Crisis transactions: 30% of One Tower was sold for 20 million euros


The office building reached a value of 75 million euros.

Ziarul Financiar related today that One United Properties sold 30% of One Tower office building that is currently developed within the mixed-use project One Floreasca City in the north of Bucharest. In a discussion with the business newspaper, the co-founder Victor Căpitanu explained:

"We raised equity capital in both One Tower and One North Gate. For One Tower we raised 20 million euros for the completion of the building, and for One North Gate 5 million euros for 20% of the upgrading of the other office building, for which we are in advanced negotiations with the tenants."

The value of One Tower office building thus amounts to 75 million euros. Ionuţ Dumitrescu, who bought 10% of the project, is now among the new shareholders, together with other minority investors. The remaining 70% represents One United Properties shares.

Part of One Floreasca City multifunctional real estate project, One Tower is located in the northern part of Bucharest and has 16 floors, with a total leasable area of 24,000 sqm. The office building is under development and is due to be delivered in the second quarter of 2020. One Mircea Eliade is also part of One Floreasca City and it represents the residential complex, composed of three tower blocks, with 15 and 20 floors, respectively, and 247 design apartments.

Full article here.


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