CB Richard Ellis arranges financing for acquisition

CB Richard Ellis Capital Markets New York and Madrid offices have arranged financing for the land acquisition and pre-development of 67-69 Laight St., a 20,000 s/f land parcel for 20 million Euros. Spearheading the deal was Juan-Carlos Bujeda of the Madrid office and Keith Braddish of the New York City office. Also involved in the transaction were Barbera Pereira and Natale Glostra of the CB Richard Ellis Capital Markets Madrid office. The groups secured 20 million Euros in loans financed by Banco Sabadell and Banco Popular on behalf of Arranz Acinas Group to facilitate the land acquisition of 67-69 Laight St. The two adjacent lots, located between Washington and Greenwich Sts., are part of Tribecas mixed-use special purpose district, which is one of the most exclusive residential neighborhoods in New York City. "We partnered with the CB Richard Ellis Capital Markets Madrid office to provide this Spanish-based developer with the most cost effective capital in the marketplace," said Braddish.