One United Properties S.A., one of the leading green developers of residential, mixed-use, and office real estate in Bucharest, announces entering into a financing agreement for up to EUR 78 million for the office component at One Cotroceni Park project.
The financing is provided to One Cotroceni Park Office S.A. (c. EUR 40 million) and One Cotroceni Park Office Phase 2 S.A. (c. EUR 28 million) as borrowers. A VAT facility of EUR 9 million is also part of the agreement.
The financing banks are Banca Comerciala Română, BRD Group Société Générale and Erste Bank A.G., and the loan maturity is 7 years.
Developed on a 5.8 hectares land, on the site of the former Ventilatorul platform, One Cotroceni Park is one of the largest urban regeneration projects in Bucharest, designed in a Live / Work / Play holistic approach. The mixed-use project includes an office component with two large Class A office buildings with approximately 75,000 sqm GLA, a residential compound with over 850 units, and a commercial one, which will provide the future tenants and residents with access to numerous facilities, such as food (canteen, cafes, wine bar, bistro, restaurants), fitness and various services (pharmacy, dry cleaning, bank), outdoor running tracks, swimming, and cycling. The office component has LEED Platinum certification, which confirms the sustainability of the development and the minimal impact on the environment, and is being WELL Health and Safety certified, the most precise certification for the well-being of its occupants, and the best work conditions.
