Romanian developer-investor One United Properties has secured a €47 mln financing from Banca Transilvania.
This financing will be used to fully repay the existing credit contracted by the company in 2021 from the Black Sea Trade and Development Bank for the development of the One Tower sustainable office building, a €120 mln development part of One Floreasca City. Additionally, this new financing will ensure the partial repayment of existing shareholder loans and other associated costs.
'We are pleased to announce the securing of financing from Banca Transilvania, which will allow us to repay an existing credit for the development of One Tower office building and, at the same time, reduce the interest rate by 1%, reflecting our commitment to optimizing financial performance. We are also committed to meeting the growing demand for sustainable office spaces through the development of new offices on the first floor of One Gallery, a building currently under restoration,' said Andrei Diaconescu, co-founder and co-CEO of One United Properties.
One United Properties also said that it plans to expand its office portfolio at One Floreasca City with the development of One Gallery, the former Ford factory currently undergoing restoration. The first floor of the building is planned for the construction of new modern office spaces, while the ground floor will host retail spaces. The gross development value for One Gallery is €100 mln and represents the largest private investment in the restoration of a historic building in Romania.
