David McCary, CRI
McCary Stevens Associates, Inc.
750 Main Street, Suite 1308
Hartford, CT 06103
860-761-1000
860-761-1009, fax
mccary'@'mccarystevens.com
www.mccarystevens.com

David W. McCary, CRI, Principal

Mr. McCary has over 19 years of commercial real estate experience. Prior to founding McCary Stevens Associates, Inc. in 1993, Mr. McCary spent 11 years as a loan officer in the corporate lending and commercial real estate industries. He spent six years in the commercial real estate industry with Aetna Life and Casualty in Hartford, Connecticut, and, prior to that, spent five years as a corporate lending officer with Manufacturers Hanover Trust Company in New York City.

From 1987 to 1991 Mr. McCary was a commercial mortgage originator and underwriter working the Northeast and Southeast regions. He originated and underwrote over $300 million in new commercial mortgage loans, averaging $10 million. Property types included apartment, retail, office, office R&D, industrial / warehouse and hotels. He traveled extensively to a number of major markets, met with mortgage bankers and borrowers, inspected commercial properties and approved and rejected commercial mortgage loan applications submitted by the Aetna mortgage banker system.

Mr. McCary also performed in depth mortgage reviews on 56 existing commercial mortgage loans totaling approximately $500 million. He helped develop strategies to maximize mortgage values and implemented a number of those strategies including negotiating a number of commercial mortgage modifications with borrowers that improved the structure of the mortgage investments.

In 1992 and 1993 Mr. McCary was an Investment Officer in the Investment Strategy and Policy Group and an Assistant Portfolio Manager managing pension client accounts invested in wholly owned commercial properties. He was team leader for and successfully coordinated the internal sale of a pool of commercial mortgages from one affiliated company to another providing the investors significant tax savings. In addition he analyzed and prepared investment packages on a number of commercial mortgage investments that were being assembled for sale to an outside party.

In the pension portfolio management group, Mr. McCary helped design and implement portfolio strategies for three separate commercial real estate portfolios. He worked closely with pension consultants, advisors and personnel to solicit their investment objectives. He then helped manage the portfolios to meet those investment objectives and prepared detailed quarterly reports describing portfolio management activities and investment results for the pension investors in the three pension accounts.

Mr. McCary is a member of the CMSA (conduit industry trade association) recently serving as Chairman of its Information Exchange Committee and member of its Executive and Nominating Committees. He is also a Founding Governor of the Chartered Realty Investor Society (CRI; the new "CFA-like" designation for commercial real estate investment professionals), a member of the Hartford Society of Financial Analysts, and a member of the Association for Investment Management and Research (AIMR). A Middlebury College graduate with a Bachelor of Arts degree in economics, he earned his Masters of Business Administration degree in finance at Dartmouth's Amos Tuck School of Business, graduating with the Arnold F. Adams Award in Entrepreneurship.