Providence RI Alan Doyle, principal of Larew Doyle & Associates, Inc., recently arranged $16 million in permanent financing on West River Commerce Center, a 140,000 s/f, historic mill rehab conversion to medical and professional offices.
Financed by a Mid-West based life insurance company, represented by Larew Doyle & Associates, Inc., the loan is non-recourse and was fixed for 13 years at an extremely competitive rate. The interest rate was fixed at application, two months prior to funding which insulated the owner from a subsequent run up in the capital markets. West River Commerce Center is located in the city's Randall Sq. office submarket, near Providence's CBD, I-95 and Rte. 146. This property features complimentary on-site parking and a 3,000 s/f café.
Larew Doyle is a real estate advisory company with offices in Providence, New York City and Syracuse NY. Its principals, former life insurance company investment managers, oversee the company's debt and equity placement in addition to the asset management of over 1 million s/f of commercial space.