean House
Watch Hill, RI
This construction financing was arranged with a
national bank for a 50 room Luxury Hotel & Spa
and 17 Residential Condominiums. The project is
located on one of Rhode Island’s most exclusive
stretches of coastline.
$15,000,000
Global Tissue Facility
Brookhaven, Long Island, NY
A seamless construction-to-perm facility was provided by a
correspondent life insurance company for the build-to-suit
development of GTG’s new 166,000 sq.ft. industrial
headquarters. The interest rate is fixed during construction
and the nine year term that follows.
(203) 912-5580
Recent Transactions (continued)

Distressed Asset Assistance
Program
 Larew, Doyle & Associates team of professionals works with owners to:
 Restructure and modify existing loan terms with current lender
 Reduce principal and/or interest rate and extend loan maturities
 Formulate and execute a cost effective workout strategy to KEEP your property
 Facilitate bridge loans and/or equity participation to take out existing financing
 Why put LD&A on your asset workout assignment?
 Proven track record: we have restructured dozens of CRE loans on behalf of property
owners, saving millions of dollars and keeping owners in control of their properties
 Lawyers are costly and make decisions with no regard for MONETARY outcomes. LD&A acts
as a “business-minded” intermediary between your attorney and lender
 LD&A will build your case against foreclosure in a way consistent with the court process
 Fees: Negotiable; typically a small retainer and a percentage of the savings generated
(203) 912-5580
For Owners of Highly-Leveraged Commercial Real Estate Assets

Distressed Note Brokerage
Program
 Larew, Doyle & Associates can assist your firm with:
 Identifying below-market and off-market note sale and REO opportunities
 Intelligently interfacing with banks, loan servicers and asset managers to negotiate price
 Formulating an overall investment strategy spanning valuation, financing, acquisition,
servicing, workout (foreclosure or other solution) and exit through recapitalization
 What benchstrength does LD&A bring to your note-buying efforts?
 Through our long-standing institutional contacts LD&A sees a steady flow of buying
opportunities coming out of life insurance companies, banks and other institutions
 Our team has negotiated and closed numerous transactions that have involved discounted
loans, bankruptcy, foreclosure and other “distressed” elements
 Our knowledge of active capital markets players can help you access financing and equity
partners to execute your transactions; both on the front-end and at recapitalization
 LD&A maintains an institutional grade Loan Servicing Portfolio to monitor and service your
note acquisitions post-closing
 Fees: Typically 2% of the total acquisition cost, paid at closing.
(203) 912-5580
For Opportunistic Buyers of Distressed Loans and REO

$2,920,000
65-35 Queens Blvd.
Woodside, Queens, NY
$2.92MM in preferred equity (85% of total capitalization)
was raised for the $3.32MM acquisition of a defaulted
CMBS loan. The note was purchased directly from the loan
servicer at $0.83 on the dollar. LD&A identified the deal and
sourced the equity from a boutique investment bank.
$7,500,000
5000 Brittonfield Parkway
East Syracuse, New York
LD&A assisted Upstate Associates in acquiring this 186,000 sq.ft.
class ‘A’ office building on a short-term sale/leaseback with the
seller. The $11.5MM note was reduced to $5.8MM and assumed
by the buyer. In addition, $1.5MM in preferred equity was raised to
complete the transaction.
(203) 912-5580
Recent Transactions

Production Offices
Please visit us on our website: www.larewdoyle.com
(203) 912-5580
RHODE ISLAND
One Richmond Square, Suite 160
Providence, RI 02906
(401) 247-1985
CONNECTICUT
830 Post Road East, Suite 216
Westport, CT 06880
(203) 504-2800
UPSTATE NEW YORK
2 Clinton Square
Syracuse, NY 13202
(315) 472-2020
NEW YORK CITY
27 Whitehall Street, 4th Floor
New York, NY 10004
(203) 912-5580

LD&amp;A - Company Overview

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